Espírito Santo Securities India (ESS) implemented Algorithmic Trading Strategies from TCS BaNCS, enhancing trading efficiency while reducing latency and cost.
Espírito Santo Securities India Private Limited, is a subsidiary of Haitong Bank, S.A. (Haitong – erstwhile Banco Espirito Santo de Investimento, S.A.). Haitong is the second largest Investment Banking and Securities firm in Portugal with a strong presence in European markets, and expertise in the emerging markets such as Brazil, India, Poland, and Africa.
ESS was looking to add to its service offerings in a buyer’s market, having high supply (competition) with low differentiation. It became essential for ESS to differentiate itself from competition by offering its clients an optimum trade execution platform, coupled with low latency and cost. ESS, which has been using the Securities Trading and Processing modules from TCS BaNCS since 2012, decided to extend its partnership with TCS Financial Solutions by deploying the Algorithmic Trading component for their transformative initiative
The solution is a multi-asset, multi-market trading solution—it enables seamless integration of trading across markets, asset classes, and currencies. It also supports DMA, facilitating event-driven, low-latency and high-performance trading.
TCS BaNCS helped ESS accelerate business growth through increased trading effi¬ciency and control. Post implementation of the solution, algorithmic trading accounts for 85% of the total institutional executions at ESS. The integration of algorithmic trading, DMA and DSA capabilities enabled the company to handle higher trade volumes effi¬ciently, without needing to expand dealing and operation teams. ESS was able to respond in real-time to market shifts, minimize human involvement in execution, improve overall dealer accuracy, and generate greater inflow of orders.