The cumulative impact of changing stock trading norms, ban on badla and other deferral products and introduction of options trading has taken its toll on the online trading mechanism of the Bombay Stock Exchange (BSE), BSEwebx.
Poor response from members of the exchange as well as the investors has forced the authorities to continue with the early bird incentive till September-end. The BSE has also decided to continue the waiver of Rs 50,000 one-time registration fee, the transaction charge of 0.003 per cent and WebXlicense fee of Rs 2,500.
BSEwebx.com, exchange-enabled system for Internet trading was launched by minister for information and broadcasting, Pramod Mahajan on 3 March.
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The trading platform provides not only content, but also facilitates wired and wireless Internet Trading, and payment and depository interfaces.
It supports multi-product capabilities, multi-mode delivery mechanisms and multi-exchange routing. The investors even have the benefit of choosing their own broker/ branch or sub-broker registered for trading, allow them to directly place orders and also track their status and intra-day risk profile in real-time.
There are around 300 member brokers registered with BSEwebx.com. The registered members can also move their entire hierarchy of branches and sub-brokers into this system. The system, has to yet, provide connectivity for the payment gateway and depository for smooth settlement.
The system also allows for carry forward of stocks, but with the ban on badla and the borrowing and lending mechanism from July 2, there are few takers.