Trading rings: Stocks on mobile
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When commerce and banking have gone mobile, can stock trading be far behind? A year after capital markets regulator Sebi proposed mobile trading and a month after the final approvals, many institutions have boarded the mobile bandwagon, offering trading applications and related services. From now, with an Internet-enabled smartphone, you will be able to view portfolios, place orders and watch streaming quotes in real time. Move over Internet trading, mobile trading is here. India's premier bourse the Bombay Stock Exchange (BSE) launched its mobile trading platform this week. National Stock Exchange, the country's largest stock exchange, also plans to launch a similar service early next month. A single log-in will allow access to account details, market depth of selected scrips and streaming quotes every 30 seconds. The mobile application will work with GPRS-enabled phones and brokers will have to meet Sebi guidelines on security. Currently, one can trade on mobile with FASTRADE, a BSE-developed application or through applications developed by broking houses. Broking houses have caught on: Motilal Oswal Securities has launched MyBroker Mobile for trading on BSE, which will let customers buy and sell stocks, modify or cancel pending orders, select any open position from the net position, report and place a square-off order. Customers will also have instant access to top gainers, losers and traded value along with indices. The Angel Broking application Angel SWIFT provides real-time quotes and charts and a single market watch for equities and commodities. The same login ID and password can be used for mobile trading and conventional desktop-based Internet trading. Geojit BNP Paribas, SMC Global Securities, ICICI Securities, India Infoline and Kotak Securities too have entered the mobile trading arena. As per Sebi norms, broking houses are expected to inform their clients about the risks, responsibilities and liabilities of mobile trading before providing the facility. All trades using wireless technology will have a unique identifier number to differentiate these orders from normal orders. Despite the ease of use and convenience, experts say there are many loopholes which need to be plugged. Network and Internet connectivity are often patchy; what if connection snaps during a large transaction where share prices fluctuate every second? If shares are bought twice in a technical glitch, who will be accountable? Sebi has mandated that alternative means of communication like telephone or Internet be in place in case the wireless connection snaps. However, quick changes in share prices may result in unintended losses for some. Says Madhu Kannan, MD & CEO, BSE: "We have started providing user-friendly mobile-based trading. Security on mobile trading will be same as Internet trading and brokers will have full control of the risk parameters since orders submitted from the mobile will be sent via the broker's servers to the exchange." Vinay Agrawal, executive director, (equities broking) Angel Broking says customers must be careful and never share their login credentials with anyone. "Another person may able to when you type your ID and password. There is no possibility of anyone hacking the ID and password once the message has gone from the mobile phone to the mobile service provider and then to broker server, as we are using 128-bit encryption." A year ago, Sebi had proposed mobile trading frameworks to enable registered brokers to provide securities trading using wireless technology. Registered brokers can provide securities trading using wireless technology after obtaining permission from respective stock exchanges. As India has a lot more mobile phones than personal computers, securities trading through the mobile platform will help in the rise of equity culture.

Geojit BNP Paribas, the pioneer of Internet Trading in India, is also the first broker to launch Mobile Trading for FREE.!
FLIP-ME is a fully loaded power-packed Mobile application that empowers you take advantage of the Markets, no matter where you are!!!

You can buy, sell, track your orders, view the Market Watch, real-time quotes, Indices, buying power and much more is all available in your Mobile real-time. FLIP-ME Features:- Trading Features Real Time Market information • Place Buy / Sell orders • Multi segment/ Multi Exchange • Modify/ Cancel Pending Orders • MBP • Order Book • Quotes • Trade Book • Indices • Real-time Buying Power • Add/Delete/Search scrips • Payout Requests • Intraday Charts • Portfolio • Trading Ideas • Change Password How to Enable Mobile Trading:- • If you are an Online customer, login to Customer care website and register for Flip-Me under 'Services' option. • If you are an Offline customer, visit your Branch and complete the formalities for Online Trading. Installation Procedure:- • Type the URL http://m.gbnpp.in on your mobile browser. • You will be prompted to download the application. Follow the steps and download the application in your mobile. • Launch the application which has been downloaded in your handset.
Note:-

You need a Java enabled phone with GPRS activated on it by your service provider. Please ask your service provider for the appropriate settings to be downloaded.
TO KNOW MORE: Mobile: Landline: 9766321725 020 - 26333893 Mail: imran_i260@geojit.com

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