SEBI to allow WAP use for Net trades

The Securities and Exchange Board of India said on Wednesday that its panel on Internet-based securities trading has decided to permit the use of wireless application protocol.

"This will enable WAP-enabled mobile device users to trade in securities using their mobile sets," SEBI said in a statement, adding this would extend the reach of markets and boost volumes.

The standing committee on Internet-based securities trading of SEBI also decided to follow messaging standards between brokers, depositories and banks as being evolved by a central bank panel, it said.

Some Indian brokerages offer their clients to trade in stocks through the Internet, dealers said.

The brokerage commissions on these trades range from 0.05 per cent to 0.65 per cent compared to 0.1 per cent to 0.45 per cent on trades done through a broker, the dealers said.

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