New Delhi, July 15 (ANI): IBM today announced that it has signed a 10-year information technology (IT) services agreement with Delhi Stock Exchange, one of the leading stock exchanges in India. As part of this Rs 11 crore agreement,
IBM will provide business continuity and disaster recovery services to DSE as well as remotely host and manage its IT infrastructure.
This will help the exchange meet the stringent business continuity guidelines as laid out by Securities and Exchange Board of India (SEBI) before it could resume its operations after a hiatus of six years. By engaging with IBM in a complete operational expenditure (pay-as-you-go) model, DSE will also save 100 percent capital expenditure on IT.
Signed in June 2009, this agreement demonstrates IBM's focus to help clients 'Do more with Less' by engaging in an increasingly popular operational expense (opex) model. It also leverages IBM's global experience of over 40 years to provide business continuity and resiliency services to help clients minimize the costs and time-frames associated with recovering business operations in the event of a disaster.
DSE was one of country's largest stock exchanges - almost at par with Bombay Stock Exchange in the 90's, and has been in existence for over 60 years.
In 2002, however, the exchange became inactive due to negligible trading volumes. Seven years later, the exchange is now looking at resurrecting itself to its former glory-one where it used to be bustling with over 2,800 companies listed.
IBM will play a key role in helping DSE go live for trading by providing a highly secure environment and a robust resiliency solution with the goal of zero data loss once the exchange becomes operational later this year.
"As DSE looks to claim back its position as one of country's leading stock exchanges, the agreement with IBM couldn't have happened at a better time," said Mr HS Sidhu, Executive Director and CEO, Delhi Stock Exchange. "As the world's leading IT services company, IBM will bring immense value to the exchange by providing time-tested and world-class managed services-that would help DSE become operational and successful once again."
Vijay Gupta, Chairman - Business Development Committee, Delhi Stock Exchange remarked, "DSE will play a key role in the stock trading landscape of India, once re-launched. IBM's commitment to helping DSE achieve that goal is commendable. IBM's strong value proposition of providing managed services in an opex model was also one of the key reasons why DSE decided to choose IBM for this strategic relationship."
Under this agreement, IBM will build, host and manage the entire disaster recovery infrastructure for DSE from its data center. IBM will also provide 24x7 monitoring services for hardware and networking devices from its command center.
Neeraj Sharma, Director, Integrated Technology Services, IBM India/South Asia, "Companies today want to do more with less in these economically challenging times. DSE's trust in IBM is a testament to IBM's value proposition and world-class capabilities to help its clients improve the operational efficiency and cost effectiveness as well as accelerate time-to-market for services." (ANI)