Delhi Stock Exchange Teams up with IBM to Re-start its Operations
IBM has signed a 10-year information technology (IT) services agreement with Delhi Stock Exchange (DSE). As part of the agreement, IBM will provide business continuity and disaster recovery services to DSE, as well as remotely host and manage its IT infrastructure. This will help the exchange meet the business continuity guidelines laid out by Securities and Exchange Board of India (SEBI) before it could resume its operations after a hiatus of six years. By engaging with IBM in a complete operational expenditure (pay-as-you-go) model, DSE will also save 100% capital expenditure on IT.
DSE was one of country’s largest stock exchanges – almost at par with Bombay Stock Exchange in the 1990’s, and has been in existence for over 60 years. In 2002, however, the exchange became inactive due to negligible trading volumes.
Vijay Gupta, chairman – business development committee, DSE, said: “DSE will play a key role in the stock trading landscape of India, once re-launched. IBM’s commitment to helping DSE achieve that goal is commendable. IBM’s strong value proposition of providing managed services in an opex model was also one of the key reasons why DSE decided to choose IBM for this strategic relationship.”