In principle Approval Note-3 - TCS edited

Prod/SN/2019-20/ Dated: 25-Nov-2019
Need for revamp of SSL Trading management system

1. The current trading management system which is being used at SSL is developed
by Thomson Reuters (TR). It consists of
a. Order management system (OMS)
b. Risk management system (RMS)
c. New Mobile platform - SBISMART Money mobile app
d. Dealer terminal
e. Client terminal
f. Order management API’s powering trade system in SBISMART website and
old SBISMART mobile app.

SSL trading management system revamp is required due to the following reasons:

1. Scalability issue:
TR is market leader in retail broking segment in terms of serving number of
brokers. However considering individual broker’s customer base and dealer
network together; SSL is their biggest customer. It is recently observed that the tried
& tested solutions available with TR are not effective for the scale of SSL and new
solutions offered are of trial & error nature. E.g. TR certified the mobile solution for
the concurrency of 10K, however in actual production it started faltering at the
concurrency of 5K itself.

2. Stability issue :
Another flipside of this hit & miss kind of solution approach has resulted into
frequent downtimes and server errors during peak traffic time. Related discussions
and RCA received from TR team clearly indicates their experimental approach
towards SSL setup and cluelessness about further course of action. This is resulting
into huge business losses and putting reputation of SSL at stake.

3. Poor support because of change of guard:
Our original contract was with Omnesys technology. It was taken over first by
Thomson Reuters and subsequently by Refinitiv Technologies. This frequent change
of guard has resulted into a stage where we have a current contract with no SLA.
Also, Earlier defined TAT is seems to be null & void since they are hardly being
followed.

4. Unavailability of comprehensive product suite roadmap for products:
This ownership transition has also resulted into missing roadmap in terms of
product bouquet expansion for equity/Derv products. Moreover distribution

Prod/SN/2019-20/ Dated: 25-Nov-2019

products like MF, NCD, Bonds, IPO, autolien was never their forte and was not into
focus area from day one.

5. Slow paced project executions:
Top level uncertainty has already resulted into resource allocation impacting project
execution speed.

6. Exorbitant cost of customization :
It is obvious to say now that cost of customization is also huge. TR is also for lakhs
of rupees which we know that certainly not worth paying still have to approve to
bring in requirement feature enhancements.

7. High end IT Infra requirement:
It is observed that TR solution requires too much of IT hardware infrastructure in
caparison with similar solution offered by other vendors.

Proposed approach

In the proposed setup the prime focus is to manage the application through single vendor,
where the partner must provide comprehensive, robust, stable and scalable solution.

Accordingly, we have discussed and evaluated vendors serving bank brokers setup. After
a detailed evaluation of various service providers, we found that the solutions provided by
TCS are found to be in sync with our organisation aspirations due to the following;

1. Integrated Front office/back office (FO/BO) solution:
The OMS/RMS can be managed by TCS. Robust Backoffice is an added advantage.
Integrated FO/BO solution allows flow of data between front office and back office
on real time based.
This will help in real time account opening process even during market hours.
Also, at EoD we would seamless movement of transactions from front end trading
to back-office software which will be of less time consuming activity for trade
processing as per the rules set for validation

2. Proven Stable, robust and scalable platform :
TCS is renowned technology partner with stable OMS/RMS/BO platform and
proven past record as a comprehensive Technology solution provider already
managing big bank brokers like HDFC and Axis Securities. The platform OMS has
the ability to handle one million trades and also able to handle high mobile and
internet concurrency.

Prod/SN/2019-20/ Dated: 25-Nov-2019

3. Comprehensive product offerings:
As product offering solution TCS application enables with Multi-Asset Class such
as Equities/Derivatives/ Currency and even distribution products like Mutual
funds, NCD, Bonds, IPO, autolien as a part of their standard product offerings
making it one stop solution for all our needs.

4. Complete End-To-End Omnechannel platform solution with open APIs:
TCS offers end to end solution starting from front-end trading platforms for
Clients/Dealers/Branch/Call Centre. The client front end can be access across
digital channels like Internet based trading web platform/Mobile
App/Voice/Chatbot etc. State-of-the-art HTML 5.0 based web, mobile and tablet
trading applications enabling personalized user experience across multiple devices
and platforms.

5. Onsite production Support availability :
Based on our discussion with peer IT teams like Axis and HDFC Securities, it
appear like TCS has well defined SLA and immediate support mechanism to tackle
critical PROD issues on immediate basis. Also teams are well equipped with all
kind of tech expertise to manage high end traffic effectively.

