Retail brokers set to launch mobile trading after SEBI nod
30 August 2010
Top retail brokerages, led by Geojit BNP Paribas, Kotak Securities, Motilal Oswal Financial Services and India Infoline, are all set to launch mobile trading after the Securities and Exchange Board of India allowed securities trading using internet protocol, according to reports.
On Friday SEBI had issued guidelines for securities trading using wireless technology via mobile phones and laptops with data card, paving the way for brokerages to allow their clients to buy and sell securities even while on the move.
While issuing the circular on securities trading through wireless technology, SEBI asked the stock exchanges to ensure that brokers comply with secure access, encryption and security of communication for internet-based trading and securities using wireless technology.
Adequate measures should also be taken for user identification, authentication and access control using means such as user ID, passwords, smart cards, biometric devices or other reliable means, to prevent misuse of the facility by unauthorised persons, it said.
A spokesperson for India Infoline said, ''We are operationally ready but exchanges are yet to clarify mobile trading as a technology for setting up a platform.''