KGiSL wins the Common infrastructure for Brokers Back Office Project from Stock Exchange of Thailand
August 18, 2021
KGiSL’s offering will be based on its flagship digital platform Dolphin that covers the end-to-end back-office system easing business operations through its seamless and controlled automation.
India / Thailand, 17 Aug, 2021: A global IT Products, Solutions, and Services provider, today announced the landmark contract that was won by KGiSL against significant competition from one of the largest stock exchanges in the ASEAN, The Stock Exchange of Thailand (SET). KGiSL will rollout Dolphin – a state of the art, cutting-edge technology back-office (BO) platform for brokers in Thailand. The platform will be hosted by SET and will be made available to brokers. The implementation is expected to be completed in the next 16 months.
KGiSL’s flagship product for Capital Markets – Dolphin, caters to 60% of the leading institutional brokers in India by supporting their back-office clearing and settlement operations. The new platform is set to become the one-stop-shop solution to the brokers of Thailand with its ability to handle multiple asset classes including Equities, Bonds, and Offshore Trading, for both retail and institutional brokers. The next generation technology platform has been tested for handling 5 million trades/ day and has the potential capability to scale vertically and horizontally, to support any increase in business volumes. Dolphin was chosen over the other leading global platforms, because it had a better fit to the requirements and also for the robustness, scalability, and automation capabilities, it offers.
Dr. Pakorn Peetathawatchai, President, The Stock Exchange of Thailand said, ” This is one of our most ambitious and challenging projects to establish a common, streamlined infrastructure that will open up new possibilities for Thai brokers to revolutionize their back office business models. We strongly believe that continued support from participating brokers in providing valuable insights, along with KGiSL’s delivery capability are key ingredients to contribute the project’s success.”
On the association with SET, Prassadh Shanmugam, Director & Chief Executive Officer KGiSL said, “This is a huge win for KGiSL. Dolphin has been the undisputed market leader in India so far, but we have had limited successes in other markets. This order opens up the entire ASEAN & APAC market to create similar success stories like how we have done in India. KGiSL is poised to invest more in Dolphin’s capabilities by adding Artificial Intelligence (AI), Machine Learning (ML), Business Intelligence (BI) and Analytics. I would also like to take this opportunity to thank Dr. Pakorn Peetathawatchai, President of The Stock Exchange of Thailand and the rest of the management in placing their trust in KGiSL and Dolphin.”
About The Stock Exchange of Thailand www.set.or.th
SET is the most liquid stock market in ASEAN with end-to-end services to empower seamless journey for all investors, securities brokerage companies and market participants. SET has transformed toward partnership platform by harnessing world-class technology and digital innovation to enable all parties to benefit from the Thai capital market in line with vision “To Make the Capital Market Work for Everyone”. A number of open architecture and interoperable platforms have been developed with aims at building ecosystem crucial for fundraising, wealth creation and the country’s development; widening business opportunities for operators in securities industry while offering investors convenient access to investment data, products and services.
KGiSL is a global IT Products, Solutions, and Services provider in the BFSI space. KGiSL offers Software Products, Solutions and Services, Intelligent Automation, ERP (SAP), CRM, Business Intelligence and Analytics, Quality Engineering, IT Infrastructure Management and Custom Application Development. KGiSL has offices in India, US, Malaysia, Singapore, Australia and Thailand.
KGiSL is part of the $750 million business conglomerate KG Group with interest in Textiles, Engineering, Healthcare, Education, Real Estate, Entertainment, Software and Business Support Services. The Group employs over 25000 people and is known for its philanthropic services to the community for over 8 decades.