CSE signs deal to execute new trading system
Monday, 29 November 2010
FE Report
Chittagong Stock Exchange (CSE) Sunday signed a contract with Millennium IT Software Ltd and Polaris Software Lab Ltd for implementing its Next Generation Web Based Trading System (NGTS) at the CSE conference hall.
CSE President Fakhor Uddin Ali Ahmed said their new trading system is the world's fastest order processing system that has been successfully implemented in "Turquoise" and London Stock Exchange.
"It's a journey towards new heights," the CSE president said at his speech delivered at the contract signing ceremony.
The NGTS has multi-channel order submission system with real time risk management system, which enables brokers and their clients to trade with maximum flexibility from anywhere using internet and mobile phones.
The CSE president also said the NGTS has highly scalable operating and relational data base management system (RDBMS).
"The new trading system can receive 2,250 trade orders per second while the old system can receive only 50 orders. At the same time it can execute 750 contracts per second compared to four contracts under old system," the CSE president said.
Millennium IT, founded in 1996 and based in Sri Lanka, is a subsidiary wholly owned by London Stock Exchange Group and a premier technology solutions provider, which is serving the global capital market industry.
The Millennium IT will implement the CSE NGTS project in association with its sub-contractor Polaris Software Lab Ltd.
It has world class smart and advanced surveillance system for multi-asset products with internationally best practiced multiple analytical tools, graphic presentations, market replay on the basis of historical data management, the CSE president said adding, "The robust risk management system of the new trading software will facilitate pre-validating investors' orders in respect of both money and stock. This will also facilitate calculating clients' exposure against margins and collaterals."
Two former CSE presidents Mirza Salman Ispahani and Nasiruddin Ahmed Chowdhury, three former vice-presidents Al Maruf Khan, AQI Chowdhury and Tareq Kamal and CSE CEO Professor Dr Mohammed Abdullah Mamun were present along with guests at the contract signing ceremony.
Chittagong Stock Exchange (CSE) Sunday signed a contract with Millennium IT Software Ltd and Polaris Software Lab Ltd for implementing its Next Generation Web Based Trading System (NGTS) at the CSE conference hall.
CSE President Fakhor Uddin Ali Ahmed said their new trading system is the world's fastest order processing system that has been successfully implemented in "Turquoise" and London Stock Exchange.
"It's a journey towards new heights," the CSE president said at his speech delivered at the contract signing ceremony.
The NGTS has multi-channel order submission system with real time risk management system, which enables brokers and their clients to trade with maximum flexibility from anywhere using internet and mobile phones.
The CSE president also said the NGTS has highly scalable operating and relational data base management system (RDBMS).
"The new trading system can receive 2,250 trade orders per second while the old system can receive only 50 orders. At the same time it can execute 750 contracts per second compared to four contracts under old system," the CSE president said.
Millennium IT, founded in 1996 and based in Sri Lanka, is a subsidiary wholly owned by London Stock Exchange Group and a premier technology solutions provider, which is serving the global capital market industry.
The Millennium IT will implement the CSE NGTS project in association with its sub-contractor Polaris Software Lab Ltd.
It has world class smart and advanced surveillance system for multi-asset products with internationally best practiced multiple analytical tools, graphic presentations, market replay on the basis of historical data management, the CSE president said adding, "The robust risk management system of the new trading software will facilitate pre-validating investors' orders in respect of both money and stock. This will also facilitate calculating clients' exposure against margins and collaterals."
Two former CSE presidents Mirza Salman Ispahani and Nasiruddin Ahmed Chowdhury, three former vice-presidents Al Maruf Khan, AQI Chowdhury and Tareq Kamal and CSE CEO Professor Dr Mohammed Abdullah Mamun were present along with guests at the contract signing ceremony.