Detailed Product suite comparison between TR and TCS

Attribute Availabl Comments if any Availabl Comments if any
e in TR e in TCS
Product system Capital Markets system
(Y/N) EQ (Y/N)

Prod/SN/2019-20/ Dated: 25-Nov-2019

(MIS)/Intraday Y Squareoff time : Y Squareoff time :
Current sqaureoff time Current sqaureoff time
3 PM : fresh order stopped 3 PM : fresh order stopped
3.05PM : RMS squareoff 3.15PM : RMS squareoff

CASH / Delivery Y Available as T+5 Y Based on the volume
NRML/Margin (T+2) Y Y squareoff timing can be
Cover order Y first leg is market/limit Y extended beyond 3.15PM
available
Availble as T+2
Bracket order & Trailing Y Not available based on Y first leg - only market is
stop loss - stoploss range available
N - first leg limit
Encash Y Available with vendor. No Y customisation is possible
Margin trading/E-margin enabled at SSL Y
available based on
- stoploss price
- stoploss range

- saparate daywise
position, combine position
as on T-1 is available
-in combine postion report :
T-1 and T day positions are
shown separately instead of
merging

Order type N N This is a customisation
Favorited order
Y Y - available for all products
Market y Y - trailing stoploss with book
Limit Y Y profit order is also available
Stop loss N Y
trailing stoploss - Available for Limit and
market orders.
Good till Cancel (GTC) / Y Available with vendor. No Y - Minimum order value
Good till date (GTD) /VTD enabled at SSL Y check is there

Smart Orders Y Available with vendor. No
enabled at SSL
- not Available for Limit
orders.

Prod/SN/2019-20/ Dated: 25-Nov-2019

AMO : Limit / Market Y - Available across asset N - Only AMO limit order is
classes. avaialble. AMO Market can
- AMO order limit be done.
validation at the time of - Derv/Curr AMO order not
placement is not available there, can be done.
- Start 4.30PM till 8.59AM.
Currently 9.15 but can be
done at 9AM
- AMO fund blocking
validation available at the
time of order placement

BSE AMO order pusing: 30
Sec for 5K
NSE AMO order pushing :
dependent of line
restriction

Basket order Y Available with vendor. Y
Enabled only for dealer
exchange Y
NSE : Y CM available Y CM available
BSE: CM available Y CM available

FO Y

Margin (MIS)/Intraday Y Y
Y - Available for futures and
NRML / Margin Y
Cover order Y options both as well as for
option writing
Bracket order & Trailing Y
stop loss - first leg only market is
available
- first leg limit
customisation is possible

Y available based on
- stoploss price
- stoploss range

Order type N N This is a customisation
Favorited order
Y Y
Market Y YY
Limit

Prod/SN/2019-20/ Dated: 25-Nov-2019

Stop loss Y YY - available for all products
trailing stoploss N Y - trailing stoploss with book
profit order is also available
Good till Cancel (GTC) / Y Available with vendor. No Y
Good till date (GTD) /VTD enabled at SSL Y - Only AMO limit order is
avaialble. AMO Market can
AMO : Limit / Market Y be done.
- Derv/Curr AMO order not
there, can be done.
- Start 4.30PM till 8.59AM.
Currently 9.15 but can be
done at 9AM
- AMO fund blocking
validation available at the
time of order placement

BSE AMO order pusing: 30
Sec for 5K
NSE AMO order pushing :
dependent of line
restriction

This is a customisation

Basket order Y Available with TR. Not Y only TWS. In roadmap for
Roll over N enabled as SSL. N ITS
Spread orders Y Y

exchange Y FO
NSE : N
BSE: FO, Currently a Roadmap
item.

Margin (MIS)/Intraday Y CD
NRML / Margin Y
Y How much margin charged
on Option buying-intraday?

Y

Prod/SN/2019-20/ Y Dated: 25-Nov-2019

Cover order Y - Available for futures and
options both as well as for
Bracket order & Trailing Y option writing
stop loss
- first leg only market is
available
- first leg limit
customisation is possible

Y available based on
- stoploss price
- stoploss range

Order type N N This is a customisation
Favorited order
Y Y - available for all products
Market Y YY - trailing stoploss with book
Limit Y YY profit order is also available
Stop loss N
trailing stoploss Y - Only AMO limit order is
avaialble. AMO Market can
Good till Cancel (GTC) / Y Available with vendor. No Y be done.
Good till date (GTD) /VTD enabled at SSL Y - Derv/Curr AMO order not
there, can be done.
AMO : Limit / Market Y - Start 4.30PM till 8.59AM.
Currently 9.15 but can be
done at 9AM
- AMO fund blocking
validation available at the
time of order placement

BSE AMO order pusing: 30
Sec for 5K
NSE AMO order pushing :
dependent of line
restriction.

