“We did not want to deal with any technical headaches. In addition, we plan to roll out new services like futures trading, currency deliverables and mobile trading. That is why we decided to go in for a reliable hosting partner-Netmagic,” Mr Phani, Head of IT Zen Securities Zen Securities Online Trading goes live with Netmagic Netmagic’s Netmagic’s hosting and managed services has enabled Zen Securities to seamlessly shift to online trading quickly Zen Securities - At a glance Hyderabad based Zen Securities Limited (ZSL) is one of the leading financial services companies - providing Financial and Investment related Services and Products. The Company commenced as a proprietary concern of M/s K. Ravindra Babu in 1986 was converted to a Limited company in February 1995 as Zen Securities Ltd. Zen has the distinction of being the First Corporate Member from Hyderabad and also the first A.P. based broking firm to start trading on the National Stock Exchange (NSE). ZEN is a registered Member on the Capital Market Segment and Futures & Options segment of both NSE and BSE. The company has around 47,000 customers all over India. Some of the services offered by ZSL include Investment advisory services; trading in cash market of NSE and BSE; trading in Futures and options on NSE and BSE; Internet Trading in Stocks, futures and Options both in NSE and BSE; Trading in Commodities on MCX and NCDEX and portfolio Management Services. Requirements and Challenges Until early 2008, Zen Securities operated through its various branch offices in Andhra Pradesh, Maharashtra, Karnataka and West Bengal. When customers began to demand online trading facility, ZSL decided to start this initiative in June 2008. But before launching the service, the technology foundation had to be laid. The existing financial software application did not support online trading. So, ZSL considered alternative vendors and homed in on GoTech, a financial service offering from Indigo Technologies. They also had to weigh in a more important factor. Sustaining high volumes of trading on the website meant that a high availability environment with state-of-the-art infrastructure and bandwidth connectivity had to be in place. But the company did not have a dedicated IT team of its own. So the company management decided to go live with the help of Netmagic’s hosted data centers. An IT team headed by Mr Phani was set up in May 2008 which oversaw the seamless migration to the new infrastructure and financial software. There were also other compelling reasons why it made good business sense to engage a technology hosting partner. • ZSL’s connectivity servers are connected to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The required bandwidth would be high and could not be monitored on a 24X7 basis • Online trading brings in regulatory and compliance issues such as maintaining back-ups of all trading data for three years. The company could not have met these mandates on time but with a hosting provider. • ZSL’s internal IT team could focus on building its own back office application The role of Netmagic ZSL signed on Netmagic for dedicated hosting of its nine servers at Netmagic’s data center in May 2008. Netmagic solutions for Zen Securities • • • • • Server hosting and firewall protection Oracle database administration services Setting up of platform and purchase of licenses Back up and guaranteed uptime Bandwidth and 24X7 connectivity Tech- Partnership pays rich dividends TechTrading volumes have increased rapidly since the online trading roll-out in June 2008. The company today handles around Rs 130 crore worth turnover a day. The bandwidth connectivity problem with the NSE was successfully resolved by Netmagic. Similarly, whenever BSNL customers connected to the ZSL site, the access was slow, but Netmagic solved the issue through alternate routing. Business advantages • • Cost effective IT set-up with low capital expenditure Major cost saved on hiring of in-house Database administration expert. Netmagic provides its expertise in this area • Cost savings on new ILD licenses since connections are automated to hosted data center • High bandwidth connectivity guarantees up-time and fast response times to deal with any issue “Engaging with Netmagic was a good springboard to go forward with our company plans. A lot of technical issues were solved with their help. Their service level is good service and they have delivered beyond our expectations. We will continue to partner with them to launch our future initiative.” Mr Phani, Head of IT, ZSL About Netmagic Netmagic Solutions is India’s leading Managed IT Service Provider, specializing in Internet Data Centers, Managed Hosting, Infrastructure Management Services, Application Services and Availability Services. Netmagic Solutions is ISO 27001 (formerly BS7799-2) certified and our processes are designed as per ITIL framework. Combining world class internet data centers with advanced technology and professional service capabilities, Netmagic Solutions delivers mission critical hosted applications for over 700 of world’s best known enterprises from multiple locations to their customers in a secure and seamless manner. Netmagic has multiple carrier-neutral Data Centers located in Mumbai, Bangalore and a virtual data center in the United States. These are equipped with best-in-class infrastructure, world-class services, tools and skilled personnel giving our customers the option to host their applications in any of these centers. Netmagic assures mission critical support to its customers in association with its ecosystem of channel and alliance partners.