Bangalore based Omnesys takes controlling

Mumbai - Bangalore based Omnesys Technologies Pvt Ltd (Omnesys), a leading provider of Order Management Systems and an Algorithmic trading platform provider today announced that it has entered into a definitive agreement to take a controlling stake in Chennai based Harsa IT Solutions Pvt. Ltd (Harsa IT), a provider of back office, PMS and wealth management products. The financial details of the transaction were not disclosed.

Omnesys products are used extensively by institutions, exchanges, brokers, traders and prop trading desks. Omnesys is an empanelled vendor on all the Stock, Currency and Commodity exchanges in India. Its trading solution NEST is used by leading brokerage houses both in India
and the UAE on Institutional Desks, DMA gateways, Automated / High Frequency trading, Internet trading, Mobile Trading, Retail and proprietary trading desks. A fully integrated online trading system for multi-asset products, NEST also provides easy access to trading for clients such as sub-brokers and individual investors.

Harsa IT has pioneered the ONLINE Broking back office solution offering with end to end integration of the accounting, operations, RMS, eKYC, CRM, with unique integration of LEAD/Prospect acquiring. All the solutions are offered on the XDK an in-house Rapid Application Development for quick go to market.

With this partnership, the combined offering from both companies will enable them to seamlessly integrate the products and provide significant value to customers. The synergy in this partnership will enable us to provide an integrated end to end solution for the broking community. With extended trading hours across different markets and time zones the integrated solution will benefit the broker with real time reports of clients’ balances, margins and exposures. This will also reduce the Total Cost of Ownership (TCO) for the broker.

This strengthens Omnesys position as a complete solutions' partner to brokers, banks, hedge funds, institutions and other customers. The company’s current product base handles front office and trade execution capabilities. Integrating with a back office solutions provider like Harsa IT completes the end to end solution from trade generation to trade reporting and trade accounting as well as post trade processing.

This enables Harsa IT to offer its products to a wider audience. Omnesys has more than 200 customers in the space and it opens up the ability to provide back office solutions to all of them. A seamless integration of the most of the customer product suite will enable cost and operational
efficiencies. Such a synergistic combination will also rationalize margining, real time updates and updation of exposure. Our customers though will be the biggest beneficiaries.

Shrikant Pandit Managing Director, Omnesys said "Harsa IT’s product base is an excellent extension to our products offerings and with this stake we will be providing a complete end to end solutions to our customers.”

G Sashi Kumar, Director, Harsa IT said "We have found an excellent partner in Omnesys and are very excited about the benefits our existing clients, employees and key partners can gain. Omnesys’ ability to forge strong relationships with customers will help us provide more varied and better value to customers.”

About Omnesys:

Omnesys Technologies Pvt. Ltd is a leading provider of Order Management Systems and an Algorithmic trading platform provider. Omnesys products are used extensively by institutions, exchanges, brokers, traders and prop trading desks. As a leading low latency, high frequency
trading platform Omnesys NEST provides significant liquidity, market making opportunities and arbitrage opportunities across various asset classes and in multiple venues.

OMNESYS head office is based in Bangalore, India. It also has offices in Mumbai, New Delhi, Kolkata and Mangalore.

For more details visit: .www.omnesysindia.com

About Harsa IT:

Harsa IT was initiated in the year 2002, to cater to the needs of Indian Capital markets. The focus area was solutions automation of all stock brokers operations in a single point interface. The aim was to integrate & automate the process flow to the highest level with minimal human interface to restrict errors.

Harsa IT is specialized mainly in back office software vendor with the objective of providing a complete answer to stockbrokers operations in multi-exchange and multi segment operations. The software is at par with statutory requirements of Double entry accounting system & delivers
comprehensive financial statements like Trial Balance, P & L Statement & Balance sheet. The scope covers functionalities of Cash Market, Derivatives, and Commodities & Depository under single point solutions.

For more details visit: www.harsait.com