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NSE to withdraw NOW buying and selling system

New Delhi: 63 moon technologies on Tuesday reported it will offer investing software program Odin at a 50 for every cent discounted price to permit sleek changeover of buying and selling terminals from the National Inventory Exchange’s NOW system.
The transfer will come a day after the Countrywide Inventory Trade (NSE) announced that it would discontinue NOW buying and selling system from mid-September.
NOW is a Pc to Pc Website link (CTCL) facility as a result of which brokers had been accessing the exchange’s investing platform.
“Odin, which holds about 70 per cent of the retail broking market share in investing program, has resolved to deliver a discount of 50 per cent on its pricing and technological support to allow smooth transition of buying and selling terminals from NSE’s NOW,” 63 moons reported in a launch.
In a release on Monday, the exchange said it has made the decision to discontinue the NOW system from September 14.?
“Accordingly, customers are suggested to migrate to alternate buying and selling platforms accessible in the market by conclusion of day September 13, 2020,” it explained.
The platform has been operational for 12 decades.
As for every the release, around the previous few a long time, exchanges environment in excess of have stepped back again from furnishing front-stop application and have commenced publishing APIs for the ecosystem to build customised options that suit just about every brokerage’s requirements.
In line with this world-wide trend, the bourse explained, it has commenced publishing simplified APIs (Software Programming Interface) for customers/ builders to create ideal solutions for brokerages.
“We consider the time has now appear for the exchange to phase again from delivering buying and selling front-finishes,” it additional.
NSE, the country’s initial bourse to implement electronic or display screen-centered buying and selling, is also the country’s largest stock exchange in India in conditions of full and average every day turnover of equity shares.

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