By Business Wire, March 05, 2013, 03:17:00 AM EDT
PhillipCapital Opens Direct Market Access to India's National Stock Exchange
MUMBAI, India & HONG KONG & SYDNEY & TOKYO--(BUSINESS WIRE)--
Orc, a leading provider of technology and services for the global
financial industry, today announced that PhillipCapital, India
(PhillipCapital) has deployed Orc Access to meet the growing market
demand for low-latency connectivity in India.
PhillipCapital has completed the necessary regulatory certifications for
its Orc installation and is now able to provide international trading
firms with high-speed Direct Market Access (DMA) to the National Stock
Exchange of India Ltd. (NSE). The Orc deployment empowers PhillipCapital
to meet the low-latency demands of international trading firms looking
to execute cash, futures and options on the NSE without the need to
obtain exchange membership.
"Apart from Orc's speed and performance, we were impressed with the
robust real-time risk management capabilities within the system. This
powerful addition allows us to satisfy the low-latency trading needs of
our international clients," said Vineet Bhatnagar, Managing Director,
"Having our products certified by the NSE for direct, non-membership,
market access is a significant milestone for our expansion in India and
a great testament to the attention Orc pays to the business and
regulatory needs of our customers on a global basis," said Greg
Chambers, President APAC, Orc. "Through close co-operation with
PhillipCapital, we have established a world class offering that
satisfies the demands of our international trading customers looking to
access the NSE via a local broker member."
The Orc Access solutions allow brokers to offer buy-side firms access to
liquidity pools including exchanges and ECNs, without the need for
exchange membership. Orc provides the ability for the member firm to set
and control trading limits and monitor order and trade flows of their
customers on a real time basis via its Orc Flow Control product set.
Orc is a leading provider of technology and services for the global
financial industry. Since 1987, Orc delivers trading and market access
solutions used by proprietary trading and market making firms,
investment banks, hedge funds and brokerage houses worldwide.
Orc develops and provides the tools needed for running profitable
trading or brokerage businesses in today's competitive and ever-changing
With market presence in all major global financial centers, Orc provides
sales and support services from its offices across EMEA, the Americas
and the Asia-Pacific regions.
Orc is owned by Nordic Capital Fund VII.
About PhillipCapital Group
Established in 1975, PhillipCapital is an integrated financial
institution which offers a full range of quality and innovative
financial services to retail, corporate and institutional customers. Our
comprehensive suite of financial services includes fund management, unit
trusts, insurance planning, regular savings, investment research and
broking in bonds, securities, futures, contracts for difference,
exchange traded funds, foreign exchange, precious metals and
commodities. Institutions can also benefit from our corporate finance
and advisory services as well as information technology solutions.
With more than 3500 employees globally, our assets under management
worldwide totals more than USD 22 Billion with shareholders' funds in
excess of USD 1 Billion.
PhillipCapital operates in the financial hubs of 16 countries, with
offices in Singapore, Malaysia, Cambodia, Indonesia, Thailand, Hong
Kong, China, Japan, India, Sri Lanka, UAE, UK, France, Turkey, Australia
In India, PhillipCapital provides access to local Equities, Equity
derivatives on NSE, BSE and MCX-SX. It is also a member on local
Commodity exchanges such as MCX, NCDEX, IEX and NSEL. PhillipCapital
India offers its products and services to a variety of client groups
such as Institutions, High Frequency traders, Professional traders, HNIs