ION has become registered as an independent software vendor for algorithmic trading on BSE (formerly Bombay Stock Exchange).
The development will enable exchange members to use ION’s Fidessa algorithmic trading functionality on BSE.
In June last year, ION received approval to become an equities trading vendor on BSE. The firm said this latest approval further strengthened its support of the evolving needs of the Indian capital markets.
BSE confirmed that it has certified the Fidessa trading platform’s integrated suite of algorithms as compliant with exchange rules, regulatory standards, and risk management requirements.
“As a registered vendor on BSE, ION now offers seamless access to advanced algorithmic trading capabilities, fully integrated within the Fidessa trading platform,” said Robert Cioffi, global head of equities product management at ION Markets.
“India remains a key strategic market for ION and this empanelment enhances our ability to meet the region’s evolving needs. We are proud to contribute to the growth of Indian capital markets by enabling cutting-edge algorithmic trading.”
Fidessa’s trading solution offers advantages to traders in India’s markets, where algorithmic trading drives more than 55% of all trades in the country.
The solution allows for real-time performance monitoring, automates workflows to optimise trading desks, and removes the need for additional tools.
“ION’s registration as a vendor for algorithmic trading on BSE is a significant step forward, demonstrating the trust and confidence in our Fidessa platform,” added Sandeep Sabnani, product strategy and growth, equities at ION Markets.
“This achievement reinforces our dedication to providing market participants with advanced technology solutions tailored to the needs of the Indian capital markets.”