Technology major IBM on Wednesday said it has inked a 10-year IT services agreement with Delhi Stock Exchange (DSE) worth Rs 11 crore for managing its IT infrastructure.
As part of this Rs 11 crore agreement, IBM will provide business continuity and disaster recovery services to DSE as well as remotely host and manage its IT infrastructure, IBM said in a statement.
This will help the exchange meet the stringent business continuity guidelines as laid out by Securities and Exchange Board of India (SEBI) before it can resume its operations after a hiatus of six years, it added.
DSE is scheduled to restart its operations in the next few months.
By engaging with IBM in a complete operational expenditure (pay-as-you-go) model, DSE will also save 100 per cent capital expenditure on IT, it said.
DSE is one of country's largest stock exchanges, in existence for over 60 years. In 2002, however, the exchange became inactive due to negligible trading volumes.
The exchange is now looking at resurrecting itself and IBM will play a key role in helping DSE go live for trading by providing a highly secure environment and resiliency solution with the goal of zero data loss once the exchange becomes operational later this year, IBM said.