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PROJECT REPORT
ON
“ONLINE SHARE TRADING”
AT
BONANZA PORTFOLIO LTD,
Pune.
BY
Vaidya Manik R.
UNDER THE GUIDANCE OF
Pro. Shobha Jamadar
FOR THE PARTIAL FULFILLMENT OF THE COURSE
[MASTER IN BUSINESS ADMINISTRATION]
Jayawantrao Sawant College Of Engineering ,
Hadapsar, Pune - 411028
2008 – 2010
EXECUTIVE SUMMARY
A typical investor, less than a decade ago, would have invested only in bank FD’s,
company FD’s, post office savings and the assured-return schemes of UTI. The most
aggressive foray for such an investor would have been either a small holding in equity
funds or a small investment in direct equities which he would have acquired more by
default rather than by design.
Today the time has changed; investors are directly participating in the equities with
considerable proportion of there savings. That is why BSE indices are gaining a lot. BSE
Sensex gained impressive points. It has touched 21206.77 marks.
Since retail investors are directly participating in to equities, brokers and online service
have also got a lot of business. To invest in equities, retail investors have two providers
options with them viz., through online share trading or through brokers. People have no
doubt in their mind that the introduction of online trading is going to bring a great change
in the securities market. People have highly voted for transparency feature of online
trading. People who often trade in the securities market are very much keen to go for
online trading. The small investors or who seldom trade and often would like to hold the
stocks for very long period are unwilling to go online. Minimum charges or an annual
charge levied by e-trading companies is the barrier for small investors.
There is still one class of people who still depend on their broker and the brokers are also
providing services on competitive charges. This is a class of people, which is
comparatively less educated, and consists of small traders and old generation people.
People gave preferences to BONANZA Stock Broking on the creditability criteria.
Bonanza is a experienced player in the finance sector, having been in the field for twenty
five years now BONANZA Stock Broking, has provided me an opportunity to work with
them and to conduct the survey. During the project along with the survey I was also
promoting the product of BONANZA dealing in online securities.
The survey was conducted to analyze the prospective customer awareness for various
online trading services available in the market, to find out the factors, which would
influence the buying decision of the customer, and to find out the interests of the
prospective customer in online trading of securities. The research also tries to find out the
services offered by major players by comparing them on various ground and bring out
their special features. And given process of online trading. How’s Bonanza online
process is held? With this objective in mind, a small survey was conducted in the
selected areas of Pune.
ACKNOWLEDGEMENT
It would be a great pleasure for me to take this opportunity in thanking everybody who
had been of great help in the completion of my summer project. This project has been a
platform in my learning about the Financial sector and gave the platform to acquire
knowledge in this area.
First & foremost I would like to thank Mr. Nitin Apte (Divisional Manager) for giving
me an opportunity to work as a summer trainee in BONANZA Protfolio LTD, Pune.
I Would also like to thank Mr. Tanmaya Khuntia for giving us guidance regarding
PMS,and Equity trading and helping us to complete our project successfully.
It is my earnest endeavor. Express sincere thanks to Pro. Shobha Jamadar my Internal
guide of MBA and other faculty member of Jayawantrao Sawant College Of Engineering,
for their kind co–operation which made me worthy of being able to pursue such a
challenging project and complete it successfully.
Last but not the least my thanks to all my colleagues, specially Ravi Pawar & Sumit
Fulari who have been generous with their time support and encouragement.
VAIDYA MANIK R.
MBA
COMPANY PROFILE
BONANZA MISSION STATEMENT
Our mission is to be a leading, preferred service provider to our customer, and we aim to
Achieve this leadership position by building an innovative, enterprising and technology-
Driven organization which will set highest standards of service and business ethics.
BONANZA, is a premier integrated financial services provider, and ranked among the
top five in the country in all its business segments, services over 16 million individual
investors in various capacities, and provides investor services to over 300 corporates,
comprising the who is who of Corporate India. BONANZA covers the entire spectrum of
financial services such as Stock broking, Depository Participants, Distribution of
financial products - mutual funds, bonds, fixed deposit, equities, Insurance Broking,
Commodities Broking, Personal Finance Advisory Services, Merchant Banking &
Corporate Finance, placement of equity, IPO’s, among others.
