Mumbai: On 8 July, the Bombay Stock Exchange launched its Internet-enabled broker administration and trading terminals (i-BAT) system to enable brokers to set up offices in the country and abroad without having to spend on leased lines or VSAT terminals, according to a BSE press release.
The system is designed to help brokers expand their business and distribution at a low start-up cost and also move to any corner of the country by registering sub-brokers and branches. All that is required from the sub-broker or branch is an Internet connection.
The system allows brokers to set limits for each branch and sub-broker. This means they can centralise risk management work at their main offices.
BSE members can use the I-BAT system to open offices outside India, subject to Securities & Exchange Board of India regulations for expanding overseas.
Meanwhile, the BSEwebx, India's first exchange-based Internet trading portal, launched in February 2001, has seen a steady increase in volumes and investor registrations, according to the BSE press release.