Indian Securities Company Unveils Mobile Derivatives Trading
Clients of Indian brokerage Edelweiss Securities Limited will soon be able to trade both securities and certain derivatives on their mobile phones.
The company announced on January 10 that it was releasing a mobile-trading platform for customers interested in trading both stocks and derivatives. Edelweiss clients may use their smartphones to trade equities on the National Stock Exchange and the Bombay Stock Exchange, as well as futures, options and currency derivatives on the NSE.
A litany of factors will help the trading system succeed, the Indian Express quoted Edelweiss Securities retail broking head Kedar Deshpande as saying. Not only are web-enabled mobile devices growing more popular – research firm IDC believes nearly 6 million smartphones were sold in India last year – but volatility in the securities market is prompting some people to demand the ability to hedge risk on-the-fly.
Indeed, Edelweiss Securities executive vice president Vikas Khemani noted recently to CNBC-TV18 that the markets are “precariously” positioned. “We are sitting closer to highs,” he said, “and a lot of headwinds are there.”