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ODIN Vs NSE NOW Trading Platform Comparison

Compare Trading Platform ODIN and NSE NOW. Find similarities and differences between ODIN and NSE NOW Trading Softwares. Find the most powerful trading platform. Find which trading software is better among ODIN and NSE NOW.

ODIN Vs NSE NOW

  ODIN NSE NOW
ODIN Logo NSE NOW Logo
About Trading Platform

63 moons is a financial service company offering its services in the area including Exchange Technology Solutions, Brokerage Technology Solutions, and Risk Solutions. Company's flagship product ODIN is among the leading trading platforms in India. ODIN offers end-to-end online trading solutions to brokers in India.

ODIN Trader Work Station is an integrated Dealer trading application, with real-time exchange broadcast, Order Management, Trading reports along with various Decision support and Alert generating tools inbuilt to aid the dealers in making an informed decision at the time of transactions.

The uses of its software have declined sharply after the company chairman was jailed because of the fraud transactions at NSEL 2013. ODIN is still used by many top financial service providers in India and across the world.

NOW (NEAT on Web) is the flagship online trading platform offered by National Stock Exchange (NSE). NOW is a shared platform which is offered to the customer of many brokers. NSE exchange runs on a fully automated trading system named NEAT (National Exchange for Automated Trading).

Platform Owner 63 moons technologies limited National Stock Exchange of India Ltd.
Trading Segments Offered NSE, BSE, NSE FNO, Currency, MCX and NCDEX Commodity Equities, Currency and Derivatives
Products Offered CNC, MIS, NRML, BTST, BO, CO, BTST, MTF MIS, CNC, NRML
Order Type Offered RL, SL, ST, AON, MF, MIT Limit Orders, Market Orders, Stop Loss Orders, After Market Order and Cover Orders
Supported Exchanges BSE, NSE, MCX, NCDEX NSE, BSE, MCX
Brokers using this platform
Order Management System (OMS) ODIN OMS NEAT by NSE
Risk Management System (RMA) ODIN RMS NEAT by NSE
Trading Platform Enquiry Open Account Open Account

ODIN Vs NSE NOW Review

  ODIN NSE NOW
Highlights

ODIN trading software is used by over 1000+ brokers / financial institutes in India. It is a stable, fast and a powerful trading platform for trading at BSE, NSE, and MCX. Here are a few key highlights of the ODIN Diet:

  • ODIN is the oldest and most used trading platform. It had over 75% market share in 2015.
  • ODIN provides end-to-end solutions for Brokers. It includes Front Office, Middle Office, Back Office Clearing, Settlement, Accounting, and Messaging Solutions.
  • The company offers Managed Service for ODIN. This means they take care of hardware, software, exchange connectivity, client connectivity, backups and disaster recovery on behalf of the broker.
  • ODIN has integrated OMS and RMS.
  • Offer API to brokers. The brokers can develop their own front-end applications using these APIs.
  • ODIN Diet trading terminal is the strongest offering by the company. This market dominance product is the best tool available for trading for frequent traders and dealer desks for over 2 decades. 

ODIN had a monopoly in the trading solutions business until 2013. The growth of the product stalled after the owner got caught in 2013 fraud at NSEL. The company's fate is in limbo as the prosecutors are trying to recover over Rs 5000 Cr.

  • NOW is build and maintained by NSE.
  • The servers are co-located in NSE datacenters which makes it fast.
  • The RMS and OMS are the inbuilt part of NOW.
  • Available for free of charge to brokers who are the member of NSE.
  • NOW have 3 versions - installable trading terminal, trading website, and mobile trading app.
  • NOW mobile app is available for Android as well as iOS phones.
Features

ODIN Diet is a comprehensive trading tool. It offers to trade in equity, currency, and commodity, all under one screen and with one login. You can trade at BSE, NSE, MCX, and NCDEX.

