TNS expands network in India with connection to Kotak securitiesSeptember 11th, 2008 - 3:36 pm ICT by ANI
Virginia (United States) Sept 11(ANI/Business Wire India): Transaction Network Services (NYSE:TNS) has extended its presence in Asia with a connection to India-based Kotak Securities, the stock broking and distribution arm of the Kotak Mahindra Group.
Kotak Securities has enhanced its services to clients with fast, secure and reliable FIX trading connectivity, via TNS” extensive global IP network, the Secure Trading Extranet. Using the TNS Extranet will enable Kotak Securities to switch from traditional phone based trading to an electronic fully-managed format, with access to one of the world’’s largest financial communities of interest.
The company is a corporate member of both The Bombay Stock Exchange and The National Stock Exchange of India. Its operations include stock broking and distribution of various financial products - including private and secondary placement of debt and equity and mutual funds. Currently, Kotak Securities is one of the largest broking houses in India with substantial geographical reach to Asia Pacific, Europe, Middle East and America.
Ravi Iyer, Executive Director and Co-Head (Institutional Securities) at Kotak Securities, said: “Linking to the Secure Trading Extranet gives Kotak high performance and reliable connectivity, allowing us to improve the way we do business and strengthen our competitive position as the premier provider of broking services to the global investment community”.
Originally established in 1994, Kotak Securities is a division of the Kotak Mahindra Group, which services more than 3.6 million customer accounts. The Group has a network of more than 1,250 branches, franchisees representative offices, and satellite offices across 344 cities in India and offices in New York, London, Dubai, Mauritius and Singapore.
Alex Walker, senior vice president and general manager at TNS” Financial Services Division, said: “We”re delighted to be helping Kotak Securities capitalise on the opportunities presented by electronic connectivity and growing cross border trade.
“Today’’s announcement is a reflection of the rapid growth sweeping across the Asia market place, which is increasing demand in the region for TNS” fast, secure and robust data communication.”
With over 120 points-of-presence, TNS provides services to customers in 28 countries across America, Europe and the Asia-Pacific region, with its reach extending to many more.
Financial institutions using TNS” network can access a variety of mission critical trade-related messages, data and applications, which support order routing, trade executions, direct market access and algorithmic trading. (ANI)
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