Bonanza – Early Days
The birth of Bonanza was on a modest scale in 1981. It began with the vision and
enterprise of a small group of practicing Chartered Accountants who founded the flagship
company. Bonanza Consultants Limited. It started with consulting and financial
accounting automation, and carved inroads into the field of registry and share accounting
by 1985. Since then, we have utilized our experience and superlative expertise to go from
strength to strength…to better our services, to provide new ones, to innovate, diversify
and in the process, evolved Bonanza as one of India’s premier integrated financial service
enterprise.
Bonanaza Group Companies
Bonanaza Consultants Ltd.
Bonanaza Stock Broking Ltd.
Bonanaza Investor Services Ltd.
Bonanaza Computershare Pvt. Ltd.
Bonanaza Global Services Ltd.
Bonanaza Comtrade Ltd.
Bonanaza Fortune.
Bonanza was started by a group of five chartered accountants in 1979. The
partners decided to offer, other than the audit services to their clients, value added
services like corporate advisory service to their clients. The first firm in the group,
Bonanza consultants limited was incorporated on 23rd July, 1983. In a very short
period of, it became the largest Registrar and Transfer Agent in India. This
business was spun off to form a separate joint venture with Computershare of
Australia, in 2005.
The leading integrated financial services provider in India
1979
1985
1990
1993
1995
1997
2000
2002
2004
2006
Inception Co
rporate Registry
Services
Stock Broking Services
Financial Products
Distribution
Corporate Financial
Services Dep
ository Services
IT Enabled Services
Personal Finance
Advisory Services
Debt Market
Services
BonanzaGlobal
Services
2007PCG group of
Hongkong
took 20% stake in KSBL
JV with Australian
Computershare
Bonanza
Comtrade
2008Bonanza Realty & Services
(India) Limited
2009
Bonaza Fortune
Bonanza has 575 offices over 375 locations across India and overseas at Dubai
and New York. Over 9,000 highly qualified people staff Bonanza.
Bonanza Corporate and Mutual Fund Share Registry and Investor Services
business, India's No. 1 Registrar and Transfer Agent and rated as India's "Most
Admired Registrar" for its overall excellence in volume management, quality
processes and technology driven services.
Bonanza Insurance Brokers is registered as a Corporate Broker with IRDA and
ranks among the top 5 Insurance Agent in the Country registered with NSDL and
CDSL.
Registered with AMFI as a Corporate Agent, Bonanza is also among the top
Mutual Fund mobilize with over Rs.10000 Corer under Management. Bonanza
Reality Services, which started in 2006, has quickly established itself as a broker
who adds value, in the Reality Sector. Bonanza Global offers niche of shoring
services to clients in the US.
Bonanza Comtrade, a member of NCDEX and MCX ranks among the top 3
Commodity Brokers in the Country.
Second Largest Depository participant in Country registered with NSDL and
CDSL.
Top 10 Stock Broker for last five year in terms of IPO procurement.
Amongst the top 10 Investment Bankers.
INDUSTRY PROFILE
SECURITIES MARKET-AN OVERVIEW
The definition of ‘Securities’ as per the Securities Contracts Regulation Act (SCRA),
1956, includes instruments such as shares, bonds, scrip, stocks or other marketable
securities of similar nature in or of any incorporate company or body corporate,
government securities, derivatives of securities, units of collective investment scheme,
interest and rights in securities, security receipt or any other instruments so declared by
the Central Government.
Securities Markets is a place where buyers and sellers of securities can enter into
transactions to purchase and sell shares, bonds, debentures etc. Further, it performs an
important role of enabling corporates, entrepreneurs to raise resources for their
companies and business ventures through public issues. Transfer of resources from those
having idle resources (investors) to others who have a need for them (corporates) is most
efficiently achieved through the securities market. Stated formally, securities markets
provide channels for reallocation of savings to investments and entrepreneurship. Savings
are linked to investments by a variety of intermediaries, through a range of financial
products, called ‘Securities’.
The securities one can invest in are given below:
Shares
Government Securities
Derivative products
Units of Mutual Funds etc., are some of the securities investors in the securities
market can invest in.
The responsibility for regulating the securities market is shared by Department of
Economic Affairs (DEA), Department of Company Affairs (DCA), Reserve Bank of
India (RBI) and Securities and Exchange Board of India (SEBI).
