With a view to reach out to more customers, the National Stock Exchange (NSE) is gearing-up to launch mobile trading through nearly 800 registered brokers in early-October, an NSE official said.
Currently, only about 10-15 big brokers who have the infrastructure, offer mobile trading but at very high costs. “For the first time in India, NSE is taking steps towards facilitating nearly 800 members and their clients (total 1.2-crore investors) to trade through the mobile infrastructure set up by NSE from early-October,” the NSE official said, adding that NSE has 1,200 active brokers.
In early-October, the NSE will enable any registered broker or a client to trade from anywhere in the country through their mobile phones. Clients can place orders, view positions and trade from anywhere in the country, the official said.
NSE’s 50 randomly picked brokers will start getting market data on their mobiles from September 6. The market data facility will be extended to all brokers and investors on their mobiles effective from September 13. The data includes the best bid and ask prices of Nifty stocks, other stocks, derivatives and currency. Mobile trading will be conducted similar to Internet trading.