Earlier,Bombay Stock Exchange has launched mobile-based trading, Now 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.
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.