This is customisation

Basket order Y Y
Roll over N N

Prod/SN/2019-20/ N Dated: 25-Nov-2019
Y only TWS. In roadmap for
Spread orders
ITS
exchange
NSE : Y CD
BSE: N CD

COM N Currently a Roadmap item.

Margin (MIS)/Intraday Y N Currently a Roadmap item.

NRML / Margin Y N Currently a Roadmap item.

Cover order Y N Currently a Roadmap item.

Bracket order & Trailing Y
stop loss

Order type N N Currently a Roadmap item.
Favorited order

Market Y N Currently a Roadmap item.

Limit Y Y N Currently a Roadmap item.

Stop loss Y Y N Currently a Roadmap item.

trailing stoploss N N Currently a Roadmap item.

Good till Cancel (GTC) / Y Available with vendor. No N Currently a Roadmap item.
Good till date (GTD) /VTD enabled at SSL N Currently a Roadmap item.

AMO : Limit / Market Y

Prod/SN/2019-20/ Y Dated: 25-Nov-2019
N N Currently a Roadmap item.
Basket order N N Currently a Roadmap item.
Roll over N Currently a Roadmap item.
Spread orders

exchange Y Bullion/Argo N Bullion/Agro
MCX : Y Bullion/Argo
Currently a Roadmap item.
NCDEX :
N Bullion/Agro

Currently a Roadmap item.

IPO (ASBA) / FPO Yes Other products Y handling of UPI will be a
customisation
SIP Yes IPO thru UPI is also
OFS Yes available with BSE API Y
Buyback No Y
ETF (primary / Secondary) No Primary is not available Y
secondary its available Y
Margin trading Yes Available with TR. At SSL it
is under implementation Y
phase
N Integration can be done
NPS No with third party tools

Pledge No N Integration can be done
with third party tools

SLBM No N Integration can be done
with third party tools

LAS No N Integration can be done
with third party tools

Prod/SN/2019-20/ No Dated: 25-Nov-2019
No
E-voting No N Integration can be done
Wealth products No with third party tools
Tax
Will N Integration can be done
with third party tools

N Integration can be done
with third party tools

N Integration can be done
with third party tools

Option strategy with No N This is a customisation
historical IV Yes
Option calculator Y
Yes
Features as per exchange scrip Y bond/ncd/etf admin
master saggregation or files for
stock search sagreggation
one single basket in which
Scrip basket creation A,Z Yes scrips are categorized and This is a customisation
category etc and then Yes hair cut calculated Y
assign margin
Order placement screen Y This is a customisation
customization is possible in
web not in exe

Streaming Yes Y Available only in watchlist,
place order, market depth
Squareoff logic Yes Yes - need in positions
- should be across platform
Fungible limit across Yes Yes This is a customisation
segments and products Yes
NRI Yes Yes CBS integration
No Instant update of limits
Auto lien

Prod/SN/2019-20/ Dated: 25-Nov-2019

Portfolio tracker No Yes Not real-time (It’s a query

portfolio transactions No based)

This is a customisation

Yes

inclusive of charges at trade

level apportionment

advanced Charting tool Yes NO TCS has their own. Not
Y done integration with
real time margin calculator / No Charting tool. Open to
qty calculator integrate charting library

Integration can be done
with third party tools

This is a customisation

Payment gatways No Y ATOM/billdesk etc, SBI

bank direct api integration,
UPI,
Instant update of limits

The application is without
admin. Custumisation can
be done.

Platforms Yes N under testing
Open apis N currently xml/json api
combination
web (fully responsive No Currently a Roadmap item.
across tablets, mobile,
ipads) Hyperpersonalised
individual user journeys and
exchange empanelled APP Yes Finger Print & MPIN is not Yes advanced search algos like
customized only for SSL available google to display results
MPIN/fringerprint from website content /
features / market data for
Dealer / Client exe Yes Yes user queries

Lite No y Currently a Roadmap item
One apk/ipa fully functional
across tablets/mobiles,
ipads/iphone
cordova based hybrid app.
Finger Print & MPIN is not
available
This is a customisation

32 bit, 64 bit.

- Macbook version not
available

inclusive of all product

Lite version is available

Prod/SN/2019-20/ No Dated: 25-Nov-2019

Smartwatch app Y apple watch/samsung

Research call upload and No watch
performance tracking Yes Apple watch is up and
running
SSO and standard third
party integrations N

Dealer advisory module No Y Authorisation and
CRM integration No Authentication is present.
Session managent need to
advanced Google Analytics Yes Mobile App be managed at the SSO
iintegration Yes level

Google firebased N This is a customisation
integration for notifications N Integration can be done
in the app and browser
with third party tools
Admin module No
N This is a customisation
Risk (product standpoint) N This is a customisation

Admin Platform to monitor Yes Y The current ADMIN displays
Real-time Positions & Limits Master data,
Configurations, Reports and
defines batch processes.

