SEBI permits shares trading using mobile phones

Market regulator Sebi has paved the way for investors to buy or sell shares using mobile phones, a move which could encourage more people to trade and also widen the investor base in a country which has a wireless phone subscription of 645 million.

Sebi said on Friday that it would allow stock brokers to provide securities trading using wireless technology, including laptops with data card that use internet protocol. Brokers, who wish to provide this facility for investors, will have to ensure that they provide secure access, encryption and security for internet-based trading and securities trading using wireless technology, the regulator said in a statement on Friday.

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.

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