The Bombay Stock Exchange (BSE) is coming out with guidelines for its members to avail the mobile trading facility. With this, investors will soon be able to trade in equities on their mobile phones.
On August 27, the Securities and Exchange Board of India (SEBI) gave its go-ahead for the launch of mobile trading for those brokers who currently provide an Internet-based trading facility. It is expected that, there are currently close to 500 brokers providing internet trading facility to their clients. They are well-equipped to venture into mobile trading, given the regulatory nod feel experts.
To avail the facility of securities trading using wireless technology at the BSE, trading members need to submit an application, which will be followed by a system audit. Only on fulfillment of the requirements mentioned in the SEBI/BSE circulars, permission for commencing securities trading using wireless technology would be granted to the trading member.
Brokers are planning to attract young and tech-savvy population both in urban and semi-urban areas into the capital market through the wireless trading channel. Further, the wireless trading will also benefit those investors whose profession requires frequent traveling.