NCDEX, the leading commodities and derivatives exchange, has selected MillenniumIT as its partner for scaling up its trading and surveillance system for futures and forwards (F&O) segments. The new system - NextGen - will provide enhanced functionality, enable additional products and offer trendsetting speed. MillenniumIT is the leading ultralow-latency technology provider and part of the London Stock Exchange Group.
The NextGen system will provide a faster trading engine, perhaps the country’s fastest, giving a big advantage to market participants. The new trading system will give a more dynamic experience to the user with features such as tick-by-tick broadcast and ease of executing complex trading strategies like butterfly and straddles.
Besides, it will also have improved capability to handle high frequency / algo trading. Additionally, it will be able to execute regulatory changes in a quick and efficient manner which will assist in efficient intra-day closure, pre-order checks and order flow monitoring.
NCDEX has chosen MillenniumIT’s multi-asset and ultra-low latency trading solution, Millennium Exchange for its matching engine technology and Millennium Surveillance to detect abnormal trading behavior. Both products are based on Millennium Advanced Platform (MAP).
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