Thomson Reuters to provide NEXTRA enabled trading platform to NCDEX

Thomson Reuters has developed and launched India’s first Financial Information Exchange (FIX) protocol based trading front-end system ‘NEXTRA’. The newly launched trading platform will be used for National Commodity & Derivatives Exchange (NCDEX), India’s leading commodity exchange, to help customers seamlessly trade commodities on the exchange.

NEXTRA is furnished with a large processing capacity of 1000 orders per second (which can go up to 3000 orders per second). The front-end is built on the OMNESYS NEST platform, which brings greater scalability, convenience, speed, security and transparency to the users.

The trading platform is prepared to execute regulatory changes quickly and cost-effectively, which assists in efficient intra-day closure, pre-order checks and order flow monitoring. It will also be better suited to offer products such as options and indices, besides handling high frequency or algorithmic trading.

Pradeep Lankapalli, Managing Director, South Asia, Thomson Reuters said, “NEXTRA brings the global FIX protocol to India’s prime commodities market. Customers and the wider industry will benefit from the efficiency, security and transparency of this innovative trading system on NCDEX.”