Power Exchange India Limited (PXIL) is India’s first institutionally promoted Power Exchange that provides innovative and credible solutions to transform the Indian Power Markets. PXIL is promoted by National Stock Exchange of India Limited (NSE) and National Commodity & Derivatives Exchange India Limited (NCDEX). PXIL enables efficient and cost-effective solutions for seamless power trading on its exchange. The company provides a fully-integrated computerised platform and a user friendly interface that allows buying and selling at the click of a mouse. PXIL also provides robust clearing and settlement systems and better price discovery through anonymous auctions to a large number of suppliers and buyers of electricity.
Managed hosting service from Netmagic Solutions enables Power Exchange India Limited (PXIL) to provide enhanced trading experience to its members.
By partnering with Netmagic for their managed hosting requirements, PXIL has not only reduced costs but has also improved services by providing a highly available trading application to its customers.
When PXIL started its operation in 2008, the company wanted to provide an enhanced trading experience to its customers. But to do this, PXIL needed scalable, highly available, dynamic and robust IT infrastructure and flexible bandwidth. The company knew that the building of IT infrastructure from scratch along with hiring of skilled resources to manage it would require capital and time. Hence PXIL decided to host its trading business application with a managed IT hosting service provider.
PXIL opted for Netmagic’s managed hosting services to provide an enhanced trading experience to its customers.
IDC & Managed Hosting: Leased line circuit, Base DNS service, Colocation, Redundant path service
"For the last four years we have hosted our core business applications with Netmagic. Netmagic has ensured highly available, scalable and dynamic IT infrastructure that delivers a high quality trading experience to our customers. This partnership with Netmagic has enabled us to manage costs associated with building IT infrastructure internally and we do not have to worry about power supply and operations management. The engagement and involvement of the Netmagic team in understanding our requirement is good and has helped us a lot," says Chandrashekhar Bhat, Vice President - IT at Power Exchange India Limited.
Highly secure, available and carrier neutral IT infrastructure with continuous and maximum uptime for online trading ensured an enhanced trading experience for PXIL’s customers
Faster turnaround time for any member to go live without compromising on security and speed of transaction
Significant cost benefits as a result of low capital investments on IT infrastructure and hiring of resources to manage the same
Improved performance levels as a result of 24x7x365 end-to-end network management and monitoring
Enhanced performance levels as a result of burstable bandwidth availability
To enable its customers to have an efficient and a seamless trading experience on the exchange, Power Exchange India Limited (PXIL) provides a fully-integrated computerised platform and a user friendly interface that allows buying and selling at the click of a mouse. As a large number of participants trade on the exchange, the company also provides robust risk management and clearing and settlement systems. This application is available to its users through the internet.
All traders trading on the exchange use this application to trade and hence it was crucial that the application be highly available with zero downtime to ensure seamless interaction between PXIL’s members and traders. PXIL realised that it needed scalable, dynamic and highly available IT infrastructure to host this application. However, the company wanted its IT team to focus on enabling business rather than manage and monitor the IT infrastructure. Moreover, setting up and managing IT infrastructure to host the application internally would have required huge capital outlay both in terms of infrastructure and personnel to manage the same. Hence the company decided to look for a managed IT hosting service provider who could assure maximum uptime, flexible bandwidth and dynamic IT infrastructure for their trading exchange application.
PXIL evaluated its options and chose Netmagic Solutions to host its trading exchange application. The decision to choose Netmagic was based on its state-of-the-art carrier neutral datacenter, the company’s ability to understand PXIL’s need perfectly and come up with the right solution, quick response and turnaround time, adaptability to suit business requirements and scalability of the solution offered.
"Our indigenously built trading exchange application needs to be up all the time to allow access to all members and clients to transact seamlessly on the exchange i.e., place bids and orders. We evaluated many service providers and found Netmagic to be the best among all of them. Netmagic understood and fulfilled all our requirements on time," says Chandrashekhar Bhat, Vice President - IT at Power Exchange India Limited.
PXIL has been able to derive significant cost efficiencies and provide an enhanced trading experience to its customers by partnering with Netmagic Solutions. Netmagic ensures continuous uptime for PXIL’s trading exchange application allowing PXIL’s members and traders to interact and trade seamlessly. The company’s IT team can focus on more strategic issues related to growth and expansion.
Says Chandrashekhar Bhat, Vice President - IT at Power Exchange India Limited; "We have a very good relationship with Netmagic. Their turnaround time has been as per the SLA. The company has an excellent team that understands our requirement and is able to immediately address any issues that occur. Currently we have availed of hosting and monitoring services for our core application from Netmagic, however, in future we plan to partner with them for other services as well."