Stratus Technologies has signed a global marketing agreement with Elind of India to provide a continuously available Windows 2000-based trading solution to the securities industry.
Under terms of the agreement, Stratus and Elind will collaborate to provide global stock exchanges with the Stratus ftServer system as the fault-tolerant hardware platform for Elind's Stride trading solution.
Stride facilitates screen-based trading of equities and bonds, as well as clearing and settlements. Elind claims to be the first equity and debt trading solution in the world written for a Microsoft Windows operating environment running on Intel architecture-based platforms.
"Elind and Stratus together are poised to deliver a comprehensive trading solution that will serve as a new price-performance standard for stock exchanges and result in a radical change in transaction costs," says Mangal Das Shetty, CEO of Elind. "The Stride suite of exchange applications complements the Stratus ftServer platform perfectly to achieve mission- critical straight-through processing on open platforms," he says.
Headquartered in Bangalore, India, Elind has automated the trading operations for four regional stock exchanges provided order routing and Internet trading products to the technology arm of the National Stock Exchange of India.