It has been almost a year since the Securities and Exchange Board of India (SEBI) proposed mobile trading. Almost two months ago the details were finalised. Now you are seeing the first bells for mobile stock trading applications.
Although the smart phone users with mobile browsers could do online trading over the internet, the current change would allow any mobile phones with GPRS to have applications that could allow stock trading. The two major stock exchanges have already got ready. The BSE has expanded its FastTrade platform to accommodate mobile applications.The NSE along with MarketSimplified is testing their platform to deliver mobile trading.
With more than 600 million mobile userbase in India, the software development companies which focus on mobile applications have been getting ready for the mobile trading application over the last year. There are a lot of software development companies who have their applications ready and many running their race to have thier applications ready.
Also there are other simpler applications like the mTraderfrom Konnect Technologies which helps the mobile user to keep track of their stocks. We would be writing more about such applications in the upcomming posts.
The success of these applications is certain with the mobile userbase which is larger than the PC userbase in India. But the question of how soon the applications would be adaped by the user community would depend on user experience provided by the applications particularly the speed.