History : The Indian market has evolved rapidly over the past decade and increasing sophistication amongst players, regulators, customers, and exchanges has paved the way for market-wide adoption of latest technology and an increase in market depth, breadth, and efficiency. Recognizing the benefits of algorithmic trading, the Indian stock market regulator SEBI and NSE/BSE offered direct market access (DMA) in India in August 2008. The first algorithmic trading product was offered by Lehman Brothers on Aug 4, 2008. There was some skepticism initially; however, market participants saw the benefit of the improved infrastructure and the perceptions have significantly changed since then. NSE, BSE, MCX and MCX-SX provide co-located services and there are well over 100 brokers co-located with these exchanges.
|Q2 2008||»||Company set-up and team-building|
|Q3-Q4 2009||»||Development of algorithms and platform|
|Q1 2009||»||Received NSE membership approval|
|Q2 2009||»||Completed co-location with NSE and received Algo approval|
|Q3 2009||»||Estee I-Alpha PMS Fund launched|
|Q4 2010||»||Received BSE membership approval|
|Q1 2011||»||Completed co-location with BSE|
|Q3 2011||»||Launched institutional brokerage business|
|Q2 2012||»||Inter-exchange trading (NSE-BSE) commenced|
|Q3 2012||»||Received MCX membership approval and completed co-location|
|Q4 2012||»||FII Sub-Account (off-shore fund) Estee India Fund launched|
|Q1 2013||»||Received MCX-SX membership approval and completed co-location|
|Q2 2013||»||Launched ETF market making|
Received USE membership approval. Launched I-Stat, under managed account structure.