Bangalore: Infosys Technologies Ltd announced on October 30 that it has built a new intra-day comparison system for equities (IDCE) for the American Stock Exchange (Amex), according to a press release.

The comparison system will be a core component of the Amex's technology platform and will be crucial for matching and settlement of the day's stock trades.

"IDCE is a great operational improvement for the Amex and our customers. The new system allows us to match trades during the day and transmit compared trades on a real time basis," said Ralph Rafaniello, executive vice president of Amex floor market operations.

The IDCE system, which provides a browser-based interface on the user's terminal, is used for matching trades, resolving uncompared trades and advisories, and for making corrections to trades and inputting new ones. It also supports special features such as movement of securities positions between firms. The system's user base consists of Amex member firms, equities brokers, specialists and market operations staff. It is currently being accessed through browser front-ends and via connectivity supported by IBM's MQ series by more than 100 securities trading firms across the US, including the premier Wall Street firms, the release said.

"We chose Infosys, a leading provider of consulting and Information Technology services, after reviewing its prior success with other mission-critical projects of similar size and importance," said Ravi Apte, executive vice president and chief technology officer at the Amex.

"We are extremely pleased with Infosys' efforts to get this system launched, and we plan to continue working with Infosys to maintain it. Their offshore capabilities proved essential to developing a critical new system for the American Stock Exchange."