Thomson Reuters NEXTRA enabled trading platform launched by NCDEX

Bangalore, January 9 2017 – Thomson Reuters has developed India’s first Financial Information Exchange (FIX) protocol based trading front-end system “NEXTRA”, for National Commodity & Derivatives Exchange Limited (NCDEX), India’s leading commodity exchange, to help customers seamlessly trade commodities on the exchange. NEXTRA is built on the OMNESYS NEST platform, which brings greater scalability, convenience, speed, security and transparency to the users.

The entireFront-end Exchange-level computer-to-computer (CTCL) solution is provided byThomson Reuters as managed services to NCDEX wherein Thomson Reuters remotelymonitors and manages the setup from their operations centre based out ofBengaluru. The NEXTRA product consists of both the Corporate Manager and CTCLtrading product based on the FIX protocol. 

NEXTRA isequipped to execute regulatory changes quickly and cost-effectively, whichassists in efficient intra-day closure, pre-order checks and order flowmonitoring. It is one of the country’s fastest trading systems which brings adynamic experience to users to execute complex trading strategies. It will alsobe better suited to offer products such as options and indices, besideshandling high frequency/algorithmic trading. 

NEXTRA isequipped with a large processing capacity of 1,000 orders per second (which cango up to 3,000 orders per second). 

Speakingabout the product, Mr. Pradeep Lankapalli, Managing Director, SouthAsia, Thomson Reuters said, “NEXTRA brings the global FIX protocol toIndia’s prime commodities market. Customers and the wider industry will benefitfrom the efficiency, security and transparency of this innovative tradingsystem on NCDEX.” 

Mr. SamirShah, Managing Director and CEO, NCDEX, said, “It is our endeavour to offer the market participantsa superior and much improved trading experience and we are happy to have foundan opportune partner in ThomsonReuters. NEXTRA cuts across the spectrum of all users of the platform and isour investment in the future.”


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