ION Gains Approval for Algorithmic Trading on BSE

ION Markets has secured its registration as an Independent Software Vendor (ISV) for algorithmic trading on the Bombay Stock Exchange (BSE). This significant development allows BSE's exchange members to utilise ION's Fidessa trading platform, further expanding its capabilities in the Indian financial market.

The Bombay Stock Exchange, founded in 1875, is recognised as Asia's oldest stock exchange with more than 5,700 companies listed. With ION's registration, the integration of the Fidessa trading platform for algorithmic trading is anticipated to enhance the trading experience on the BSE. The move highlights the growing dependence on sophisticated trading technologies in India, where algorithmic trades on the Fidessa platform currently represent over 55% of all trades nationally.

Previously, ION was approved as an equities trading vendor on the BSE in June of last year, marking a continuous expansion of its services. Robert Cioffi, Global Head of Equities Product Management at ION Markets, emphasized that this registration offers seamless access to advanced algorithmic trading capabilities, providing a robust solution for market participants.

Sandeep Sabnani of ION Markets reiterated that the registration is a testament to the trust placed in the Fidessa platform. It not only reinforces ION's commitment to delivering innovative technology solutions but also solidifies its position in the Indian trading landscape.

ION's registration as an ISV for algorithmic trading on the Bombay Stock Exchange represents a pivotal advancement for the company. With the inclusion of the Fidessa platform, it is poised to play a significant role in the future of algorithmic trading in India. The company's strategic move aligns with the evolving needs of the market, ensuring enhanced trading efficiency and access to cutting-edge technology for BSE members.