Wireless securities trading okayed by Indian regulator, SEBI
Market regulator Securities and Exchange Board of India has permitted the use of wireless devices – cell phones, notebooks and the like - for trading on the share market -- what is called smart order routing.
This means the days of having to call up a broker or logging on in a computer to buy sell or transfer shares are over.
The major stock exchanges have already put in place their own mechanisms to make this happen
If you already deal with a brokerage firm for your trading, you may have to download a special chunk of software to enable your mobile device.
Major brokers like Geojit, Karvy, Angel, Kotak, BNP etc already facilitate trading through their websites – so really this is a small incremental step as far as they are concerned.”All relevant requirements applicable to internet based trading shall also be applicable to securities trading using wireless
technology” says SEBI
Till today, you could check the rise and fall in prices of your stocks on your phone: now you can do something about it—right away!
Here is a link to the SEBI Circular: http://www.sebi.gov.in/Index.jsp?contentDisp=SubSection&sec_id=25&sub_sec_id=25
Aug 30 2010