uTrade partners with SMC Global to offer Low Latency Algo Trading
Mumbai, India, May 28, 2015: uTrade Solutions, a financial trading technology company providing multi-asset trading platforms for online & algorithmic trading, risk management and portfolio management solutions has today announced that it has been roped in by SMC Global Limited, one of India’s leading financial services firms, to enable it to transition its trading platform to uTrade’s low latency algorithmic trading platform.
The Arbitrage Algorithmic platform muTrade would enable arbitrage traders, market makers and HFT quants at SMC to leverage technology for identifying more efficient trading opportunities across markets by facilitating faster order execution through spreader algos, multi-leg equity, futures, options, multi-exchange arbitrage and proprietary strategies.
The partnership would also focus on enabling SMC Global to enhance its R&D capabilities in the domain of structuring quantitative trading models and latency optimization within the hardware operating system and software which would be beneficial for clients across the board.
Commenting on how SMC and uTrade stand to benefit from this tie-up, Kunal Nandwani, CEO & Co-Founder of uTrade Solutions said, “A combination of offering the best in class automated trading technology with a strong focus on user experience and risk management has always been the nub of our service offerings to our clients. We are extremely excited to partner with SMC Global who have been playing a pivotal role in driving capital markets growth for more than a decade in India. We are confident that our low latency trading platform would benefit the firm by boosting its trading opportunities. This partnership is yet another feather in the hat for uTrade, as we aim to grow our business in India.”
Emphasizing on the rationale behind this tie up, D.K Agarwal, Chairman of SMC Comtrade Ltd. said, “SMC has proactively been identifying emerging trends in the capital markets sector in order to gain a competitive edge over other market participants. With the percentage of algorithmic trades on the rise in Indian markets, it was important for us to give our traders and clients the advantage of technology to make them stay ahead of the trading curve. uTrade has one of the lowest latency APIs for algo building, with single digit microsecond latency from market data tick input to order output. Its platforms with comprehensive risk management, wide market access and superior service would help us in meeting our business goals.”
uTrade’s low latency infrastructure is live with Indian and International exchanges in co-location facilities. It works across asset classes namely equities, futures, options, currencies and commodities, and supports extensive pre-trade and post-trade risk checks.
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