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|September 10, 1997||
HCL Comnet bags OTCEI jobHCL Comnet Systems and Services Limited, India's leading enterprise networking systems integrator and a part of the $550 million HCL Group, has been selected to upgrade the existing online trading network at the Over the Counter Exchange of India.
Through this upgradation, OTCEI expects to increase trading traffic and transactions and create a capacity for the exchange to service a greater number of online traders.
OTCEI currently has a network of about 1,000 brokers, each with a 'trader workstation', spread across 42 cities in the country. At any given point, 350-400 of these TWS are active, averaging 25,000 data transactions per day. In its expansion exercise, OTCEI aims at enabling 800 TWS to be active at any time during trading hours, capable of supporting 50,000-100,000 transactions per day.
The exchange expects the number of TWS to increase to more than 1,500. In addition, the expansion is also required to support and integrate OTCEI's new business applications like the nation-wide depository, clearing house, online surveillance system and non-trading market constituents like registrars and settlement banks.
According to a press release, OTCEI's central server is located in Bombay to which all trader workstations of brokers in the city are connected via leased lines. Brokers outside Bombay dial in to dedicated pads in their respective cities which in turn are connected to the main server. With the network in place, brokers will now have the option of using USAIS to connect to the central server located at Bombay.
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