1.National Stock Exchange is taking steps to arrange for stock trading through mobile catering to 800 NSE brokers thus indirectly covering 1.20 crore clients. This may be operational either in the middle of Sep 2010 or early Oct2010.
2. Clients can place orders, view positions and trade from anywhere in the country.
3. Trial run will be from 6th Sep 2010 and data like the best bid and ask prices of Nifty stocks, other stocks, derivatives and currencies will be made available to 50 brokers picked up randomly by computer. If successful, it will be extended to 800 active brokers and their investors from 13th Sep 2010.
4. NOW software is used for this mobile trading by NSE and it will be provided free of cost to NSE brokers first and then later on to clients of brokers. The trading will be similar to internet stock trading.
5.Brokers will be given a URL by NSE and as usual login will be there using user id and password to verify the identity of user. Similar case for clients of brokers. Brokers will have to give software to their clients for this purpose. Connectivity for cellphones will be as fast as high-speed Internet through Airtel, BSNL and Tata.
6. So stock trading is made easier one covering even rural areas where mobile phones are working and hence it will attract more investors to NSE. There is no need for internet. Those having GPRS connections also can use this facility. Thus it will cover almost 100% of mobile users.
7. Those who travel abroad also use mobile phone of any one and trade using id and password just like internet trading.
No comments:
Post a Comment