TradingScreen a provider of execution management systems, is expanding into the Indian insurance sector. Today, the company announced that three of the top 10 Indian insurance sector companies have implemented TradingScreen’s EMS for their execution and allocation needs in order to comply with local Insurance Regulatory and Development Authority (IRDA) regulations.
In addition, Trading Screen signed an agreement with three leading diversified financial services groups in India — Edelweiss, Antique and Motilal Oswal. This increases the number of TradingScreen’s destinations in India to 25.
Under the agreement with Edelweiss, Antique and Motilal Oswal, clients will get real-time access to the Indian market via the brokers, as well as those firms’ algorithms via TradeSmart, TradingScreen’s customized front-end Graphical User Interface (GUI) for accessing the markets.
Commenting on the client wins in India, Nathan Walker, head of sales, South East Asia and Australia, TradingScreen. “India is an important market for TradingScreen and we are very pleased with the buy side’s acceptance of TradeSmart in Mumbai. These new agreements reflect our growing strength in India and underpin the investment decision we made earlier last year to focus on India as brokers also invest in Smart Order Routing technology and algorithms.”
“Driven by clients, insurance companies in India are always looking for more efficient ways to comply with the IRDA regulatory requirements. We are pleased that three of the top 10 Indian insurance sector companies chose TradingScreen’s TradeSmart EMS in order to ensure this,” stated Vibhanshu Bahuguna, Head of Sales, India, TradingScreen, in today’s release. “TradingScreen is often called upon to provide bespoke solutions whether it is in the front, middle or back office.” TradingScreen will be demonstrating its range of products at the India FIX Conference 2012 , on March 6th in Mumbai’s Grand Central ITC Hotel.