Virginia (United States), July 28 (ANI/Business Wire India): The Bombay Stock Exchange (BSE) has appointed financial connectivity provider Transaction Network Services (NYSE:TNS) to provide trading functionality and market data information via its fully-managed Secure Trading Extranet.
To date access to BSE for trading and market data has been limited to participants who have set up their offices within India.
Typically these offices were connected over leased lines. The fully managed connection to TNS' Secure Trading Extranet will provide managed connectivity for major financial organisations in India and outside the country.
By utilising TNS' Secure Trading Extranet, BSE anticipates a reduction in the number of network management issues faced by both the BSE and its customers.
Kalyan S. Bose, Head of Corporate Affairs at the Bombay Stock Exchange, said: "The Asia Pacific region's trading capability is expanding rapidly and we're committed to establishing an efficient environment for trading. Electronic trading is playing a key part in shaping the way organisations transact, so by boosting our services with TNS' Secure Trading Extranet, we're not only improving practices for our existing members, but also laying the foundations for further growth."
The Bombay Stock Exchange is the oldest stock exchange in Asia, with over 4800 companies listed. Established in 1875 and fully electronic since 1995, the BSE considers the improvement of electronic trading an essential part of its growth strategy.
John Owens, Vice President for Exchanges and ECNs at TNS, said: "We are delighted to be supporting BSE. This connection demonstrates BSE's commitment to providing an efficient electronic trading environment.
"As one of the largest stock exchanges in the region and with India's rapidly expanding economic status, this connection gives our existing customers the opportunity to access an important market, whose development is seen as a barometer for economic growth."
With over 120 points-of-presence, TNS provides services to customers in 28 countries across America, Europe and the Asia-Pacific region, with its reach extending to many more.
Financial institutions using TNS' network can access a variety of mission critical trade-related messages, data and applications, which support order routing, trade executions, direct market access and algorithmic trading.