The Bombay Stock Exchange (BSE) is planning to out source the servicing required for the raw or streamed lined data and info-vending products that the exchange provides to the various websites, research outfits and media houses. Currently, the job is handled by in-house technicians and the exchange is planning to wind up the process in the next few months.
An official aware of the developments said, ?The decision is being taken to do away with the day to day chores of the servicing required for the clients (websites and media houses). It had become unmanageable by limited manpower in times of some major technical hitches. The task will now be taken care by vendors known to us and we plan to complete the procedure by October this year?. In India?s other leading exchange, the National stock Exchange (NSE), this job is undertaken by a fully owned subsidiary of the exchange. At the back drop of a sustained bull run and increased stock market attention even non-business oriented media houses and websites had started to use data in raw or streamlined manner. These data resources are distributed real time or on a delayed basis through dedicated communication lines. The various products offered by the exchanges include data snapshots for the stocks and indices with one, two, five and ten minutes delay for the cash, derivatives segment, and debt markets. Apart from above corporate data such as shareholding pattern, results, and corporate announcement also form a vital part of the package.
Though the markets have tanked in the last six months the queries for such products have not waned and do comprise a part of the exchange?s income. ?We have around eight clients opting for the real time access while the number for the delayed segment stands around 100 and even with the markets down we haven?t seen slowdown in demands for such products (for websites)?, said the official.
However, the difference between both the exchanges lie in the fact that while NSE charges extra for the data on the derivatives segment, the BSE supplies the derivatives data free with the cash segment data.