Geojit Financial Services Selects Sun Microsystems’ Network Computing Infrastructure
-Technology and Stock Trading Innovators Join Forces in Ramping Up India’s Online Trading
-New Online Trading System Deployed Sun’s Solaris Operating System
Santa Clara, February 1, 2006 - Geojit Financial Services, India’s leading financial services company and operator of India’s first online trading system, announced its decision to launch Mercury Online, a new, enhanced online trading system based on Sun’s Network Computing Infrastructure, that will allow customers to trade online more effectively and efficiently.
Since its inception, Sun has designed and engineered security and reliability into its suite of network computing technologies. Demanding customers in market sectors as varied as financial services, telecommunications, healthcare, education and scientific research have chosen Sun for its keen understanding of customer needs and technological innovations that address those needs.
Geojit has developed Mercury Online by deploying Sun’s mid-range data-center servers based on Ultrasparc IV processors in a high availability configuration running on the Solaris operating system (OS) and Sun Cluster and is in the process of deploying the same on Sun’s Java Enterprise Webserver.
As a result ,Geojit now offers a whole host of online services to their cutomers and deliver highly flexible trading and settlement systems over the Internet thus empowering customers to trade effectively and efficiently.
Mercury online brings brokerage-class market data delivery and complete trading capabilities to the retail desktop. Retail investors/ dealers will now have the flexibility to trade in diverse instruments in different markets, right from their browsers or the thick -- front-end application.
The retail customers will have same facilities and functions that are available to market professionals so they can make informed decisions. They can now trade seamlessly across markets without having to use different systems and risk management tools. It has simple browser based access which help the customer to access the application from anywhere without technical issues.
Some of the benefits that will be available to retail customers as a result of the new online trading system include:
* Trading and Order Management
* Flexibility to trade in wide range of instruments in different markets
* Integrated news, streaming and historical market data
* Simple, customizable, browser based access
* The ability to maintain portfolios and orders in real-time
* Instant and easy order tracking
* Multiple Bank interfaces
* Depository Holding
* Secured Trade and Settlement system
* Reuters Investor Services and Charting Solution for informed decision
* Web based Customer Care services
* Robust and scalable -- improved performance and efficiency
“Sun’s products are designed with a objective of helping companies manage their business complexities with innovative yet practical solutions. We have an established presence in financial sector, and this implementation with Geojit Financial Services is a strategic reinforcement of our ability to help reduce cost and complexity. Geojit Financial Services leads the way when it comes to Online trading technology,” said Mr. Rajesh Rege, Director, Sales at Sun Microsystems India. “ The combination of Sun Network Computing infrastructure and Geojit’s matching technology, will allow retail capital market investors to take advantage of a secure and robust architecture for a whole new trading experience.”
Commenting on the partnership, Mr. C. J. George, Managing Director, Geojit Financial Services, said, “With the ever increasing customer and overall business requirements, and considering that technologies in the financial services space get outdated quickly, we needed a platform that was highly robust and scalable to enable us to respond faster and more effectively to our customer requirements, something that our earlier platform was unable to do. Our choice of Sun as our infrastructure partner was driven by the fact that Sun Microsystems’ expertise in the financial services arena is practically unmatched in the industry today. In addition to this, Sun proved it was able to deliver a complex infrastructure in a challenging environment, fitting our ambitious growth strategy.”
He further added, “ With the new infrastructure in place, we plan to increase our share of business through the online channel and expect the volume of business transactions to reach about 1 lakh or more per day .”
About Geojit Financial Services
Mr. C.J. GEORGE founded Geojit Financial Services Ltd. in 1987. From the small beginnings of a 5-employee firm, this organization has evolved to become a leading financial services company in India, with 1300 employee. In close to 2 decades of existence, the Geojit brand name has grown out of a single office premise in Cochin to over 325 offices both in India and abroad. Geojit manages Rs 4,000 crores assets for a customer base exceeding 275,000 satisfied clients. Geojit offers its clients products and services such as Equities, Derivatives, Internet Trading, Portfolio Management Services, Depository Services, Mutual Funds, Life Insurance, Commodity Trading, Margin Trading and Equity Research.
Geojit, a pioneer in its domain, has been at the forefront of latest developments in the financial services. Starting from being the first brokerage in the country to introduce internet trading, to bringing stocks and derivatives under an integrated, online trading screen. Geojit was in the forefront of sweeping changes that occurred in the capital market, from screen based trading to depository system.
Geojit’s outfit is the only licensed broking firm that specializes in NRI services with five offices in Middle East. Geojit was one of the first brokerage companies that came out with IPO and is the only one in this line with government agency participation. Kerala State Industrial Development Corporation has 13 percent equity stake in the company. An amount of Rs 10000 invested in Geojit in the year 1995 at the time of IPO is equal to Rs 664000 now after fully paying the capital back as dividend.
About Sun Microsystems, Inc.
A singular vision -- “The Network Is The Computer” -- guides Sun in the development of technologies that power the world’s most important markets. Sun’s philosophy of sharing innovation and building communities is at the forefront of the next wave of computing: the Participation Age. Sun can be found in more than 100 countries and on the Web at http://sun.com.
Sun, Sun Microsystems, the Sun Logo, Java, Solaris, Ultrasparc, and The Network Is The Computer are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries.
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