CMC set to supply BOLT to SE Asia
Business Standard — February 23, 2006

Tata group company CMC is set to offer its online trading platform, the Bombay online trading system (BOLT), currently in use at the BSE, to bourses in south-east Asia, the Middle East and South African countries. The software major is also planning to supply its core banking solution (CBS), TC-4, to banks in these regions. "We are in talks with a number of stock exchanges regarding implementation of BOLT platform. We expect to set up the system in at least one exchange this year," CMC Managing Director and Chief Executive Officer V Ramanan said. He, however, did not divulge the names of the stock exchanges.

The company plans to supply its CBS to at least one exchange this year and to two bourses in 2007. It will continue to increase the number of clients in these regions in the coming years, he added. BOLT trading platform was installed a decade ago at the BSE. The software is scalable and can handle large amounts of transactions. At the BSE, it handles over 35 lakh orders and 12 lakh trades per day and takes less than 2 seconds to execute each order.

For international customers, CMC would customise the solution depending on the needs of the clients. The scalability of the solution ensures that the product could be used for handling any kind of stock exchange-related transactions. For strengthening its presence in international markets, the company is also looking at providing its CBS, TC-4 to companies in these regions. CMC will market the products jointly with TCS. The company also plans to provide value-added biometric and insurance solutions apart from core banking and trading platforms.