Zee Interactive Learining Systems has announced two tie ups involving the Bombay Stock Exchange and Electronic Data Systems.

ZILS claims to have invested Rs. 500 million in its business and aims at injecting another 500 million over the next two years.

Reports state that this year the company expects revenues of Rs. 450 million. By 2005-2006 the company is looking at business of Rs. 5 billion. ZILS is aiming to grab at least 15 percent of the e-learning market in the next few years indicate reports. ZILS considers its arch rival to be Tata Infotech with both companies looking at a 25 percent market share.

One of ZILS‘s new ventures involves Bombay Stock Exchange Derivatives launching BSE‘s certification on Derivatives Exchange (BCDE) web based On-Line Test at 50 Zed Career Academies of across India. The test has been approved by the Securities and Exchange Board of India (SEBI)

An official release informs that this test will benefit capital markets professionals involved in the derivatives trading such as brokers, sub-brokers, dealers and salespersons in derivatives, mutual funds, foreign institutional investors. The facility will enable the market participants to comply with the SEBI guidelines. As per the guidelines at least two people should be certified in the institutions dealing with trading in derivatives.

Speaking on the joint venture with BSE CEO ZILS Dilip Mahapatra said, " The scope of this partnership is immense, as SEBI has made it mandatory for all brokers, sub-brokers, FIIs, Derivative Dealers, Mutual Funds and all other institutions trading in derivatives to have at least two professionals certified in Derivatives".

Candidates who wish to take the fortnightly test can register themselves at the nearest Zed CA centre. The list of centres for registration is available on www.zcaonline.com the release states. Certificates will be issued by BSE Training Institute to students who have successfully completed the test.

Participants can take a demo test before the actual test. They will be given an analysis of their performance through a graphic display. The ZILS test engine known as LITMUS, also offers administrators the flexibility to set the parameters like random or sequential generation of questions, single or multiple-choice selection of answers. It also helps to program the logic of the test including the difficulty levels of the questions.

In a related developement ZILS also announced that it would provide back end support to Electronic Data Systems. EDS claims to be a $21.5 billion US based IT services company. ZILS will create content as well as customise it for EDS.

According to Dilip Mahapatra the contract is time bound contract with a revenue sharing arrangement. The alliance with EDS is part of ZILS‘s endeavour to create a space for itself in e-learning by setting up the infrastructure to deliver, manage and access content. .