Opus Software bags contract from Wall Street firm
By Sajeev Nair | 10 Jun 2004
Pune: Opus Software Solutions Pvt Ltd, a Pune-based software company, has bagged a contract worth $1.8 million from Wall Street stock broking company F-Ten Inc, outbidding global financial software majors like Davidge Data Systems, Realtick and BrassRing.
Under the contract, Opus Software would supply its financial suite, 'TradeNow', to the Wall Street-based company, which would enable F-Ten to provide order routing and access to New York Stock Exchange (NYSE) and Nasdaq.
'TradeNow' would also help in offering straight through transaction processing capabilities to F-Ten, according to Opus Software Solutions managing director Ramesh Mengawade.
This combination of applications — order routing, access to exchanges and straight through transaction processing capabilities — was not offered earlier by any company on any platform in the world, "which helped us get the contract," he said.
The other majors in the fray were Davidge, Realtick (a subsidiary of Townsend Analytics Ltd) and BrassRing, who were providing financial suites to companies around the world for the last six-eight years, Mengawade said, adding "this makes the deal important".
TradeNow is being used by five leading stock-broking firms on the Wall Street, including JMS Securities (Jenny Montgomery Scott), Wedbush Morgan Securities and Advantage Trading.
The suite is also being tried and tested by major brokerage firms around the world, he said, adding HDFC Securities is one of its clients in India.
