SEBI issues norms for mobile trading

Stock trading using the mobile phone is likely to get a push, with SEBI issuing a draft framework for securities trading using wireless technology. SEBI said it is exploring, through these guidelines, the possibility of extending the existing framework for Internet trading to enable use of wireless technology for securities trading. The guidelines for Internet-based trading were put in place by SEBI in January 2000.Quite a few brokers are already providing Web sites with low bandwidth to enable GPRS-based mobile phone users to access their Internet-based online trading platform.According to SEBI’s proposed framework, brokers who provide Internet-based trading services are eligible to use wireless technology for the same.