LONDON (Alliance News) - Financial software company First Derivatives PLC on Monday said it has signed a contract with the National Stock Exchange of India Ltd.
The deal covers a series of trading services based on First Derivatives' kdb+ software platform.
The system has now gone live following a period of user testing, allowing the exchange operator to provide its clients with a service to test algorithms prior to them going live.
No financial details on the contract were disclosed.
"This is an important win for FD, once again referencing our software's ability to manage large volumes of real time data and, in this case, help exchanges protect their integrity while allowing their market participants to deploy algorithms quickly and safely. We are delighted to welcome NSE as a client," said First Derivatives Chief Executive Brian Conlon.
Shares in First Derivatives were up 0.9% to 1,512.76 pence on Monday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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FD Technologies (FDP)