just now
ION, a provider of trading, analytics, treasury, and risk management solutions for capital markets, commodities, and treasury management, has announced that it has been approved as an empaneled vendor with the National Stock Exchange of India (NSE). This approval allows ION's Fidessa trading platform to be used for trading equities, futures and options (F&O), and algorithmic trading on the NSE.
To receive this certification, the Fidessa trading platform underwent a thorough evaluation process to ensure its functionality complies with the NSE's exchange rules and relevant regulatory standards. With this approval, NSE exchange members can now utilize the Fidessa solution for trading equities and F&O, including Direct Market Access (DMA) and Smart Order Routing (SOR). The Fidessa platform also offers exchange members access to a variety of algorithmic trading strategies.
The NSE, recognised as the world's largest derivatives exchange by number of contracts traded and the third-largest equities exchange by number of trades, has played a significant role in the development of Indian capital markets. The exchange has introduced innovative products, such as the NIFTY 50 index, which has become a benchmark for the Indian stock market.
Robert Cioffi, Global Head of Equities Product Management at ION Markets, expressed the company's satisfaction in partnering with the NSE, stating, "ION is pleased to partner with one of the world's premier exchanges, and our successful NSE empanelment reflects the Fidessa platform's position as a trusted and effective solution for brokers trading in the Indian market. As a key strategic region for ION, India presents significant opportunities, and we are excited to bring our cutting-edge trading solutions to the market."
Sandeep Sabnani, Product Strategy and Growth, Equities at ION Markets, emphasized the importance of this milestone, saying, "ION's empanelment with the NSE marks a significant milestone, with our software now approved for multi-asset trading on India's largest exchange. This accomplishment demonstrates ION's commitment to supporting India's trading community with best-in-class technology solutions. Our goal is to empower brokers and banks to grow their business via a scalable, reliable, integrated offering that addresses India's unique and evolving trading needs."
