Challenge
ESS needed to simplify its buy-side algorithmic trading process and boost trade volumes.
ESS entered the Indian brokerage space in 2011 amid intense competition and evolving regulatory requirements. Although the Securities and Exchange Board of India (SEBI) had already approved of algorithmic trading, stringent registration and disclosure norms were making it difficult for buy-side traders to complete transactions. In response, the financial major sought a robust platform to support high-performance algorithmic trading, and therefore partnered with TCS BaNCS to simplify front-end trading activities and improve back-office process efficiency.
Solution
TCS BaNCS helps improve trading efficiency with algorithmic trading solution.
TCS BaNCS developed a series of black box algorithms which were then integrated with the financial major’s securities trading platform. In doing so, TCS BaNCS ensured that the process did not disrupt ESS’ financial information protocol and normal order flow. This solution enabled the company to:
Seamlessly converge trading across markets, asset classes, and currencies
Facilitate event-driven, low latency high-performance trading
Dynamically change trade execution timings
Improve exchange throughput and capitalize on cross-asset opportunities
Integrate back- and front-office processes and improve the Straight-Through-Processing (STP) rate
“This partnership helped ESS address its Institutional clients’ need for optimum executions coupled with low latency and cost.”
