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KGiSL wins landmark contract from Stock Exchange of Thailand

KGiSL wins landmark contract from Stock Exchange of Thailand

APACBanking & FinanceIndiaSoftwareThailand

KGiSL will deploy its new flagship digital platform Dolphin for brokers in Thailand.

KGiSL, a global IT products, solutions and services provider, has announced the landmark contract it has won against significant competition from the Stock Exchange of Thailand (SET).

KGiSL will roll out 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.

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.”

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.

On the association with SET, Prassadh Shanmugam, Director and Chief Executive Officer, KGiSL, added: “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 and 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, Machine Learning, business intelligence 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.” The next generation technology platform has been tested for handling 5 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.”

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