BOSS-i takes over from BSE BOSS

Rajnikant Patel, Managing Director and CEO, Bombay Stock Exchange (BSE), has announced the successful implementation of Phase 1 of BSE’s Online Surveillance System— integrated (BOSS-i) by Wipro Infotech and Oracle. Boss-i is useful in detecting, analysing and clearing out market irregularities, if any.

Boss-i is able to take in data from several exchanges at a time and integrate newer segments. It has a real-time processing rate of around 200 transactions (average) per second. It also complies with global standards and regulations of the Securities & Exchange Board of India (SEBI). The BSE shifted from its earlier online surveillance system (BOSS) to BOSS-i.

The system runs on Red Hat Advanced Server 2.1 with the Intel Itanium 64-bit processor and works on the principle of an Oracle TimesTen In-Memory Database, not common in the Indian market. “The Oracle database does not use the traditional technique of storing data on a hard disk, thereby increasing access and search speeds,” Patel said.

According to him, BOSS-i is the first attempt globally to bring Business Intelligence (BI) to market transactions. He added that BI, once embedded in BOSS-i, considers the ‘if-then’ scenarios and provides better market investigation.

When asked why BSE chose Wipro Technologies for the project, Patel said that the company responded to an all-India tender. “The solution architecture they (Wipro Technologies) provided was both business integrated and scalable. Therefore, they automatically became the best choice,” Patel however did not comment on the investments made in the project.

According to a Wipro spokesperson, the project posed a lot of challenges early on. Boss-i was required to process data at market speed, and it needed a generic alert definition which was missing earlier. 35 technical experts and five technical teams were deployed over 13 months to execute the process.

—Rishiraj Verma