The absence of conditions of perfect competition in the securities market makes the role
of the Regulator extremely important. The regulator ensures that the market participants
behave in a desired manner so that securities market continues to be a major source of
finance for corporate and government and the interest of investors are protected.
ROLE OF SEBI IN SECURITIES MARKET
The Securities and Exchange Board of India (SEBI) is the regulatory authority in India
established under Section 3 of SEBI Act, 1992. SEBI Act, 1992 provides for
establishment of Securities and Exchange Board of India (SEBI) with statutory powers
for
(a) protecting the interests of investors in securities
(b) promoting the development of the securities market and
(c) regulating the securities market.
Its regulatory jurisdiction extends over corporates in the issuance of capital and transfer
of securities, in addition to all intermediaries and persons associated with securities
market. SEBI has been obligated to perform the aforesaid functions by such measures as
it thinks fit. In particular, it has powers for:
Regulating the business in stock exchanges and any other securities markets
Registering and regulating the working of stock brokers, sub–brokers etc.
Promoting and regulating self-regulatory organizations
Prohibiting fraudulent and unfair trade practices
Calling for information from, undertaking inspection, conducting inquiries and
audits of the stock exchanges, intermediaries, self –regulatory organizations,
mutual funds and other persons associated with the securities market.
PARTICIPANTS IN THE SECURITIES MARKET
The securities market essentially has three categories of participants, namely, the issuers
of securities, investors in securities and the intermediaries, such as merchant bankers,
brokers etc. While the corporates and government raise resources from the securities
market to meet their obligations, it is households that invest their savings in the securities
market.
It is advisable to conduct transactions through an intermediary. For example you need to
transact through a trading member of a stock exchange if you intend to buy or sell any
security on stock exchanges. You need to maintain an account with a depository if you
intend to hold securities in demat form. You need to deposit money with a banker to an
issue if you are subscribing to public issues. You get guidance if you are transacting
through an intermediary. Chose a SEBI registered intermediary, as he is accountable for
its activities. The list of registered intermediaries is available with exchanges, industry
associations etc.
SEGMENTS OF SECURITIES MARKET
The securities market has two interdependent segments: the primary (new issues) market
and the secondary market. The primary market provides the channel for sale of new
securities while the secondary market deals in securities previously issued.
PRIMARY MARKET
The primary market provides the channel for sale of new securities. Primary market
provides opportunity to issuers of securities; Government as well as corporates, to raise
resources to meet their requirements of investment and/or discharge some obligation.
They may issue the securities at face value, or at a discount/premium and these securities
may take a variety of forms such as equity, debt etc. They may issue the securities in
domestic market and/or international market.
SECONDARY MARKET
Secondary market refers to a market where securities are traded after being initially
offered to the public in the primary market and/or listed on the Stock Exchange. Majority
of the trading is done in the secondary market. Secondary market comprises of equity
markets and the debt markets.
ROLE OF THE SECONDARY MARKET
For the general investor, the secondary market provides an efficient platform for trading
of his securities. For the management of the company, Secondary equity markets serve as
a monitoring and control conduit—by facilitating value-enhancing control activities,
enabling implementation of incentive-based management contracts, and aggregating
information (via price discovery) that guides management decisions.
DIFFERENCE BETWEEN THE PRIMARY MARKET AND THE
SECONDARY MARKET
In the primary market, securities are offered to public for subscription for the purpose of
raising capital or fund. Secondary market is an equity trading venue in which already
existing/pre-issued securities are traded among investors. Secondary market could be
either auction or dealer market. While stock exchange is the part of an auction market,
Over-the-Counter (OTC) is a part of the dealer market.
GROWTH OF INDIAN CAPITAL MARKET
The Indian equity market has developed tremendously since the 1990s.The market has
grown exponentially in terms of resource mobilisation, number of listed stocks, market
capitalisation, trading volumes, turnover and investors’ base. Along with this growth, the
profiles of the investors, issuers and intermediaries have changed significantly. The
market has witnessed a fundamental institutional change resulting in drastic reduction in
transaction costs and significant improvement in efficiency, transparency and safety. In
the 1990s, reform measures initiated by the SEBI such as, market determined allocation
of resources, rolling settlement, sophisticated risk management and derivatives trading
have greatly improved the framework and efficiency of trading and settlement. Almost all
equity settlements take place at two depositories. As a result, the Indian capital market
has become qualitatively comparable to many developed markets.
