Not to be left too far behind the BSE in mobile trading, the National Stock Exchange (NSE) has issued its guidelines for the same. As has been recommended by India’s stock markets regulator SEBI, brokerages who offer online trading can offer the same on mobile, following a comprehensive demonstration of the software to the NSE. The NSE also plans to do a yearly audit of mobile trading. Separate forms have been issued for Capital Market Trading download, Currency Derivates Trading (download), and Futures & Options trading.

We had earlier mentioned, given that this is wireless technology, there may be issues of speed and connectivity (not that there aren’t with wireline). So who is liable? According to clause 8 in the “Model Member-Client Agreement”: The CLIENT agrees that the MEMBER shall not be liable or responsible for nonexecution of the orders of the CLIENT due to any link/system failure at the CLIENT/MEMBERS/EXCHANGE end. (ED: Member here refers to the brokerage).


In terms of security, the brokerage has to look into the following issues:
– Access for order routing is permitted only through the use of client specific User ids
– The access is permitted only through the use of client specified password (private code)
– The system provides for automatic expiry of passwords at the end of a reasonable duration and reinitialisation of access on entering fresh passwords.
– Suitable firewalls between the trading set-up and the Gateway server for wireless technology trading services are available
– Secured socket level (SSL) security for server access through wireless technology is available. Complete details of the certification obtained (including certifying authority, period of validity of the certificate, etc), if any, with regard to SSL security on the website providing the securities trading using wireless technology service to be enclosed and copy of such certificate

Download Forms
Capital Market Trading
Currency Derivates Trading
Futures & Options Trading

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