New Delhi: Leading stock exchange NSE on Sunday said it has set up expert groups in business and technology verticals within the bourse to help bridge the widening technology gap among market participants.
The main focus would be to reduce the gap between large, financially stronger tech-savvy and the smaller, tech-dependent, financially weaker market participants.
'Sophistication levels between these two sets of market participants in India, vary significantly, and NSE would play a strategic role in bridging this widening gap, in an effort to deepen and widen the market infrastructure across the country," NSE Managing Director and CEO Vikram Limaye said.
This initiative assumes significance against the backdrop of large volume of small market participants looking up to NSE to provide the requisite leadership, as they are unable to invest in newer technologies and catch up with sophisticated larger players to provide efficient services to their large retail customer base.
The National Stock Exchange (NSE) is harnessing, in a big way, Machine Learning, Artificial Intelligence and BlockChain Technologies, internally as well, to bring in operational efficiencies, improve delivery services and reduce costs, Limaye said.
"We keep benchmarking with the best in class practices followed in other global exchanges and keep applying these technologies internally," he added.
The new technology modelling will help in maintaining trading accuracy and strengthen surveillance and risk management processes within the capital market eco-system, Limaye said adding" machine learning will also enable more efficient reporting to our regulators''.
Limaye, however, declined to divulge the technology spend NSE was planning in the new financial year.