Kuala Lumpur, Aug 18: KGiSL, a global IT Products, Solutions, and Services provider, has announced a 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 which will be hosted by SET and will be made available to brokers.
“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 to the project’s success,” Dr. Pakorn Peetathawatchai, President, The Stock Exchange of Thailand said in a statement.
The implementation is expected to be completed in the next 16 months.
KGiSL’s flagship product for Capital Markets – Dolphin, caters to 60 percent 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 five million trades a 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.
“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,” the association with SET, Prassadh Shanmugam, Director & Chief Executive Officer KGiSL said,
“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.”
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