Orc, a trading technology provider, has established new market gateways for India’s two main stock exchanges, enabling access to both via a single interface.
The new access points at the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will mean brokers can trade on these markets using Orc’s trading solutions. This includes the ability for international brokers without an Indian presence or exchange memberships to start trading via brokers that have Orc’s sponsored access solution.
Orc is registered as a foreign independent software vendor with the NSE and is recognised as an empanelled vendor of the BSE.
Orc has also attempted to gain a foothold in offering technology solutions for equity options market makers that have recently become active in the liquidity enhancement programs launched by both exchanges following regulatory changes announced by the Securities and Exchange Board of India.
“Orc was the obvious choice for our trading solutions when we registered for the market making program with the BSE,” said Rajesh Baheti, managing director, Crosseas Capital Services. “In addition to the speed, Orc’s trading front-end offers the rich functionality that our business needs for making markets on listed derivatives.”
“We recognise the efforts made by the Indian exchanges to enhance liquidity in their listed derivatives products and to make their exchanges internationally available, and we are excited to play our part in this process,” said Greg Chambers, president, Asia-Pacific, Orc. “Orc’s offering provides our clients with the ability to trade both cash and listed derivatives on both exchanges simultaneously.”