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Microsoft partners demo complex bourse system

Elind Technical Director K N Prakash says the deadline for the development of a hi-tech state-of-the-art trading systems in derivatives, to be used at places like the New York, Tokyo, Singapore and Hong Kong stock exchanges, is the last week of June 1998.

He revealed this at a 'Salability Day' meeting of his company held in Bombay where Microsoft and their industry partner Wipro, Digital, NCR, Tandem, Elind and Ionic Systems staged one of the largest performance systems demonstration in India.

A real life simulated stock exchange demonstration developed by Elind and running on Microsoft Windows NT Server and SQL server showed 20 million transactions on that day, which shows a capability of exceeding the combined transaction volumes of all the stock exchanges in the country put together.

Reacting to a query about the present stage of development of the system, Prakash remarked that "Although the specifications have been thought about, in technical terms, we are still in the design phase. For the moment, we are using the Windows NT workstations which are not only convenient but also helpful mutually since Microsoft is our partner."

In a typical international stock exchange like that of Wall Street in New York, the equities and the derivatives systems coexist in a parallel way. Unlike the equities system, where there are lesser number of mathematical calculations, the derivatives system is much more complex and involves a lot of complicated models which are used in the front-end modules. Accordingly, Elind does not see much scope in the future for the use of the system in typical stock exchanges in India like that of Bombay or New Delhi.

According to Prakash "The NSE is the only exchange in the country which can take up a system like the one which we are developing, primarily because of the enormous volumes of transactions involved if not for anything else."

- Compiled from the Indian media

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