Financial Technologies India (FTIL) has executed a Perpetual License Agreement with IEX for granting license of the application software PowerARMS DAM, PowerARMS TAM & REC, Back Office and SLDC software installed in India along with source code to IEX exclusively for its internal use and to exploit and modify the same for any further development including trading from worldwide for the purpose defined in the said agreement, for an aggregate one-time license-fee of Rs 108 crore.
The said license is perpetual, irrevocable, non-transferable and non-assignable. Further the conclusion of the said agreement is subject to completion of customary conditions precedent.
FTIL is a flagship company of the Financial Technologies Group. It provides technology solutions and domain expertise for digital transactions and financial markets across all asset class including equity, commodities, currency and debt.
