As the largest retail stock brokerage franchise in India, ICICI Securities Ltd—which includes the retail equity booking part of ICICI Bank—set out to build an online trading platform for booking. Stock trading at ICICI securities had grown in terms of daily turnover at a CAGR of 114 percent in the space of four years. Establishing an online presence to support this growth just made sense.
“We started building the online trading capabilities for booking using Tuxedo,” says Yagnesh Parikh, Senior VP and IT head at ICICI Securities, who was given responsibility for the trading platform.
Marketed by Oracle (earlier BEA), Tuxedo is a middleware platform used to manage distributed transaction processing in distributed computing environments.
“We wanted to establish real-time operations running an extremely high number of transactions,” Parikh says. “Our challenge was getting Tuxedo talking to our settlement module.”
While Tuxedo ran AIX UNIX platform connecting Oracle, also on an AIX UNIX platform, the accounting module used Microsoft SQL Server database on Windows Server as its backoffice.
“The Windows platform provides several ODBC connectors,” says Parikh. “But nothing provided connectivity from UNIX applications to SQL Server.”