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Dhimant Bhatt

Mumbai , June 16

NATIONAL Commodity & Derivative Exchange Ltd (NCDEX) has decided to allow automated trading through computer-to-computer link (CTCL) solutions to members on conditional basis.

NCDEX has introduced CTCL facility allowing trading and clearing members to develop front-end software to trade on the NCDEX trading system in April 2004.

"We are providing CTCL solutions through our listed empanelled vendors but the exchange has now permitted its members to develop and use their own in-house developed CTCL solutions or the ones procured from non-empanelled vendors," an official said.

NCDEX provides a CTCL facility for order entry, receipt of order and trade confirmation and also for receipt of data relating to trade quotations by using own trading front-end software.

Automated trading refers to a facility by the use of which buy/sell orders are automatically generated upon the fulfilment of certain specified parameters and entered by the software/programme facility into the NCDEX trading system to be matched by the exchange's system.

To use this facility, the trading and clearing members will have to get prior written permission of the exchange .

All automated trading orders need to be placed through unique user ID identified for the purpose.

More Stories on : Commodity Exchanges

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NCDEX to offer automated trading

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