Search the Internet           Tips

SSI arm to computerise Bombay oils bourse

The Bombay Oilseeds and Oils Exchange, which plans to automate commodities futures trading by April 2001, has entered into an alliance with SSI Technologies for total automation solutions, its president said on Friday.

"SSI Technologies will give us the hardware, software and networking services for our on-line plans," P M Chheda said.

SSI Technologies is a unit of software services and training firm SSI Ltd.

Currently domestic commodities futures are traded by open outcry in a ring on the exchange premises in Vashi.

Chheda said the exchange would share some of the revenues it earned from members' transactions with SSI Technologies, as part of the agreement.

The exchange plans to implement a local area network which will enable members with offices in the exchange premises to access the automated trading system.

The other options being offered are Internet trading and hooking up to the exchange via satellite, Chheda said.

The exchange has 650 members, of whom about 350 have offices in the exchange building, he said.

Back to top

(c) Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Tell us what you think of this report