Omnesys Technologies, a provider of multi-asset trading software and systems and an Independent Software Vendor (ISV), has announced that United Stock Exchange (USE) – India’s specialist currency exchange, has increasing number of trading members opting for trading currency markets deploying algorithmic strategies and becoming active on the automated trading operations ‘NEST’ from Omnesys Technologies.’NEST’ is a well-accepted Computer to Computer Link (CTCL) platform for trading and the flagship product of Omnesys.

"Omnesys is proud to be associated with USE on their automated trading initiatives for its members. NEST, our market leading platform, is designed to service customers with improved trading capabilities facilitating order management and execution capabilities. The current version of the software is equipped with appropriate tools that allow members to actively manage their trades," said Shrikant Pandit, Managing Director, Omnesys.

"We are extremely delighted to announce that algorithmic trading has been picking up at our platform with more & more members expressing interest and opting for ATS operations through Omnesys to take advantage of opportunities that can be explored in currency markets presently. We are confident that Omnesys would be very useful for our members to trade in currency markets with proper risk management system in place," said T.S. Narayansami, MD & CEO, USE.

At present, USE offers four currency pairs that are USD-INR, BP-INR, Euro-INR and Yen-INR. As the market matures, USE intends to launch other currency pairs and open interest derivatives. USE has the approval from the Securities and Exchange Board of India (SEBI) to commence operations in currency options.