Exchanges, clearing and trading platforms

Exchanges, clearing and settlement 6 companies

An exchange matches buyers and sellers. After the trade, clearing and settlement make sure the money and the shares change hands.

The Depository Trust & Clearing Corp (DTCC)DTCC, with engineers in Hyderabad and Chennai, clears and settles almost every share and bond trade in the United States.Hyderabad · ChennaiHiring now

CME GroupCME Group, with engineers in Bengaluru, runs the world's largest exchange for futures and options, and its clearing house.Bengaluru

ICEICE, with engineers in Hyderabad, owns the New York Stock Exchange and futures exchanges and clearing houses around the world.Pune · HyderabadHired recently

BroadridgeBroadridge processes the trades of banks and brokers after they are made, and runs the voting at shareholder meetings.Mumbai

TradewebTradeweb, with engineers in Bengaluru, runs electronic marketplaces where institutions trade bonds with each other.

KGiSLKGiSL, a Coimbatore company with engineers in Bengaluru, sells settlement and back-office software to brokers in Asia.

The tech, explainedMatching engine Clearing and settlement Post-trade processing Electronic bond trading

Trading software 6 companies

Brokers and trading firms use these screens and systems to place orders, manage risk and split large orders into many small ones.

Genesis GlobalGenesis Global, with engineers in Bengaluru, sells a platform on which banks build their own trading applications with little code.BengaluruHiring now

BestEx ResearchBestEx Research, with engineers in Bengaluru, sells algorithms that split a large order into many small ones to get a better price.BengaluruHiring now

Tradelab TechnologiesTradelab, with engineers in Bengaluru, builds the order, risk and trading systems behind many Indian brokers' apps.

Trading TechnologiesTrading Technologies, with engineers in Pune, sells the professional futures trading screen used by banks and trading firms.

Quantitative BrokersQuantitative Brokers sells algorithms that place large futures and bond orders at the best price.

Equiti GroupEquiti, with engineers in Bengaluru, is a broker in the Middle East, Africa and Britain, with its own trading platform.

The tech, explainedAlgorithmic trading Trading platform for institutions Order management system (OMS) for brokers

Private company records and valuations 3 companies

Shares in private companies are not traded on an exchange, so investors need other ways to value them and record who owns what.

73 Strings73 Strings, with engineers in Bengaluru, values the private companies and loans that private-equity and private-credit funds hold.Bengaluru

EqvistaEqvista, with engineers in Delhi NCR and Mumbai, keeps start-ups' records of who owns what share of the company.

CapeZeroCapeZero, with engineers in Bengaluru, sells software for financing American clean-energy projects.See alsoEnergy market analytics and trading software

The tech, explainedCap table management↗ Asset management Private market data↗ Asset management

How it all worksStock trading and settlementMatched, cleared and settled by the next day.

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What's changing

Settlement is moving from a day to an instant.

India now settles share trades the next day, and has started same-day settlement. Exchanges and clearing houses are rebuilding their systems so that money and shares could change hands as the trade happens.