Calsoft powers e-OSN.com, a trading portal

DQW News Bureau

California Software LTD announced that it has been chosen by the e-OSN.com, a consortium formed by Samsung Corp, Vitol, ITOCHU Corp, Sumitomo Corp, Marubeni Corp, Mitsui & Co Ltd, Mitubishi Corp, Nissho Iwai and Shell Japan Trading Ltd, for launching their trading web portal. The website was launched earlier this month in Singapore and active trading has started. Calsoft has also got the contract for maintaining the website.

According to Daigo Takeishi, CTO of e-OSN.com, "We wanted a full fledged exchange for Open Spec Naphtha products in 3 months. Calsoft came through for us with a fully functional exchange using their exchange engine."

This is the first on-line broking site enabling traders of "CFR Far East Open Spec Naphtha. It is an online exchange for trading Open Spec Naptha and MOPJ (Paper swaps). It provides real time electronic trading for the forward Naphtha contract, which has been accepted by the energy industry for the past 12 years."

This online exchange is powered by Calsoft's eBiz market Server using the eBiz exchange engine. The eBiz exchange engine aids in the posting of bids and offers with time validity; it also provides one to one screen negotiation features and allows trading of naptha derivatives customized to serve individual needs. The traders can post their financial exposure and hedging requirement.

The exchange is built to serve and provide various platforms for trades to be executed in a time sensitive fashion.

By implementing eBiz Market Server, e-OSN.com provides a more transparent and efficient way to trade whilst achieving reduction of transaction cost by more than 50% compared to existing brokerage.

California Software Ltd also announced that it recorded sales of Rs 15.60 crore during the half-year ended 30 September, 2000. The gross profit is Rs 278.41 lake, the net profit after depreciation and tax being Rs 233.62 lake. The net profit achieved during the half year is almost 75 percent more than that achieved during the full year during 1999-2000. The Earnings Per Share (EPS) comes to Rs 4.91, which is again more than the Rs 3.61 achieved during 1999-2000.

The company also announced that it had recently revamped its training facilities, which enabled it to substantially increase its initial intake of manpower. The Company which presently operates one Export Oriented Unit (EQU) with 3 software Development Centers have recently obtained approval from the Software technology Park of India for establishing one more EOU. The new EOU will operate from Tidel Park, Chennai, where a state-of-the-art Software Development Center has already been commissioned.