Growth and Distribution of Turnover on Stock Exchanges
The trading volumes on stock exchanges have been witnessing phenomenal growth over
the past years. The trading volume, which peaked at Rs.28,809,900 million (US $
617,708 million) in 2000-01, posted a substantial fall of 68.91 % to Rs.8,958,180 million
(US $ 183,569 million) in 2001-02. However, from 2002-03 the trading volumes picked
up. It stood at Rs.9,689,098 million (US $ 203,981 million) in 2002-03 and further
witnessed a year-on-year increase of 67.29 % in 2003-04 standing at Rs.16,209,326
million (US $ 373,573 million). The upsurge continued and in 2006-07, the turnover
showed an increase of 21.40 % to Rs.29,014,715 million (US $ 665,628 million) from
Rs.23,901,030 million (US $ 535,777 million) in 2005-06. The relative importance of
various stock exchanges in the market has undergone dramatic changes over a decade.
The increase in turnover took place mostly at the big stock exchanges. The NSE yet again
registered as the market leader with 90.34 % of total turnover (volumes on all segment) in
2006-07. Top 2 stock exchanges accounted for 99.98% of turnover, while the rest 20
stock exchanges had negligible volumes during 2006-07
Market Capitalization and Turnover for Major Markets
The stock markets worldwide have grown in size as well as depth over the years. As can
be observed from , the turnover of all markets taken together have grown from US $
39.61 trillion in 2004 to US $ 67.91 trillion in 2006. It is significant to note that US alone
accounted for about 48.99 % of worldwide turnover in 2006. Despite having a large
number of companies listed on its exchanges, India accounted for a meager 0.94% in total
world turnover in 2006. The market capitalization of all listed companies taken together
on all markets stood at US $ 54.19 trillion in 2006 (US $ 43.68 trillion in 2005). The
share of US in worldwide market capitalization decreased from 38.85 % as at end-2004
to 35.84 % as at end 2006, while Indian listed companies accounted for 1.51% of total
market capitalization in 2006.
MAJOR PLAYERS IN SECURITIES MARKRT
Motilal Oswal Securities
Sharekhan
Bonanza stock Broking
Religare
Anand Rathi Securities
Indiabulls
ICICI direct.com
Kotak Securities
HDFC Securities
Reliance Money Stock Trading
Angel Broking
CONTENTS
Sl. No. Chapter Page No.
1 Research Problem and it’s Background
2 Objectives and Scope
3 Research Methodology
4 Review of Literature
5 Data Presentation and Analysis
6 Findings and Conclusion
7 Recommendations
8 Annexure
9 References
RESEARCH PROBLEM AND ITS BACKGROUND
A research was conducted to study & understand the importance of online share trading
& compare broker charges provided by different companies and the process applied by
them.
Today in the competitive and busy life schedule, people are not getting some time even to
spend with their families so how can they think to give 5 to 6 hrs in documentation,
market watch, transaction (money/securities) for trading purpose. This is the main reason
why many of people were not able to trade in stock market even if they have capital and
interest in stock market.
The trading on stock exchanges in India used to take place through open outcry without
use of information technology for immediate matching or recording of trades. This was
time consuming and inefficient. This imposed limits on trading volumes and efficiency.
In order to provide efficiency, liquidity and transparency, NSE introduced a nation-wide
on-line fully-automated screen based trading system (SBTS) where a member can punch
into the computer quantities of securities and the prices at which he likes to transact and
the transaction is executed as soon as it finds a matching sale or buy order from a counter
party. SBTS electronically matches orders on a strict price/time priority and hence cuts
down on time, cost and risk of error, as well as on fraud resulting in improved operational
efficiency. It allows faster incorporation of price sensitive information into prevailing
prices, thus increasing the informational efficiency of markets. It enables market
participants, irrespective of their geographical locations, to trade with one another
simultaneously, improving the depth and liquidity of the market. It provides full
anonymity by accepting orders, big or small, from members without revealing their
identity, thus providing equal access to everybody. It also provides a perfect audit trail,
which helps to resolve disputes by logging in the trade execution process in entirety. This
sucked liquidity from other exchanges and in the very first year of its operation, NSE
became the leading stock exchange in the country, impacting the fortunes of other
exchanges and forcing them to adopt SBTS also.
Today India can boast that almost 100% trading take place through electronic order
matching.
