Market regulator SEBI has recently cleared a move which will allow investors to buy or sell shares using mobile phones. The move aims to encourage more people to trade while widening the investor base. SEBI stated that it would allow stock brokers to trade using wireless technology including laptops with data cards via the internet. Secure access , Encryption and security are prerequisites for providing this service.
The regulator said that brokers would also have to take adequate measures for user identification, authentication and access control using means such as user-ID, passwords, smart cards and biometric devices to prevent misuse of facility by unauthorised persons. The unique identification number used in the case of internet based trading will be applicable for securities trading using wireless technology.Broking firms are gearing up to launch the service to investors as it could really increase the subscriber base.
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