ISE to launch iAccess

MUMBAI, APRIL 4: The Inter-connected Stock Exchange of India Ltd ISE will be launching its iAccess system in Mumbai from Wednesday. With...

MUMBAI, APRIL 4: The Inter-connected Stock Exchange of India Ltd ISE will be launching its iAccess system in Mumbai from Wednesday. With the launch of Mumbai operations, members of the participating exchanges who are registered as traders and direct trading participants who are registered as dealers located in Mumbai can participate in the ISE segment.

Mayya said quot;introduction of iAccess system in Mumbai is an important milestone in the development of the Indian capital market, as investors in Mumbai can now access new markets through traders and dealers of ISE.quot; Initially, ISE expects about 30 traders and dealers to start operating from Mumbai. 8220;Traders and dealers of ISE would provide a cost-effective and convenient mode for direct investment in the securities of these companies from Mumbai using iAccess,quot; he said.

ISE had recently enrolled about 500 dealers from all over the country and these dealers along with traders from the participating exchanges would be able to access ISE and NSE segments through iAccess system. After Mumbai, the system will be commissioned progressively in other cities, including Calcutta, Delhi and Chennai. Eventually, about 500 traders and 500 dealers spread across more than 70 cities are expected to trade on the ISE and NSE segments by the end of 2000.

Joseph Massey, managing director, ISE, said with the availability of multiple markets through iAccess at such a low entry cost, ISE traders and dealers will be highly competitive.

ICICI, Sun Microsystems sign MoU

MUMBAI: ICICI Infotech and Sun Microsystems have signed a memorandum of understanding MoU forging a four-point partnership to create infrastructure for both the companies to compete effectively in India. 8220;This MoU will enable us to develop new business opportunities by capitalising on each other8217;s core competencies and contribute to e-enablement of Indian businesses,8221; ICICI MD and K V Kamath said.

The MoU envisages incubating dot com start-ups, setting up data centres with dot com competency, sharing data centre services based on application service provider ASP model and setting up disaster recovery centres. 8220;Sun and ICICI Infotech will help transform innovative ideas into successful E-business ventures,8221; vice-president and MD, Sun Microsystems-Asia Pacific, Lionel Lim said.