The SBTS has made the stock trading easy but still there is a big amount of people who
are unaware of online trading. They don’t know about the “DMAT Account”. Some
people who know little about the SBTS and DMAT Accounts are not in the position to
decide that from where they should do the trading. People are not in the position to know
the current status of the market because of unavailability of the resources like internet and
other necessary facility. There are companies which are providing the services to the
customers but it is difficult to decide that which company is to be chosen among them.
The topic has been chosen after considering all these points the research will help in
providing the results of awareness about the online trading and the comparison of the
services of companies will also help in choosing better service provider.
OBJECTIVE OF THE STUDY
Bonanza consultants have been in business for about the past 25 years and were one of
the pioneers of the financial investment field, but with time many other firms came into
the picture. Thus one of the objectives of this project is to analyze the various competitors
in the market of online services in capital market. Also compare the major service
providers on various parameters.
The aim of this research study is to study the awareness and interest among prospective
customer of online share trading services.
PRIMARY OBJECTIVES:
1. To compare the Brokerage of online share trading providers
2. To study the customer satisfaction on the basis of features of online trading that is
being provided by Bonanza Stock Broking
3. To help the customers of Bonanza Stock Broking to understand the concept of
online trading.
4. To study various concepts in Capital Market
5. To construct strong customer base for Bonanza Stock Broking.
SECONDARY OBJECTIVES:
1. To promote the product of Bonanza stock Broking.
2. To create awareness about the Bonanza Stock Broking.
3. To enhance knowledge of share trading
4. To actively participate in the share trading
5. To increase the knowledge of securities analyses
SCOPE OF THE STUDY
In today’s modernized banking, technology plays a very major & important role. A
technology make banking more convenient without investing more in infrastructure and
thus cuts down the cost simultaneously. It also helps the bank to make its presence felt in
any particular area.
This topic was chosen by me to study the compare the online share trading .The data
required for this stage was regarding the detail study of Online share Trading. i.e. study
what is the impact of online share trading in the current scenario of share market.
Identifying the prospects clients for Bonanza porfolio. Also to get some idea about the
image of Bonanza portfolio in the minds of the existing customers. The behavior and
perception of the existing customers towards the products and services provided by the
Bonanza Stock Broking was also studied so that it could give a clear picture of the
Bonanza Stock Broking positioning in the minds of the customers and what Bonanza
Stock Broking is doing different to maintain good customer base & create new customers
in the competitive scenario of online share trading as many companies are providing such
services
RESEARCH METHODOLOGY
I have collected the data both from Primary as well as Secondary resources. Most of the
Primary data in my research was collected through direct interaction to the clients &
direct visit to IT Park, shops. The methodology used for the study was very rigorous.
Questionnaires were made, interviews with customers were held and various books and
websites were checked for any type of information related to the study. Random selection
procedure was used and a sample of 100 customers was taken. The methodology so
applied is briefly discussed below step-by step.
1. SOURCES OF DATA COLLECTION
PRIMARY DATA SOURCE:
The data required for this stage was regarding the behavior and perception of the existing
customers towards the online trading service providers. The data could have been
collected by just interviewing the customers but to get a reasonable conclusion and fair
accuracy, questionnaires were prepared and customers were interviewed. Though the
primary source was not enough for the study but it did give some accurate conclusions.
The above questions were really helpful in the conclusion part of the study. Some
customers were very cooperative but some didn’t even care to listen. Overall, the study
was a success as far as primary source was concerned.
SECONDARY SOURCE:
The secondary data was collected with the help of various books, websites, bank and
employees of the company. The data collected from the websites and books was good
enough to be included in the study analyzed and concluded but the data got from the
employees of the Company was most accurate and reliable. Various newspapers,
Company magazines, websites , etc were checked out for information.
2. SAMPLE SIZE
Random sampling was chosen as the sample selection procedure. The sample size was
100 people. They were interviewed individually and asked to fill the questionnaires.
On the whole, such methodology was adopted that would give accurate results and the
study be a success.
3. RESEARCH INSTRUMENT
The research instrument used in the study is a questionnaire. Field survey was carried out
and the responses received were recorded
4. DURATION OF THE PROJECT:
The duration of the project was of two months, starting from the 1 st of June to the 31 st of
July, 2009.
