What is bse online trading system
Security This should be a vital and integral part of the design architecture. The hardware and software elements should be built around a layered security architecture. And it should be held in place with a well-documented security policy. Shenoy says "Security is the most crucial element in the network.
All applications have been built with a conscious approach towards security. The security policies are tightly integrated and regularly scrutinized to leave no room for compromise. All the applications and OSs are hardened periodically for safety. Backup and recovery This has emerged as one of the vital aspects of business continuity.
When online exchanges were designed a few years ago, perhaps a lot of emphasis was not placed on this aspect, as it is today. However it's not difficult to add business continuity processes to an existing network. Shenoy says, "As a backup to our VSAT network, a terrestrial-based trading network was deployed in the middle of We have more than leased lines connecting our nationwide locations.
We are the only stock exchange in the country to have a fully-redundant business continuity site in Chennai. Availability Ideally online exchanges should have 'five-nines' availability.
Exchanges usually prefer to host its infrastructure in-house and not use the services of an external data center. NSE claims to achieve uptime greater than Applications It's difficult to deploy out-of-the-box applications at exchanges as each has a unique architecture based on factors like operations flow, trading volumes, number of members, number of users, and number of locations.
The applications like trading, clearing, risk-management, surveillance, index computation, listing, membership, and accounts may be developed in-house or by external software developers.
The 'big two' architectures NSE and BSE, the 'big two' exchanges believe in updating and upgrading its technology systems to keep delivering according to commitments and promises made to its members, partners, and customers.
NEAT stores all trading information in an in-memory database at the server end to achieve minimum response time and maximum system availability for users. The telecommunications network uses the X. Each trading member trades on the NSE with other members through a PC located in the trading member's office. These leased lines are multiplexed using dedicated 2 MB optical-fiber links.
The WDM participants connect to the trading system through dial-up links. The systems claim to handle up to two million trades a day. BOLT has a two-tier architecture. The trader workstations are connected directly to the backend server which acts as a communication server and a Central Trading Engine CTE. Other services like information dissemination, index computation, and position monitoring are also provided by the system. A transaction monitoring facility in the Tandem architecture helps keep data integrity through non-stop SQL.
Access to market related information through the trader workstations is essential for the market participants to act on real-time basis and take instantaneous decisions. Market information is fed to news agencies in real time. The exchange plans to enhance the capabilities further to have an integrated two-way information flow.
Online trading portals Online trading is the investment activity that takes place over the Internet without the physical inclusion of the broker. An end user investor has to register with an online trading portal like ICICdirect. The investor thus gets into an agreement with the firm to trade in different securities according to the terms and conditions listed down on the agreement. Since the servers of the online trading portal are connected all the time to the stock exchanges and designated banks, order processing is done in real time.
Investors can also get updates on the trading and check the status of their orders either through e-mail or through the interface. Portal design Harish Malhotra, Chief Technology Officer, Motilal Oswal Securities Limited, says "the portal should be simple to navigate, full of useful and relevant information which is available with the lowest number of clicks, and should be personalized.
Users are usually given options to link their bank accounts, Demat accounts, and brokerage accounts into a single interface. There is also a single window for all exchanges and a single screen for the complete order routing mechanism. The hardware used comprises Web and application servers, switches, routers, firewalls and security devices, and specialized appliances.
The systems have been customized by its in-house team. The trading applications are outsourced. In addition to equity and debt, the Exchange allows for trading of mutual fund units and derivatives. Its benchmark index, the Sensitive Index Sensex was launched in In , the Exchange changed from being simply an association of brokers to became a corporate entity.
The administrative structure of the Exchange is headed by a board of directors, below which is a governing council and management that presides over its day-to-day functioning. By submitting you agree to receive email from TechTarget and its partners.
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