"One expert on exchange infrastructure notes that it could well be a fallout from increasing competition with the Financial Technologies (FT) group, which dominates the market for such solutions. According to research firm Celent, FT’s flagship front-office trading product, ODIN, has an 80% market share in India.
Also Read Mobis Philipose’s earlier columns
According to market chatter, the competition has heated up to an extent where NSE refused to provide the application programming interface (API) related to its currency futures trades with FT. The buzz is that sharing the API would give the FT group, also the promoter of Multi Commodity Exchange (MCX), which will launch its own currency futures market on Tuesday, access to information such as who are the big traders in the currency futures market, in order to lure them to the MCX platform."
Why India Is The Future Of Future Financial Systems
From the open outcry system of 20 years ago, there are three major electronic exchanges (BSE, NSE, MCX) in India - and growing. These exchanges have now significant capacity to create software, systems, procedures, processes - for practically any commodity, asset or product.
This is the future of money.
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The 2ndlook model for a Third currency Bloc is ready. Join in to review, participate, critique and develop the First Cut. While the need for a new global reserve currency has been evident, there is very little in the public sphere. The speed of events has clearly caught the BRICS and Third World napping - and unprepared. But, not 2ndlook - who, from the very beginning, proposed that the world should stop clinging to the Dollar-Euro skirts.
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