With a view to making trading in stocks simpler and easier, the Bombay Stock Exchange (BSE) has invited broker-members to register with its wireless platform that will allow investors to place buy or sell orders using mobile phones.
The guidelines for wireless trading follows an August 27 circular by market regulator the Securities and Exchange Board of India (Sebi).
The National Stock Exchange has already started trial trading via wireless technology for its members.
The facility will enable any registered broker or a client to trade from anywhere in the country to trade through their mobile phones. Clients can place orders, view positions and trade from anywhere in the country, said a person familiar with the matter.
As per the BSE guidelines, the trading members of the bourse will have to submit an application that will be followed by a system audit.
Only on fulfillment of the requirements mentioned in the Sebi/BSE circulars, permission for commencing securities trading using wireless technology would be granted, it said.
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Once the exchange grants the approval, a member can start providing this mobile trading facility to clients.
Last month, the regulator had issued necessary guidelines for providing securities trading using wireless technology which includes devices such as mobile phone and laptops with data card.
Last week, an NSE official had said that the exchange is gearing up to launch trading over mobile phones through nearly 800 registered brokers in early October.