REVIEW OF LITERATURE
Traditionally, settlement system on Indian stock exchanges gave rise to settlement risk
due to the time that elapsed before trades were settled by physical movement of
certificates. There were two aspects: First relating to settlement of trade in stock
exchanges by delivery of shares by the seller and payment by the buyer. The stock
exchange aggregated trades over a period of time and carried out net settlement through
the physical delivery of securities. The process of physically moving the securities from
the seller to his broker to Clearing Corporation to the buyer’s broker and finally to the
buyer took time with the risk of delay somewhere along the chain. The second aspect
related to transfer of shares in favour of the purchaser by the issuer. This system of
transfer of ownership was grossly inefficient as every transfer involved the physical
movement of paper securities to the issuer for registration, with the change of ownership
being evidenced by an endorsement on the security certificate. In many cases the process
of transfer took much longer than the two months as stipulated in the Companies Act, and
a significant proportion of transactions wound up as bad delivery due to faulty
compliance of paper work. Theft, mutilation of certificates and other irregularities were
rampant, and in addition the issuer had the right to refuse the transfer of a security. Thus
the buyer did not get good title of the securities after parting with good money. All this
added to the costs and delays in settlement, restricted liquidity and made investor
grievance redressal time-consuming and at times intractable. To obviate these problems,
the Depositories Act, 1996 was passed to provide for the establishment of depositories in
securities with the objective of ensuring free transferability of securities with speed,
accuracy and security by (a) making securities of public limited companies freely
transferable subject to certain exceptions;
(b) Dematerializing the securities in the depository mode; and
(c) Providing for maintenance of ownership records in a book entry form.
In order to streamline both the stages of settlement process, the Depositories Act
envisages transfer of ownership of securities electronically by book entry without making
the securities move from person to person. The Act has made the securities of all public
limited companies freely transferable by restricting the company’s right to use discretion
in effecting the transfer of securities, and dispensing with the transfer deed and other
procedural requirements under the Companies Act. A depository holds securities in
dematerialized form. It maintains ownership records of securities and effects transfer of
ownership through book entry. By fiction of law, it is the registered owner of the
securities held with it with the limited purpose of effecting transfer of ownership at the
behest of the owner. The name of the depository appears in the records of the issuer as
registered owner of securities. The name of actual owner appears in the records of the
depository as beneficial owner. The beneficial owner has all the rights and liabilities
associated with the securities. The owner of securities intending to avail of depository
services opens an account with a depository through a depository participant (DP). The
securities are transferred from one account to another through book entry only on
the instructions of the beneficial owner. In order to promote dematerialisation of
securities, NSE joined hands with leading financial institutions to establish the National
Securities Depository Ltd. (NSDL), the first depository in the country, with the objective
of enhancing the efficiency in settlement systems as also to reduce the menace of
fake/forged and stolen securities. This has ushered in an era of dematerialised trading and
settlement. SEBI has made dematerialised settlement mandatory in an ever-increasing
number of securities in a phased manner, thus bringing about an increase in the
proportion of shares delivered in dematerialised form. There is an increasing preference
to settle trades, particularly in high value securities, in demat form. Such high level of
Demat settlement reassures success of rolling settlement. CDSL was set up in February,
1999 to provide depository services. All leading stock exchanges like the National Stock
Exchange, Calcutta Stock Exchange, Delhi Stock Exchange, The Stock Exchange,
Ahmadabad, etc have established connectivity with CDSL.
Technology was used to carry the trading platform from the trading hall of stock
exchanges to the premises of brokers. NSE carried the trading platform further to the PCs
at the residence of investors through the Internet and to handheld devices through WAP
for convenience of mobile investors. This made a huge difference in terms of equal
access to investors in a geographically vast country like India. The trading network is
depicted in Figure 1.1. NSE has main computer which is connected through Very Small
Aperture Terminal (VSAT) installed at its office. The main computer runs on a fault
tolerant STRATUS mainframe computer at the Exchange. Brokers have terminals
(identified as the PCs in the Figure 1) installed at their premises which are connected
through VSATs/leased lines/modems. An investor informs a broker to place an order on
his behalf. The broker enters the order through his PC, which runs under Windows NT
and sends signal to the Satellite via VSAT/leased line/modem. The signal is directed to
mainframe
Trading Network
NSE MAINFRAME Broker's premises computer at NSE via VSAT at NSE's office. A
message relating to the order activity is broadcast to the respective member.
