Polaris Software Lab, a software provider based in Chennai, India, said Friday it has acquired IndigoTX, a Software as a Service (SaaS) company also based in Chennai that provides GO TX, an enterprise brokerage solution for the securities market that operates on a pay-per-use model.

The GO TX System offers brokers a single platform that provides trading in multiple instruments such as equities, derivatives, mutual funds, commodities and currencies, offering access to multiple markets besides integrating the front, middle and back-office functions. ”The GO TX layered architecture also allows it to integrate internet access, desktops and other user access devices into a single platform,” Polaris said in a release.

A GO TX brokerage customer pays the company on a pay per use model. Under this model, the company provides access to its solutions and technologies by pricing it on a usage basis.

GO TX provides continuous updates of its software to its customers, the release said. “This helps brokerages to focus on their business rather than worry and manage technologies that are constantly changing and evolving. This also relieves the brokerage firms from the pressure of continuous capital investments.”

For large brokerage firms, the GO TX value proposition is that it provides operational efficiency as a result of its single integrated platform, Polaris said: “The integration allows brokerage firms control over their large span of business operations in real time. CEOs of brokerage firms can get a comprehensive view of their trading assets and liabilities. Brokerage firms will have a better control of their operations on a volatile day deploying the GO TX platform.”

For smaller brokers, the GO TX value proposition is accessibility to technologies that typically only large players can afford.

“With proven technologies in place, we needed a partner who can fuel our growth and also provide access to various global markets,” said Chandra Balaraman, founder & CEO of GO TX. “We are excited to join the Polaris family that has a large reach and reputation as a cutting edge solution provider to large financial institutions."

"Technology investments continue to be the major bottleneck for many brokerage houses that are nurturing big growth ambitions,” said Arun Jain, founder, chairman & CEO of Polaris Software. “GO TX leverages Software as a Service to offer trade-based pricing. In effect, brokerage houses can move away from technology related concerns completely and enjoy the freedom of "pay as you grow."

This article can also be founf at SecuritiesIndustry.com.

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