NEW DELHI: The Chief Minister of Delhi, Sheila Dixit, has urged the IT
industry to work towards bringing IT to the Indian citizen. The real challenge
to the IT industry is to bring the benefits of IT to the common man. "Then
and only then can we say that IT has arrived in India," she said. She said
that her government has undertaken various measures to promote IT in the state
and is keen on making it available to the underprivileged sections of the
society. The government has launched a scheme to provide computers to youths in
slums.
The CM was speaking at the launch of Financial Technologies’ Delhi
operations. She welcomed the company’s initiative and said that Delhi was well
placed for the IT revolution given the availability of knowledge workers and its
unique geographic position.
The Mumbai-based Financial Technologies develops software for the financial
sector. Essentially a products company, it has the distinction of being the
first company in India to go live on the NSE through the computer to computer
link (CTCL) solution using ODIN, a product developed in-house. It provides
solutions to financial institutions and intermediaries covering the entire
spectrum of India’s capital and financial markets including debt, equity,
money, market, foreign exchange, commodities and derivatives. Speaking on the
occasion, Financial Technologies CEO Jignesh Shah said, "Despite the small
size and population of the state, its volume of financial transactions is second
only to Mumbai." And this was incentive enough to start its operations in
Delhi, he added.
Financial Technologies had recently launched its end-to-end brokerage
solution under the name FT-e.Cosystem, which integrates all the constituents of
the e-trading architecture namely the stock exchange, the clearing house or the
bank and the depository. But the most interesting aspect of the solution is that
the verification with the clearing house is done in a matter of seconds even
before accepting the order online.