MEANING AND FUNCTION OF ONLINE TRADING:
There is nothing more exciting and more rewarding than making the right trade at the
right time. Go Trade – online Stock broking platform of Bonanza provides you with a
unique, completely secure means of online trading –anyplace, anytime. Trading of shares
is now in your hands along with the comfort of sitting at home or in your office. Visits to
brokers are a thing of the past. Enjoy the convenience of online trading through a fully
secure, packed with facilities and a trusted E-Broking platform.
Online Trading is a service offered on the Internet for purchase and sale of shares. In the
real world, you place orders on your stockbroker either verbally (personally or
telephonically) or in a written form (fax). In Online Trading, you will access a
stockbroker's website through your internet-enabled PC and place orders through the
broker's internet-based trading engine. These orders are routed to the Stock Exchange
without manual intervention and executed thereon in a matter of a few seconds.
Many companies have used the Internet to increase their reach to bring the convenience
and access to the doorstep of the customers. Financial service sector was no different. E-
brokers have used the net lubricant the entire investment process so as to speed up and
increase the reach of e-broking services. Online trading is essentially an extension of e-
shopping experience.
Online trading system known as National Exchange For Automated Trading (NEAT)
system, is an online, fully automated nationwide, anonymous, order driven, screen based
trading system where a number can punch into the computer quantities of securities and
the prices at which he likes to transact and the transaction is executed as soon as it finds
matching sale or buy order from a counter party. It electronically matches order a strict
price/time priority and hence, cuts down on time, cost and risk of error, as well as on
fraud resulting in improved operational efficiency. It provides tremendous flexibility to
the users in terms of kinds or orders (Good-Till-Can-Till-Day, Immediate-or-cancel,
Limit Stop-loss) that can be placed on the system.
E-Broking
E-broking is short for “Electronic Broking”. It is a means of buying and selling shares
on the stock exchange electronically i.e. through the Internet. E-broking has been able to
deliver its purpose of making investment process a fast, simple, and hassle free
experience for the investor.
The speed of transaction, confidentiality about the prices and ease of settlement in the
paperless mode should be good reason for the retail investor to jump on to the net. All
they need is a personal computer, a modem, a subscription to an ISP, an account with a
bank (which has a Web presence) depository accounts. And they can choose from a
plethora of e-trading website.
With the online trading where the basic requirements are a personal computer and a
modem, one could log on to an online analytical tool and pass on once instructions to the
friendly online broker .The rest of the weekend can be passed on to enjoy.
Online trading really is the perfect combination of the medium of the net catering to real
life concept. Given the trading is all about having, access to multiple information sources,
from the company’s performance to the industrial and economical scenarios, as well as
processing the analytical tools to process this information .The net really is the relevant
factor to enable an informed investment is what online trading is all about, and that too
really cheaply to the user.
SEVERAL TERMS USED IN ONLINE SHARE TRADING
1. DEMAT A/C - This is the account where dematerialization takes place.
Dematerialization is the process by which physical securities of an investor are converted
to an equivalent number of securities in electronic form and credited in to the investor’s
account with his/her DP.
2. DEPOSITORY -A depository is like a bank wherein the deposits are Securities (viz.,
shares, Debentures, bonds, government securities, units Etc) in electronic form. Besides
holding securities, a depository also provides services related to transactions in securities.
3. DP (DEPOSITORY PARTICIPANT) –
Depository provides its services to Investors through its agents called as depository
participant (DP’s). These Agents are appointed by the depository with the approval
amongst Others, three categories of entities i.e. Banks, Financial inst’s and members of
stock exchanges registered with SEBI can become DP’s.
Ex. Bonanzaonline.com
ICICIdirect.com
Sharekhan.com
4. SAVING A/C - This the regular bank saving A/C linked to D-Mat A/C and Online
Trading A/C. Required amount of money is used for trading from Saving A/C.
5. ONLINE TRADING A/C - This is the account through which actual trading i.e.
buying and selling takes place. In Online Share Trading Accounts all these three accounts
are interlinked.
Demat A/c
Saving A/c Trading A/c
TRANSACTION CYCLE:
The trades executed each trading day are considered as a trading period and trades
executed during the day are settled based on the net obligations for the day.
