BSE, NSE come together for combined trading platform

Stock trading can now be done on Bombay Stock Exchange's (BSE) online trading platform using National Stock Exchange's (NSE) software, free of cost till 2011.

As per a deal between the two principal bourses, BSE's online trading platform (BOLT) would be available on NSE's software Neat-on-Web (NOW) one month from now, for free, till 2011, sources close to the matter said.

Sources also said that NSE and BSE have both agreed on the deal for combining the BSE platform with the NOW software.

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Traders on NSE would get access to the over 7,000 companies listed on the BSE, while NSE has around 1,400 firms listed on it.

At present, over 1,84,000 NSE trading terminals are in use across the country from where orders can be entered into the system. The number of trading terminals of the NSE in the country is set to cross the two-lakh mark soon, an official said.

Traders said that BSE's coming together with NSE, which have always been arch rivals was surprising, but in days of falling trading volumes this might encourage more investors to enter market.

Besides, Financial Technologies, promoters of Multi Commodity Exchange (MCX), charges up to Rs 12,000 per user ID for using its ODIN platform for trading.