IBM, RiteChoice Tech to tie up

BANGALORE, September 9 : Chennai-based RiteChoice Technologies Pvt.

Ltd. (RTPL), is taking its Spectrum 2000 to the national market. The

company plans to integrate the Spectrum 2000 suite with IBM’s Integrated

Trade Management System (ITMS), a front office online equity order routing

system tailored for Indian stock markets.

The company claimed that during the last one year, several modules of

Spectrum 2000 have been sold to large brokerage houses that include DSP

Merrill Lynch and SSKI in Mumbai. RTPL claimed that the integration with

IBM will provide customers who have installed IBM’s ITMS for trading and

RiteChoice’s Spectrum 2000 for middle and back office functions,

straight through processing capability.

RTPL has entered into an agreement with IBM Global Services India to be

the value-added remarketer for ITMS in India. Further, it has been

recently chosen by IBM to be its advanced alliance partner for the Indian

securities industry under the IBM Solution Developer Marketing Program.

The partnership will enable e-business solutions for the stockbroking

industry.