The Hindu Business Line : NCDEX to raise VSAT base

THE National Commodity & Derivatives Exchange Ltd (NCDEX) is all set to become the country's largest online commodity exchange with its plan to increase its VSAT base to 1,250.

This network spanning across more than 250 centers in the country will enable more than 400 trading members of the exchange to undertake online commodity trading.

HCL Comnet, the country's leading IT services company partners NCDEX in this endeavour, according to release issued by the HCL Comnet.

Commenting on this project, Mr P.H. Ravikumar, MD & CEO of NCDEX said, "At NCDEX, our endeavour is to take commodity trading to more and more brokers to leverage the immense potential in this space.

HCL Comnet's technical expertise and their impressive past performance, has made us choose them for this phase of network expansion too."

Elaborating further on this venture, Mr Sanjeev Nikore, COO, HCL Comnet said, "NCDEX's continued successful partnership with HCL Comnet is an adequate pointer of their trust and good experience with us.

Commodity Exchanges are a segment of focus at HCL Comnet and being the preferred partner of choice for all 3 Commodity exchanges in the country - we are uniquely positioned to understand and respond to the specific challenges and needs of this space."

The network expansion plan comes barely within nine months of commencement of operations in December 2003, making NCDEX one of the fastest growing networks in the financial sector.

It is the rapid growth in members and increased city coverage, which has catalysed this growth at NCDEX.

As part of this turnkey project, HCL Comnet apart from the base implementation will also monitor and maintain the VSAT network for NCDEX from its central hub in Noida.

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