Algorithmic Trading in India

INDIA: Religare Technologies annwww.www.ciol.com/Enterprise/News-Reports/Marwadi-Finance...trading/.../0/ounced a strategic alliance with First Derivatives, a capital markets software provider to distribute First Derivatives’ “Delta Algo” trading product to the Indian market.

According to a press release, Delta Algo is one of the flagship products in First Derivatives' Delta suite, the Company's high performance modular suite real-time trading, CEP, market data, accounting and risk management applications launched in 2008. Delta Algo provides the necessary performance and flexibility required to engineer, back-test and deploy a wide range of trading strategies, and to manage associated risk in real-time. The technology is already in use at a number of the world’s leading financial institutions.

Brian Conlon, Chief Executive Officer of First Derivatives commented, “Given the increasing demand for our Delta product suite, we have been looking to expand our channels to market and we are therefore delighted to announce the agreement with Religare Technologies. Recent regulatory changes have meant that, for the first time, program trading is permitted on Indian Exchanges and this has triggered significant demand for Delta Algo.  We have already demonstrated our program trading software to a number of financial institutions in India and this has resulted in a number of live enquiries. India is a significant market and we are delighted to announce the appointment of Religare Technologies to distribute our product. Religare Technologies is one of the leading players for IT Services in banking and financial services in India and boasts many of the major financial institutions as clients. We look forward to working closely with Religare over the coming months to further establish the Delta brand in India”.

Sanjay Padode, CEO, Religare Technova Ltd, stated, “The appointment by First Derivatives served only to endorse further the success of our strategy of developing deep domain expertise -delivered through alliances forged with niche global players, such as First Derivatives, that have world leading expertise in capital markets”.