Dec 18, 1999|
Millennium to usher in stock trading on Net
Internet stock trading has got the green signal from the Securities and Exchange Board of India (SEBI) under the existing legal framework.
According to a news report appearing in a leading financial daily, SEBI will try to get approval from its board before the year-end so that Internet trading can take off by January 1, 2000.
The SEBI panel has suggested that the Internet be linked to the exchanges' trading system to reduce delay. However, the Department of Telecommunications (DoT) could play spoilsport if it sticks to its demand for an interconnection fee of Rs 1.5 m from each broker.
Stock trading on the Internet seems ready to take off at last. If the experience of countries like US, Korea is any indication, e-trading in the country will spark off renewed interest within the Indian investor community. The ease and simplicity of the whole process makes it a top draw with investors. It will also encourage prospective investors who had stayed away from equity markets due to procedural hassles to participate in equity investments.
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