Lehman Brothers, the global investment bank, has extended algorithmic trading for shares traded on the National Stock Exchange, India, through its LMX Trading Strategies, further enhancing the efficiency of its equity trading platform.
Lehman Brothers executed the first algorithmic order on 4 August through the new Direct Market Access (DMA) offered by the NSE.
“This is a very exciting step for our firm and it illustrates our strong commitment to building a market leading platform across the Asia-Pacific region,” says John Adair, head of Equity Liquid Market Sales, Asia-Pacific, Lehman Brothers.
This latest offering reflects Lehman Brothers’ commitment to India’s equity market, where the Firm offers a full range of services, including cash and volatility trading, top ranked prime brokerage services, equity research and an electronic trading platform.
“Recent regulatory changes have for the first time made this product possible in India,” says Pankaj Vaish, head of Capital Markets, India. “We can now bring Lehman Brothers’ best-in-class electronic brokerage offering to one of the fastest-growing markets in the world.”
Lehman Brothers’ LMX Trading Strategies have been enhanced to manage all the risk validations and controls to ensure full compliance with the new SEBI and NSE regulations introduced for DMA trading in April this year.