A very interesting article by The Telegraph on the future of mobile share trading was published on 26th September. The article has been reposted in its entirety below.
Share trading on cellphones will boost the mobile security market as service providers gear up to provide data protection from hackers and viruses.
“The challenge in mobile trading will be to ensure data protection at the device level, server level and during a trading session,” Vishak Raman, regional director (India) of network security firm Fortinet, told The Telegraph.
Experts say the use of the digital signature will also be necessary to authenticate each transaction. A digital signature is the only legally valid certificate approved by the information technology act.
“Apart from antivirus and antispyware, data encryption levels over 128-bits will be required to ensure secure trading,” Raman said.
Last month, market regulator Sebi allowed investors to buy or sell shares using mobile phones. The move will encourage more people to trade. In India, 645 million people have wireless phone connection.
According to Infonetics Research, revenue from mobile security software will grow to 25 per cent of the total security software market (which includes computer security) by 2014. At present, the revenue from mobile security as a percentage of the total market is negligible.
Globally, combined revenues from desktop and mobile security software topped $958 million in the fourth quarter of 2009.
Two types of solutions will be used in mobile trading. One is a browser to trade online in handsets with Internet. The second solution will provide real-time price quotes and information through an application or platform downloaded from the broker or service provider.
Sebi, in its circular, has listed the security features which brokerages need to comply with before they start providing the service to clients.
“Adequate measures should be taken for user identification through means such as user ID, passwords, biometric devices or other reliable means to prevent misuse of the facility by unauthorised persons,” Sebi said in the circular.
Share trading on cellphones will boost the mobile security market as service providers gear up to provide data protection from hackers and viruses.
“The challenge in mobile trading will be to ensure data protection at the device level, server level and during a trading session,” Vishak Raman, regional director (India) of network security firm Fortinet, told The Telegraph.
Experts say the use of the digital signature will also be necessary to authenticate each transaction. A digital signature is the only legally valid certificate approved by the information technology act.
“Apart from antivirus and antispyware, data encryption levels over 128-bits will be required to ensure secure trading,” Raman said.
Last month, market regulator Sebi allowed investors to buy or sell shares using mobile phones. The move will encourage more people to trade. In India, 645 million people have wireless phone connection.
According to Infonetics Research, revenue from mobile security software will grow to 25 per cent of the total security software market (which includes computer security) by 2014. At present, the revenue from mobile security as a percentage of the total market is negligible.
Globally, combined revenues from desktop and mobile security software topped $958 million in the fourth quarter of 2009.
Two types of solutions will be used in mobile trading. One is a browser to trade online in handsets with Internet. The second solution will provide real-time price quotes and information through an application or platform downloaded from the broker or service provider.
Sebi, in its circular, has listed the security features which brokerages need to comply with before they start providing the service to clients.
“Adequate measures should be taken for user identification through means such as user ID, passwords, biometric devices or other reliable means to prevent misuse of the facility by unauthorised persons,” Sebi said in the circular.
[Posted By- The Telegraph]
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