National Stock Exchange Utilizes Qlik For Managing Compliance Monitoring Over Regulated Entities
Qlik® announced that National Stock Exchange of India Ltd. (NSE), based in Mumbai, is utilizing Qlik to support and augment its regulatory capabilities. Qlik supports multiple teams within NSE to drive efficiencies and provide insights for facilitating data-informed decisions.
NSE plays a critical role in the Indian financial market’s ecosystem. In addition to providing a trading platform with cutting edge technology, clearing and settlement services, indices, and a market data feed, it is a front-line regulator and has a pivotal role in compliance monitoring for about 1,100 trading members and 2,000 listed companies.
Apart from running the vital capital market infrastructure of the country, NSE as an exchange has been entrusted with the key responsibility of regulating trading members and listed companies, for which NSE has put in place by-laws, rules and regulations relating to member registration, securities listing and compliance, market surveillance and investigation, inspection and enforcement as well as investor services.
NSE uses Qlik’s analytics to integrate data inputs from numerous databases, including trading data, clearing and settlement data, reporting by members, risk management services and client data. The Qlik Associative Engine allows for associations to be made from multiple datasets, enabling NSE to generate insights from all their data collectively and run comprehensive reporting for regulatory purposes. These associative insights built into their dashboards help the team to quickly be alerted on risk areas so they can take informed decisions.
“Data utilization is very important for NSE. We wanted to be able to have a single view of our data and be able to analyze it very intuitively,” said Dr Dinesh Kumar Soni, Senior Vice President, Regulatory Group at NSE. “With Qlik, we have been able to integrate our data on a single platform, reduce the time taken for reporting and quickly identify risk areas. The technology supports our teams so that they can concentrate on the actions they need to take rather than spending time putting data together and generating reports.”
With Qlik, NSE has significantly reduced the time needed to integrate and load data. Manual tasks have been greatly reduced and tasks that used to take 3-6 hours can now be completed within 30 minutes. This has aided the regulatory teams of NSE in driving better efficiencies by facilitating data analysis and improved decision-making capabilities. Qlik has also empowered non-technical NSE team members to create and use their own reports with no-code solutions and natural language processing.
“Qlik enables the team to process large volume of data from multiple sources swiftly. The best part of implementing the Qlik platform is seeing how users can interact with data using dynamic visualizations. We can look at the data from a bird’s eye view or single data points with a few simple clicks. This empowers our teams to draw meaningful inferences and make smarter decisions,” added Dr Soni.
“We are delighted to help the National Stock Exchange of India implement Qlik to manage regulatory compliance proficiently. Qlik is known for its ability to bring data together in large complex environments, and customers like NSE are testament to the strength of our platform in bringing data together and being able to utilize it for fine-tuning decisions and business processes,” said Varun Babbar, Managing Director, India, Qlik.
About National Stock Exchange of India Limited (NSE)
The National Stock Exchange of India (NSE) is the world’s largest derivatives exchange by trading volume (contracts) as per the statistics maintained by the Futures Industry Association (FIA) for the calendar year 2021. NSE is ranked 4th in the world in the cash equities by the number of trades as per the statistics maintained by the World Federation of Exchanges (WFE) for the calendar year 2021. NSE was the first exchange in India to implement electronic or screen-based trading. It began operations in 1994 and has been ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995, based on SEBI data. NSE has a fully integrated business model comprising exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions and financial education offerings. NSE also oversees compliance by trading, clearing members and listed companies with the rules and regulations of SEBI and the exchange. NSE is a pioneer in technology and ensures the reliability and performance of its systems through a culture of innovation and investment in technology. For more information, please visit www.nseindia.com.
Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private SaaS company, Qlik offers an end-to-end cloud platform that delivers real-time data integration and analytics solutions to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.