Omnesys Technologies Pvt Ltd, a provider of Order Management Systems and an Algorithmic trading platform, has entered into a definitive agreement to take a controlling stake in Harsa IT Solutions Pvt Ltd, a provider of backoffice, PMS and wealth management products.
With this partnership, the combined offering from both companies will enable them to seamlessly integrate the products and provide an integrated end-to-end solution for the broking community. With extended trading hours across different markets and time zones the integrated solution will benefit the broker with real time reports of clients’ balances, margins and exposures. This will also reduce the Total Cost of Ownership (TCO) for the broker.
This strengthens Omnesys position as a complete solutions’ partner to brokers, banks, hedge funds, institutions and other customers. The company’s current product base handles front office and trade execution capabilities. Integrating with a backoffice solutions provider like Harsa IT completes the end-to-end solution from trade generation to trade reporting and trade accounting as well as post trade processing. This also enables Harsa IT to offer its products to a wider audience. Omnesys has over 200 customers in the space and it opens up the ability to provide back office solutions to all of them.
Shrikant Pandit Managing Director, Omnesys, said, “Harsa IT’s product base is an excellent extension to our products offerings and with this stake we will be providing a complete end-to-end solutions to our customers.”
G Sashi Kumar, Director, Harsa IT, said, “We have found an excellent partner in Omnesys and are excited about the benefits our existing clients, employees and key partners can gain.”
Omnesys products are used by institutions, exchanges, brokers, traders and prop trading desks. It is an empaneled vendor on all the Stock, Currency and Commodity exchanges in India. Its trading solution, NEST, is used by leading brokerage houses both in India and the UAE on Institutional Desks, DMA gateways, Automated / High Frequency trading, Internet trading, Mobile Trading, Retail and proprietary trading desks. A fully integrated online trading system for multi-asset products, NEST also provides easy access to trading for clients such as sub-brokers and individual investors.
Harsa IT has pioneered the ONLINE Broking back office solution offering with end-to-end integration of the accounting, operations, RMS, eKYC, CRM, with unique integration of LEAD/Prospect acquiring. All the solutions are offered on the XDK an in-house Rapid Application Development for quick go to market.