Y RMS user can view and
monitor positions across
clients and products

Prod/SN/2019-20/ Dated: 25-Nov-2019

Monitoring of MTM across Yes Y RMS user can view and
Segments & Products monitor positions across
clients and products
Product & Segment Level Yes
Maker checker Yes N This is a customisation
N RMS user have to select the
Auto Square off option
orders and confirm the
Position Alert Client wise & Yes Square off orders.
Scrip Wise
Y Scrip Level Alerts if required
Custom Product creation Yes will be an customisation.
option Yes
N This is a customisation
Messaging to Dealers & N Can be done on specific
Clients on MTM
conditions
BO (product standpoint)
Y Application can integrate
Real time user creation / Yes with Third party application
modification using API for Client creation.
integration
Y This is currently available.
API integrations for BO/FO Yes
communication instead of Y Data migration can be
manual intervetion using file done. File formats will be
uploads provided.

Migration of Current client NA Y
details Y
N Not in current Roadmap
Client Profile handling Yes
NA
UCC Upload process
across segments yes

Dual Mapping

Prod/SN/2019-20/ Dated: 25-Nov-2019

Trading Tools Yes N Currently a Roadmap item.
No
Option Calculator Y All the logins are stored and
Option Strategy logs are generated

Logs of Yes Y This is a customisation
Login/Orders/Trades - N This is a customisation
Client/Dealer/ADMIN

IVR Integration with CNT No
desk Yes

Span Calculator

Ditribution products

Products Mutual Funds

Lumpsum Yes Y Available on Distribution
Redeem Yes Platform
Additional Purchase Yes
Switch No Y Available on Distribution
ELSS Yes Platform
ETF Yes
SIP Yes Y Available on Distribution
SWP No Platform
STP No
NFO Yes Y Available on Distribution
Platform
Order Type
Y Available on Distribution
Platform

Y Available on Distribution
Platform

Y Available on Distribution
Platform

Y Available on Distribution
Platform

N This is a customisation

Y Available on Distribution
Platform

Prod/SN/2019-20/ Yes Dated: 25-Nov-2019
MFI
Y Normal Interface with BSE
MFD Yes Star and NSE MFSS (Demat
Mode)
Features No
No Y RTA - In Physical Mode
NACH Mandate Yes
iSIP N This is a customisation
SIP Due alerts
N This is a customisation
Goal Based investments No
Risk Profiling No Y Email and SMS alerts are
Bulk Order No generated prior to SIP

Portfolio Holdings No N
N
Fixed Income N This is a customisation

Tax Free Bonds Yes Y

Y This can be handled using
IPO Module. However if
additional data points are
required customisation will
be required.

54 EC Yes Y This can be handled using
IPO Module. However if
additional data points are
required customisation will
be required.

Prod/SN/2019-20/ Yes Dated: 25-Nov-2019
NCD
Y This can be handled using
SGB Yes IPO Module. However if
additional data points are
Zero Coupon Bonds No required customisation will
be required.
GSEC/T-bills No
Y This can be handled using
IPO Module. However if
additional data points are
required customisation will
be required.

Y This can be handled using
IPO Module. However if
additional data points are
required customisation will
be required.

Y This can be handled using
IPO Module. However if
additional data points are
required customisation will
be required.

Prod/SN/2019-20/ Yes Dated: 25-Nov-2019
Corporate Bonds
Y This can be handled using
Convertible Bonds No IPO Module. However if
additional data points are
Corporate FD No required customisation will
be required.

Y This can be handled using
IPO Module. However if
additional data points are
required customisation will
be required.

Y This can be handled using
IPO Module. However if
additional data points are
required customisation will
be required.

Life Insurance
General No N Integration can be done

Corporate with third party tools

No N Integration can be done
with third party tools

NPS
No N Integration can be done

with third party tools

Prod/SN/2019-20/ No Dated: 25-Nov-2019
Individual
N Integration can be done
with third party tools

Platforms No N
No
Advisory module No Y
Dealer Module
S&D admin Modules Y MF

Fixed income
NPS
Payables
Receivables

TCS Pros & Cons Product

Pros Cons
Distribution products like Mutual fund, Commodity trading not available
IPO(ASBA), Bonds, FD availability S&D advisory module not available
Capital markets tested products/features
like trailing stoploss, Margin trading, Open API are under testing
buyback, GTC order, AMO order validation AMO available only in EQ segment
Comprehensive portfolio tracker Advanced charting tool is not available
Bank CBS integration and Auto lien for fund Streaming not available across ITS platform
transfer
Real time margin calculator before order
placement