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successful product company should posses the capabilities
B2B space is rapidly gaining center stage the world over.
These platforms require robust and
scalable architecture capable of handling mission
critical applications on a 24x7 basis with real-time
Founded in 1995, Financial Technologies (India) Ltd. (FT)
leads the list of Indian companies focused exclusively on
developing software products for the financial services
industry. FT has various products for the Equity, Debt,
Money Market, Foreign Exchange, Commodities and Derivatives
markets and powers B2B e-Xchange. FT's e-Xchange Trading
Platform enables enterprises to offer exchange market based
products and services to clients. It supports high transaction
density for an ever-expanding marketplace by delivering
performance, scalability, open architecture and deployment
With the success and credibility behind FT-engines, FT is
positioned perfectly to provide end-to-end integrated products
for the B2B Exchange Trading Platforms. Network Magazine
caught up with Dewang Narella, chief technical architect
at Financial Technologies to know more about the emerging
scenario in the realm -of technologies for financial world.
the world of technologies for finance how important is it
to possess industry domain knowledge while architecting
both solutions as well as products? This is especially important
since you have a range of products looking into Commodities,
Forex, Treasury, Debt, Derivatives and Equities.
In order to architect a solution/product for any sector,
whether be it manufacturing
or finance, it is mandatory
to possess deep domain expertise of the sector, as well
as a foresight to anticipate emerging trends. In addition
to domain expertise, a successful
product company should posses the capabilities to innovate,
and have a strong technology vision for the market that
You were recently in news for deploying your e-brokerage
solution at Interconnected Stock Exchange. Please share
some details on that. What made you choose Microsoft as
a platform for choice as this was an enterprise wide solution
involving some highly
We have deployed ODIN (Open Dealer Integrated Network),
front-office online trading product. The Interconnected
Stock Exchange has deployed one of the most heterogeneous
networks (leased line/ISDN/Vsat/Dial-up
networks). In order to get a solution functioning over such
a diverse network is a challenge in itself. Along with this,
there is a complex task of handling more than 500 concurrent
user sessions. We have chosen Microsoft as a solution platform,
since this platform provides:
Cost benefit to customers
platform is scaleable horizontally
as well as vertically to handle loads that are evident in
the finance Learning
curve or training required at a customer site to manage
such an environment is lot easier as manpower is available
in the industry "FT
e.Cosystem" for brokers and financial intermediaries
that offers end-to-end
solutions for E-brokerage and Net trading is a well-known
product. Please share some details on it.
FT e.Cosystem is an end-to-end offering providing full Straight
Through Processing across systems. There are multiple components
involved Front-office, backoffice, Depository Backoffice,
and banking (Payment gateway) integration, which communicate
on a real-time basis.
Newer standards like FIXML are resulting in what is popularly
being termed as "Financial Convergence " as they
are helping in "Separation of Session and Application
Layer. How is FT leveraging such trends into its range of
Financial convergence as a concept
has been advocated by FT since the beginning of automation
cycle. All our existing systems communicate
on a real-time basis. We are moving towards integrating
international standards such as FIXML, STPML in to our products,
so as to provide standard interfaces for all our products.
However, in the pure business context, it is primarily important
to have the systems communicating
with each other. Internationally, these standards have emanated
because of existence of heterogeneous systems.
Straight through processing (STP) technology permits financial
software products to directly interact with the stock exchange
system by communicating with the exchange message structures.
Please share some details where you might have implemented
FT has been providing this technology
for more than 3 years now and is the heart of our trading
engines. Both the premier exchanges in the country, NSE
as well as BSE, have released messaging APIs so as to enable
a customized front-office application to communicate with
these exchanges. At FT we have developed a robust Exchange
Bridge Technology solution, which gives real time access
for NSE and BSE.
6. From a technical
perspective what are the key success factors for e-broking
Primary challenges in an e-broking solution are:
Speed of execution, which is dependent on the trading
with the exchange.
Smooth real-time integration between various system
for e.g. depository, banking
Solution scalability to handle increasing loads
Availability or uptime of the solution,
which is dependent on the robustness of the solution
Online Screen Based trading is catching up fast in the financial
trade. What kind of OLTP applications are you building for
the banking industry?
FT's focus has been and will continue
to be on the securities industry, whether be it equity,
derivatives, treasury or forex. As a matter of fact we are
looking at all transaction based markets, and are not foraying
into branch automation.
Players in the Banking industry have presently deployed
FT's backoffice products (Match, DPM, M3) as well as products
for the equity and treasury markets.
Worldwide product companies are fast moving to an ecosystem
model where they are now trying to sell a product
coupled with the solution integration. What is FT's strategy
in this perspective
since you are primarily
a product company?
One needs to look at a strong integration
model, wherein we are able to develop customized solutions
around our products that address the unique requirements
of our customers without compromising on performance. This
also necessitates the need to integrate seamlessly with
third party systems and legacy platforms.
What role do you see OFX standard playing in the integration
of Consumer and Business Banking?
has evolved over a period of years. There has been a convergence
in the standards also. The standard for the future will
be IFX, which provides
support for both corporate as well as retail banking. This
is on the payment side. SWIFT, as a standard, is still prevalent
and would continue to do so for inter bank transactions.
the wireless banking scenario
do you see the emergence
of mobile phones as point-of-sale payment devices? Are you
looking at providing payments infra- structure for M-commerce
services in the near future?
Definitely. With the emergence of PDA enabled devices available
and lot of standardization happening in the M-commerce space,
we would see mobile phones emerging as a single
most important device apart from the Internet.
Bhavish sood can be reached at email@example.com