ODIN Diet is built for frequent trader and for dealers who place orders on behalf of customers. Other than the standard trading features, here are some of the key features of the ODIN Trading Platform:

  • ODIN offers online trading through it's desktop, web and mobile trading apps.
  • ODIN Trading Terminal (ODIN Diet) is the most powerful and popular trading terminal for the desktop.
  • ODIN offers access to all asset classes at multiple exchanges.
  • ODIN has an integrated OMS and RMS which makes it fast, stable and reliable.
  • It has integrated DP and back office.
  • ODIN is also offered as managed services. This means the broker doesn't have to bother about maintaining the trading platform. This results in far less downtime.
  • Plug-ins are available for advanced users.
  • 3rd party plug-ins can be installed on ODIN. This feature is not available on other trading platforms.
  • It supports multiple market depth windows
  • It allows the user to create custom indicators that are now possible in NSE NOW and Omnesys NEST.

NOW offers a wide range of functions which are critical for trading in the stock market. NOW Website and the Mobile app is designed for casual stock market investors. The trading terminal the powerful trading software for frequent traders. Here are some of the key features of NOW Trading Platform:

  • Online trading through desktop, web and mobile app.
  • Trade at multiple exchanges and across multiple trading segments.
  • In-build OMS and RMS makes it faster.
  • NOW trading platform is maintained by NSE. No installation is needed on broker side. No security issues on the broker side.
  • A wide range of shortcut keys are available for frequent traders.
  • Live quotes, stock analysis, historical data, reports etc are available.
  • Custom stock alerts/notifications can be set up.
  • Additional plug-ins are provided by NSE for specific needs.
Advantages
  • Robust and stable trading platform. Trusted by over 800 brokers for 20 years.
  • Advanced charts and advance order types are available.
  • Allow customers to create custom indicators.
  • Available for free for trading at NSE.
  • Fast execution of orders. The servers are co-located with NSE Exchange.
  • Trade at BSE, NSE, MCX, and NCDEX across all segments.
Disadvantages
  • The parent company is in trouble because of the fraud at NSEL.
  • This trading platform is not offered by any discount broker.
  • Features like Back-Testing, Semi Algo Trading, Bracket Orders are missing
  • Slow in adopting new technology, especially in front-end of the application.
  • Longer turnaround time in incorporating new feature.
  • Most stockbrokers do not offer to trade at BSE and MCX through NOW.
  • Advanced charting features are not available.
  • Bracket order is not available.
  • The user interface is not as intuitive as other trading platforms.

ODIN Vs NSE NOW Features

  ODIN NSE NOW
Installable Trading Terminal Yes Yes
Trading Website Yes Yes
Mobile Trading App Yes Yes
API Access Yes No
Offered by Multiple Brokers Yes Yes
Equity Trading Yes Yes
Currency F&O Trading Yes Yes
Commodity Trading Yes Yes
Online IPO Application Yes Yes
Online Mutual Funds Yes Yes
Integrated Backoffice Yes No

ODIN Vs NSE NOW Charts

  ODIN NSE NOW
Chart Types Supported 15
Chart Indicator 100 80
Place Orders from Chart No Yes

Trading Platform Definitions and Abbreviations

  • Back-Office - The back office application facilitate trade analysis, managing funds in the trading account, managing portfolio, pledged holdings, P&L Statements, reports related to tax filings, end of day reports and historical data.
  • OMS – An Order Management System is a software program developed to execute market transactions in an efficient and cost-effective manner. Stockbroker uses OMS to manage orders received from customers.
  • RMS - The risk management system of Trading Platform. This core component manages various risk components while trading. This includes making sure that customer has enough margin available for open positions and take the required actions in case of short of capital.
  • Trading Product Types
    • MIS - Margin Intraday Square-off
    • CNC - Cash n Carry
    • NRML - Normal F&O trades
    • BO - Bracket Order
    • CO - Cover Order
    • AMO - After Market Order
  • Order Types
    • Market Order
    • Limit Order
    • SL Order - Stoploss or trigger
    • SL-M Order - Stoploss Market
  • Exchanges
    • BSE - Bombay Stock Exchange
    • NSE - National Stock Exchange
    • MCX - Multi Commodity Exchange