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SEBI allows stock trading on mobile
By
SiliconIndia,Friday, 20 August 2010, 03:40 Hrs
Mumbai: The technical panel of the Securities and Exchange Board of India (SEBI) has permitted to launch stock trading on a mobile phone platform. The issue was addressed to SEBI's technical advisory committee headed by S Sadagopan, professor, IIT Bangalore, reports Rajesh Abraham of the Financial Chronicle.
According to a senior SEBI official, the entire issue is related to security and revolves around the question that what will happen if a client disowns trades done through his mobile phone. It may be because the instrument was stolen or misplaced, he added.
SEBI's technical advisory committee has suggested security settings similar to those used for internet banking. There will be a login password and a transaction password for mobile trading, in addition to the mobile phone.
The broking firms will be the service providers in this case and will have the primary responsibility for providing the feeds to clients and the security aspects of mobile trading. Stock exchanges need not have to upgrade their systems to provide mobile trading facility to brokerages, according to a SEBI official.
According to a senior SEBI official, the entire issue is related to security and revolves around the question that what will happen if a client disowns trades done through his mobile phone. It may be because the instrument was stolen or misplaced, he added.
SEBI's technical advisory committee has suggested security settings similar to those used for internet banking. There will be a login password and a transaction password for mobile trading, in addition to the mobile phone.
The broking firms will be the service providers in this case and will have the primary responsibility for providing the feeds to clients and the security aspects of mobile trading. Stock exchanges need not have to upgrade their systems to provide mobile trading facility to brokerages, according to a SEBI official.
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Reader's comments (1)
1: Wow.. that is a great news, this will be a
revolution.
Posted by: dona - 20 Aug, 2010
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