The National Stock Exchange has invited brokers to register for trading over its new wireless platform, which allows investors to buy or sell securities using mobile phones.
NSE, the country’s top equity bourse, has come out with a set of guidelines for wireless trading, following an August 27 circular from market regulator SEBI. The exchange has already started trial trading via wireless technology for its members.
The facility will enable any registered broker or a client to trade over their mobile phones from anywhere in the country. Clients can place orders, view positions and trade from anywhere in the country. By NSE guidelines, member brokers of the bourse will have to submit an application seeking permission to commence securities trading using wireless technology, which would be granted on a case-by-case basis, it said in a statement. Once the bourse grants approval, a broker can start providing this mobile trading facility to clients.
Last month, market regulator Securities and Exchange Board of India had issued guidelines for securities trading using wireless technology, including devices such as mobile phone and laptops with data cards.
