BSE commences mobile-based trading

The Bombay Stock Exchange Ltd (BSE), India's oldest stock exchange launched mobile-based trading Tuesday through its 33 leading brokers, a senior Exchange official said.

"We have started providing user-friendly mobile-based trading from today. The top 33 brokers of BSE commenced mobile trading for their clients," BSE's Managing Director & CEO, Madhu Kannan told reporters here.

Leading BSE stock brokers namely, Angel Broking, Motilal Oswal Securities, Marwadi Shares & Finance, BCB Brokerage, Asika Stock Broking, Geojit BNP Paribas Financial Services, SMC Global Securities, ICICI Securities, India Infoline, Kotak Securities, Standard Chartered STCI Capital Markets are among those who started providing mobile based trading facility to its clients.

The mobile trading service will be extended to all the investors through its 900 active brokers soon. Mobile trading is essentially an extension of internet based trading.

Kannan said the security on mobile trading will be same as on internet trading. Brokers will have full control of the risk parameters since orders submitted by client on his mobile will be sent via the broker's servers to the exchange.

SEBI allows trading using cellphones, laptops etc

Mumbai: Putting an end to a long wait, trading in the stock exchange can be done through cellphones and laptops now, a Securities and Exchange Board of India circular released Friday said.

“It has been decided that SEBI registered brokers who provide Internet Based Trading as shall be eligible to provide securities trading using wireless technology. All relevant requirements applicable to internet based trading shall also be applicable to securities trading using wireless technology”, the circular said.

The investor with a wireless device will be able to download the facility provided by his broker to the device and can buy or sell shares on the move.

The encryption and security of access will governed by the DoT regulations. The circular also calls for putting in place alternative means o communication if there is a failure in the network. A unique identification number like in internet based trading shall be made applicable.

India with its high level of cellphone penetration, could witness a revolution in trade volume. India’s cellphone subscriber base stands at 636 million as on June 2010.

Many large broking houses like Geojith BNP Financial Services, Motilal Oswal Financial Services already have the system in place. They are waiting for approvals from the stock exchanges, which are responsible for overseeing the broker’s adherence to SEBI guidelines.