Motilal Oswal gets tech savvier

VIRGINIA, US: Indian Financial Services firm Motilal Oswal Securities is strengthening its appeal to global buy-side organisations after signing a deal with Transaction Network Services.

By connecting to TNS' Secure Trading Extranet, Motilal Oswal Securities (MOSL), a sell-side broker, will benefit from having dedicated and secure connectivity to the international buy-side community.

Rajesh Dharamsi, Director of Institutional Trading at MOSL, said, "Before our connection to TNS, our connectivity was costly and unreliable. Now, with our connection to TNS' Secure Trading Extranet and our ability to comply with the international FIX standard for trading, we will strengthen our ability to serve the international buy-side community."

The agreement provides MOSL the opportunity to distribute a variety of trade-related messages including indications of interest, order routing, trade executions and carry out other Financial Information eXchange (FIX) and non-FIX transactions.

As a result of the deal, MOSL can now focus on international growth and connect to members of TNS' global financial community, as well as the Indian equity exchanges.

Alex Walker, Senior Vice President, for TNS' Financial Services Division, said: "We are delighted to be working with MOSL, which is one of the fastest growing sell-side organisations in India. Since MOSL is targeting rapid international growth it will surely benefit from the instant access that TNS' Secure Trading Extranet provides to a broad community of global financial institutions. Financial market participants that are connected to our network will also benefit from access to MOSL's services."

TNS' Secure Trading Extranet connects over 1,500financial community end-points, representing buy-side and sell-side institutions, market data and software vendors, exchanges and alternative trading venues. It boasts over 115 points of presence and provides services to clients in over 28 countries across America, Europe and the Asia Pacific region, with its reach extending to many more countries.