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NSE plans to digitise 50% regulatory processes

NSE, Indian Chamber of Commerce, NEAT, marketplace digital, institutional traders

By Urvashi Valecha

The National Stock Exchange (NSE) is looking to digitise around 50% of its regulatory processes by next year, chief technology and operations officer Shiv Kumar Bhasin said on Thursday on the sidelines an industry summit organised by the Indian Chamber of Commerce.

Currently, the NSE has around 2,700 paper processes that still exist and the bourse is working towards digitising them in FY21. Bhasin said there were more technological innovations in the pipeline. One of these innovations would be making the entire marketplace digital. "When any particular business task is down, today they (traders) still have to contact the staff and send emails, we want to fully automate that process," Bhasin told FE.

The bourse is working towards upgrading the host trading system to a hybrid cloud infrastructure. This will make the stock exchange better equipped to handle sudden booms in trading. Bhasin said, "Today, we handle 200,000 orders per second and want to enhance it to 1 million orders per second."

The NSE has tied up with companies like Intel and Palo Alto to help it with the research and development for various projects. Bhasin said, "They are trickling every quarter, every six months. There are some platforms that have a long timeline, a five-year timeline in some cases as well, but what we have done is that we have broken them into shorter milestones." The NSE currently uses the NEAT (National Exchange for Automated Trading) platform for traders and the DMA, an algorithm platform, for institutional traders.