BANGALORE: National Commodity and Derivatives Exchange (NCDEX), India's leading commodity exchange, achieved a milestone today by deploying 500 VSATs across 127 centres in the country, enabling more than 250 NCDEX members to undertake online commodity trading. HCL Comnet, India's leading IT Services Company, partners NCDEX in this endeavour.
The VSAT network has been set up in a record time of 75 days covering urban and semi-urban areas including all major commodity markets including Kochi, Ahmedabad, Surat, Nagpur, Jaipur etc, making NCDEX the largest online commodity exchange of India.
As part of this turnkey project, HCL Comnet, apart from the base implementation, will also monitor and maintain the VSAT network for NCDEX from its Central Hub in Noida.
Commenting on this project, Ravi Kumar, MD of NCDEX said, “At NCDEX our endeavor is to utilize latest technology to enable seamless information flow amongst our members. HCL Comnet's technical expertise and their ability to deliver within time lines, were some of the key criterions for choosing them as our VSAT partner.”
Elaborating on this venture further, Sanjeev Nikore, COO HCL Comnet said, “HCL Comnet has been a leader in the VSAT space for over a decade. We have been constantly pioneering newer industry segments – be it stock exchanges, ATMs and now the commodity exchange revolution. Out of four commodity exchanges today, HCL Comnet is the preferred partner of choice for three – this certainly substantiates our leadership in this upcoming segment.”
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