 "Unified Technology Solution For Retail Broking In India")
Dion Global Solutions (Dion), technology partner to the financial services industry, has announced that it has signed a partnership deal with Apex Softcell (India) Pvt. Ltd. (Apex). Through this deal, the retail trading segment in India will now have an opportunity to deploy a unified front and back-end system.
The retail broking industry has been using separate systems for their front-end terminal and back-end processes causing several operational challenges; one being the requirement of labour intensive time consuming processes at the end and beginning of a trading day when data needs to be formatted each time before manually transferring from one system to the other.
Through this partnership, Dion & Apex present a unified robust system that combines the benefits of a user friendly, feature-rich front end terminal, TradeAnywhere, and a robust widely acclaimed back-end system, Lidha-Didha (LD).
“A broker spends several post trading hours converting data reports into a format that is compatible with the back-office system to begin his end-of-day processing and report generation activities. Similarly, before the start of a trading day, the broker again has to convert these files to a format compatible with the front-end terminals. Even if he has a perfect trading terminal and a robust back office system, he still faces the challenge of data transfer between the two.” said Bhavesh M Desai, Managing Director, Apex. “We have partnered with Dion to integrate the two market leading tools – TradeAnywhere and LD and present a unified solution to the industry. This solution will eliminate manual processes of data transfer thereby removing the possibility of human error and will also prove to be a cost saving solution in the long run.”
Syed A Asim, COO – India, Middle-East & Africa, Dion, said, “Integrating the complete system for a retail broker and presenting a unified workflow has been our strategic focus for some time. Partnering with Apex enables us to present a strong system that will considerably reduce turn-around time for data interchange and save precious hours. We are confident this will bring a great sigh of relief in the industry and enhance a broker’s business performance several folds.”