Bombay Bourse Debuts Web Portal

BOMBAY—The Bombay Stock Exchange (BSE) recently launched a transaction platform, dubbed BSEWebx, that facilitates trading via the Internet.

Through Webx, investors can choose brokers and conduct daily transactions. The platform is based upon a three-tiered data center infrastructure that relies upon a fault-tolerant hardware server and a database system from the former Tandem Systems, now owned by Hewlett Packard (HP). The Tandem server line has been rebranded as the HP Integrity Non-Stop systems.

The infrastructure also incorporates RISC-based hardware from HP, including the high-end AlphaServer GS and midrange ES level servers, deployed as application and transaction servers. The Alpha hardware was originally developed by the former Digital Equipment Corp. (DEC), also acquired by HP. Officials at BSE are also using software from BEA Systems, maker of the Java-based Web application server suite, dubbed WebLogic Portal 9.2. The exchange also used AppLabs Technologies, a software testing specialist, to help with the launch.

The exchange is using data center load directors and routers from Nortel Networks and firewalls from Check Point Software Technologies. In addition, BSE Webx uses 128-bit, secure sockets layer (SSL) for transaction encryption over the Internet from VeriSign.

In terms of transparency and trading, an investor will be able to visit BSE Webx, search for a broker, or registered sub-broker or a branch and register with that individual for trading. Once the registration formalities are complete, the broker assigns a username, password and risk profile for transactions and the investor can trade via a secure connectivity.

BSE officials will provide three levels of access for BSEWebx. Eazy is the simplest version of the platform for investors, say exchange officials. It is targeted at users who want to view online quotes, market depth, indices, and company-related announcements on scrips. Investors will be able to place orders, track the status of orders placed and confirmations on trade execution as well as view their net/margin positions, say BSE officials. "It is useful for the type of clients who are not regular traders, and deal only in the few scrips," according to BSE documents. "This product is also useful for those types of clients who do not have good Internet connectivity."

At the BSEWebx Classic level, investors are provided with a portfolio of scrips as well as the order placing, tracking and confirmation capabilities of the Eazy layer. "In Classic, clients can create, edit and delete market watches," according to BSE documents. The exchange will charge 100 rupees ($2.25) per client per month. There is no charge for the Eazy version.

The high-end BSEWebx Premium product offers investors the ability to create multiple portfolios of scrips for market watching—up to three views of market watches at a time. This version allows for the charting of scrips according to intra-day, end-of-day, and historical activity.

"Premium provides … various charting tools with more than 30 popular indicators for charting real-time quotes," according to the BSE, which offers data from the past five years for charting. The Premium version can be used "totally by keyboard," say BSE officials. "If a person is not comfortable with a mouse, there is a list of short-cut keys available in the Help file." The exchange will charge 300 rupees ($6.74) per client per month.

In addition, the exchange will provide the first broker administration terminal for free, but will charge 500 rupees ($11.23) per month for each additional terminal, BSE officials say.

BSE officials are developing a remote version of BSEWebx with mobile trading capabilities. That version may launch as early as next year, according to an exchange spokesperson.