The Securities and Exchange Board of India, the regulator for the securities market, has shortlisted seven tech firms to bolster its analytics capabilities, build a storage cloud and automate the inspection of brokers. According to a leading newswire, the seven firms are Wipro, L&T Infotech, Accenture, Capgemini, Hewlett Packard, EIT Services India and Tharavu Technologies.
Earlier this year in August, SEBI had invited expression of interests from organisations to enhance their analytical capabilities. The EoI also included a call for setting up a private cloud and keeping computing and storage capacity ready for different projects. At the time they were looking to put in place new and advanced software tools to help in its monitoring of mutual funds and for sharing of information with other regulators.
“It will also involve software development activities for the analytics projects such as (but not limited to) monitoring of mutual funds and automation of inspection of brokers,” a SEBI spokesperson told the newswire.
The SEBI hopes that the private cloud will ensure hassle-free operation and quick recovery during disturbing events. The selected company will be responsible for designing implementing and supporting a big data solution with analytical capabilities.