Business

First Derivatives agrees NSE contract

Brian Conlon of First Derivatives

FINANCIAL technology company First Derivatives (FD) has signed off on a contract to provide trading services to the National Stock Exchange of India.

The Newry-based software and consulting services firm is to provide a for a range of next generation trading services, based on its sought-after kdb+ software platform.

Following successful user testing, the system has gone live and as a result NSE India is now able to provide its clients with the capability to test their algorithms before they are made live.

The NSE, set up in 1992, is a thought leader in the deployment of technology to improve trading practices.

The contract has the potential to serve as an example towards improving the robustness of exchange trading platforms on a global basis and also in providing additional, value-added services to market participants.

FD chief executive Brian Conlon said: "This is an important win for use, once again referencing our software's ability to manage large volumes of real time data and, in this case, help Exchanges protect their integrity while allowing their market participants to deploy algorithms quickly and safely.

"We are delighted to welcome NSE as a client."

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