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Mobile Trading: SEBI Drafts Framework; Role Of Mobile Operators?

Securities Exchange Board of India (SEBI) is now readying a proposal for mobile trading. It has put up a framework that lists guidelines and safeguards for brokers wishing to introduce such a service and has invited comments. Download the draft of the framework from here (PDF). SEBI has refrained from discussing the role of mobile operators. The regulator has, however, included them in its flowchart, so we've tried to look at how this could actually work out with all the players working together. Extension Of Internet Guidelines SEBI has introduced mobile trading as an addendum to its Internet trading framework, unlike RBI, which has treated mobile banking as a wholly different market from e-banking. Considering that there are 403.66 million wireless connections in the country, it would have been wise to factor in the scale and investments required by brokers while launching such a service. Rules that will simplify trading and usage for the end user are the need of the hour. The Face Of M-Trading: Operator Or Broker? The regulator has noted that individual brokers who are already offering Internet trading could offer this service or a few could collectively approach an ISP to set up such a trading facility. This is presumably to set up a private network (VPN) with the mobile operator so data is transferred securely. But SEBI goes on to say that in case this connectivity is severed, brokers must ensure trading information continues to flow - either via the Internet or via telephones. M-trading…

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