Trading on the move, NSE style

Trading on the move, NSE style

NSE kicks off trading via the mobile phone

BY Siddharth Kumar
Delhi

The National Stock Exchange (NSE) kicked off mobile trading to enable investors to execute buy or sell orders any time on the move, even while roaming outside the country.

So far, only a handful of member brokers provided this option to their clients, at their own cost. But now, for the first time an Indian exchange will provide this facility to all traders, the bourse said in a statement.

The facility will be available through brokers who have enrolled for NOW – the software used by NSE members – free of cost, the statement said. The brokers or the clients will not have to make any investments.

Investors will be able to trade through their GPRS-enabled mobile sets, while travelling anywhere in India or abroad. They will have access to trade in the cash market, derivatives or currency, just the way they do on their trading terminals, and at the same speed.

“This is another facility the exchange is providing to the large universe of investors, to make trading simpler and easily accessible to clients on the move,” said Ravi Narain, chief executive officer and managing director, NSE.

“Someone sitting in a remote corner like Darbhanga or Siliguri” execute trades, he added. “We expect that nearly 5 million investors would benefit from this move.”

http://www.tehelka.com/story_main47.asp?filename=Ws091110TECHNOLOGY.asp