KGiSL Wins Common Infrastructure for Brokers Back Office Project from Stock Exchange of Thailand
KGiSL, a leading global provider of IT Products, Solutions and Services, announced today that it won the historic contract against stiff competition from The Stock Exchange of Thailand (SET), one of the most important stock exchanges in ASEAN. KGiSL will launch Dolphin, a cutting-edge technology back office (BO) platform that brokers in Thailand can use. Brokers will have access to the platform hosted by SET. It is expected that the implementation will be complete within 16 months.
KGiSL's flagship product, Dolphin for Capital Markets - caters to 60% Indian institutional brokers by supporting their back-office clearing operations and settlement operations. With its ability to manage multiple asset classes, including Equities and Bonds, the new platform will be the ultimate solution for Thai brokers. It can also handle Offshore Trading and other financial instruments, both for retail and institutional traders. The platform's next-generation technology platform was tested to handle 5 million trades per day and can scale vertically or horizontally to accommodate any increase in business volume. Dolphin was selected over other global platforms due to its better suitability and robustness, scalability and automation capabilities.
President of The Stock Exchange of Thailand, Dr. Pakorn Peetathawatchai."This is one our most challenging and ambitious projects. We want to create a common infrastructure that will allow Thai brokers to transform their back-office business models. We believe that the key ingredients for the success of this project are the continued support from participating broker in providing valuable insight and KGiSL's delivery capabilities.
Associating with SET Prassadh Shanmugam, Director & Chief Executive Officer KGiSL "This is a major win for KGiSL," he said. Dolphin is the market leader in India, although we have only had limited success in other markets. This order will open up ASEAN and APAC markets to similar success stories as we did in India. KGiSL plans to increase its investment in Dolphin's capabilities through Artificial Intelligence, Machine Learning (ML), Business Intelligence(BI) and Analytics. This is also an opportunity to thank Dr. Pakorn Peetathawatchai (President of The Stock Exchange of Thailand) and all of the management for their trust in KGiSL.