BSE launches mobile-based trading

MUMBAI - The Bombay Stock Exchange Tuesday launched mobile-based trading in presence of well-known broking firm representatives, an official said.

“It was with expertise of software vendors like Marketplace Technologies, Technova Religare and Financial Technology that BSE commenced its mobile trading operations in a record time,” a BSE spokesman said.

“BSE is the first Indian exchange to launch the much awaited mobile trading. To begin with, more than 30 members have confirmed their participation and commencement on the first day itself. More are expected to start operations in next few days,” he added.

BSE will provide its members a test-environment to test the solution and members can use existing IML (Intermediate Message Layer) ids.

Speaking at the launch, BSE chairman S. Ramadorai said: “We have received an encouraging response with participation from over 30 brokerage firms. We believe that this will advance the development of financial inclusion through higher penetration of capital markets by leveraging the mobile telecom infrastructure in the country.”

Motilal Oswal of Motilal Oswal Securities added: “The kind of revolution mobile has brought to masses, it has become difficult to live without mobile for even a few seconds. With this initiative, India will be at par with global standards as far as e-commerce is concerned.”