Vela-PlusWealth boost at Mumbai trading
The National Stock Exchange of India (NSE) is adding automated trading platform, Metro, a trading and market access technology by New York’s Vela and proprietary trading firm Plus Wealth.
PlusWealth Capital Management is a registered member of the Securities and Exchange Board of India (SEBI), active in multiple markets including cash equities, options, and futures, and is currently providing server hosting, market data and market access for global firms looking to trade the Indian markets.
Vela’s Metro automated trading platform provides the options pricing, execution, risk management, and API extensibility tools to enable seamless integration and connectivity for clients that need access to NSE, locally and globally.
A Chicago-based hedge fund will be the first to take advantage of this market on the PlusWealth solution leveraging Metro’s technology, said Vela and PlusWealth on 28 Oct 2019.
Gaurav Chhabra, Designated Partner at PlusWealth, said, “We are delighted to be working with Vela to make our expertise available to clients outside of India. We believe this integrated PlusWealth/Metro offering is quite unique as traders now have access to a market that traditionally has been very difficult to enter.”
Ollie Cadman, Chief Product Officer at Vela, said, “There has always been barriers and challenges for traders outside of India to gain entry into this market. With the availability of NSE on the PlusWealth and Metro combined platform, global clients have the benefit of an integrated technology and broker solution to simplify electronic trading.”
“We are excited to onboard our first joint client and look forward to offering this convenience of NSE access to other Metro users in the options trading community,” he added.
Vela’s Metro trading platform is a high-performance, server-based system supporting automated, algorithmic and click trading strategies that underpin buy- and sell-side trading requirements. Offering a complete solution for options pricing, execution, and risk management, Metro provides traders with access to all major US and European options markets on a single platform – and now Indian markets.
Plus Wealth Inc is a proprietary trading firm active in multiple markets including cash equities, options, and futures. Fiinews.com
