Indian brokers go mobile with Financial Technologies
23 September 2010 | 5195 views | 0
Source: Financial Technologies
Financial Technologies India Ltd (FTIL), the leading trading technology company in India providing front-end trading solutions for brokers and institutional clients, has facilitated mobile trading in Indian capital markets via its new applications iWin™ and Net.net.
FTIL's mobile trading solutions are compatible with both Multi Commodity Exchange (MCX) and MCX Stock Exchange. Brokers can start trading on both these exchanges after obtaining necessary approvals from the exchanges. Brokers using FTIL's mobile platform will be able to trade on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). In fact, FTIL is the pioneer in offering mobile trading solutions and has been ready with this offering for over 2 years.
Brokers, who provide Internet-based trading as specified by SEBI, are eligible to provide securities trading using wireless technology. Both the applications—iWin™ and Net.net—are powered by robust and proven architecture of ODIN™ Trading Solution and offer an easy and anywhere anytime access to the market for the users. As these products are offered on existing ODIN™ trading platform, they can be implemented in a very short time with no additional IT infrastructure cost involved.
iWin™ offers trading capability to equity, currency derivatives and commodity segments. The application is available on all popular handsets including Blackberry, Windows Mobile and Symbian S60. Net.net is a low band width trading portal that can be accessed easily even on slow internet connections on mobile devices and laptops with wireless data cards.
Mr. Dinesh Thakkar, CMD, Angel Broking Ltd, said "There are about 652 million mobile users, as compared to 9.45 million broadband users, which offers huge potential for mobile trading. As mobile phone penetration in India grows exponentially so will be the growth of services offered through the mobile. Mobile banking and Mobile payments have already commenced and now Mobile trading. We have currently implemented the FTIL mobile trading solution and are quite happy with the quality of the FTIL solution, which can be deployed easily with no incremental infrastructure costs. The implementation was completed in a record time of 3 days. We are sure that these new productcts from FTIL product suite will help us to achieve our goal of offering mobile trading to our customers."
Mr. Manjay Shah, Director - Business Development, Financial Technologies India Ltd., said "We welcome the move by the regulators to allow mobile trading in equity and currency derivatives segments. We feel that the future of Internet is mobile. Also considering the fact that the no. of mobile users in India is very much higher than PC users, we believe our new offerings would allow members to not only offer a value addition to their existing clients but allow them to tap a larger client base which can now have an easy access to markets. Moreover our mobile trading applications are designed on our existing ODIN™ trading platform. This has allowed us to offer superior technology without incurring any additional infrastructural cost."
Top retail brokerage houses, led by SMC, Angel Broking, Enam, Sushil, Mangle Keshav, Ashika and Rajkot-based Marwadi Group, have already launched mobile trading using FTIL's platform.