At NSE, trades in rolling settlement are settled on a T+2 basis i.e. on the 2nd
working day. Typically trades taking place on Monday are settled on Wednesday,
Tuesday's trades settled on Thursday and so on.
DOCUMENTS REQUIREMENT GIVEN BELOW:
1. 4 Color photos
2. Pan card copy
3. Address Proof - (Photocopy) - MSEB BILL, Telephone Bill - Latest
4. Cancelled Ch. of you’re saving A/C. (UTI BANK LTD)
5. Xerox copy of saving Accounts pass Book 1st page & last 3 months
6. Xerox copy of latest Demat's holding statement (HDFC BANK)
VARIOUS CHARGES*
Online Trading Account Charges Rs. 450/- (One Time Charge)
Including software Charges
Brokerage - Intraday 0.05%
Delivery 0.5%
F&O 0.05%
*Excluding Tax
ADVANTAGES OF BONANZA E-BROKING
National Network of over 500 branches
Member of NSE, BSE
Personalized Services
Backed by Research
Facility to put orders through live screen
Alerts
Trading Workshops & seminars
Latest Technology implemented
Powerful Risk-Management system
NSE (Cash & F&O), BSE (Cash) on the same screen
Secure Transaction authentication based model
Online reports and contract notes
Online transfer of cash & stocks
Tie-up with major banks for account facilities
Competitive brokerage
Any existing Demat Account can be used. No need for opening a new Demat
Invest in the forthcoming IPO’s in a completely hassle-free way.
Make informed decisions with expert advice invest. Calls & live market
commentary.
FEATURES
Bonanza would also assist the in financial planning. Bonanza, being a major
player in financial field can handle this responsibility very effectively.
Bonanza would provide a dedicated Relationship Manager to handle the queries.
Bonanza would also assist in all types of investments. Any employee of Bonanza
willing to invest in any MF, IPO’s, Insurance, etc would just need to give a call to
the Relationship Manager and the requirement would be taken care of at the office
itself. This would save a lot of time and energy of the employees.
Bonanza would assist you in managing your complete investment and financial
portfolio.
Online risk exposure calculation.
Mark to Market Alert for loss position.
Receivables and Payables statements for stock & Cash.
Cash & Delivery Alert.
DATA PRESENTATION AND ANALYSIS
The responses were collected by way of survey through questionnaire which is based on
the following parameters.
Cost:
Cost includes cost of trading, i.e. brokerage, d-mat charges, stamp duties, STT
(Securities Transaction Tax), and surcharges, online software charges.
Speed:
It refers to speed of accessing the quotes (i.e. real time price of individual
company’s shares). Brokers has their own terminal where they get quotes whereas
Bonanza Stock Brokering provides them on client’s terminal through Internet .
Control:
It refers to control over price. i.e. a price at which investor wants to buy / sell
and can wait till they get desired price for their trade.
Information:
It is the most important aspect of share trading. Proper and exact information
helps investors to take decisions. Rumours and unconfirmed information may lead to
losses. Bonanza Stock Brokering provides a lot of information on companies. Also
provides indices, price history, experts views, etc.
Convenience:
Convenience in trading refers to how client can place orders. How can they verify their
orders? From where can they place their orders?
In short it refers to ease of trading without hassles of writing cheque, delivery instruction
notes, difficulty in accessing without trading hours, etc.
Trust:
Trust cannot be built in a single day. It takes time to have track record and goodwill.
Bonanza Stock Brokering25year create goodwill every know. There are brokers who deal
in shares from decades. It’s the investor who is to decide with whom he/ she wants to
deal.
Independence:
Independence of transferring money, demat a/c and bank a/c Bonanza Stock Brokering
provides 3 - in - 1 account, which integrates bank a/c, broking a/c and demat a/c.
Security:
Security refers to security of shares and funds. Bonanza Stock Brokering can be
operated independently and all the shares are directly transferred to demat account and
funds are also transferred from bank a/c. Client is given with the password through which
he/she enters on to trading page. Brokers have access to clients trading a/c and every
order is executed through brokers.
Service:
Service refers to the service provided by the companies to their clients regarding
the different types like Call center, Demonstrations, Call N Trade etc.
Paperwork:
Writing cheque for buy orders, delivery instruction notes for sell orders,
Receiving and depositing cheque with bank for the amount they get through trading, etc
Involves paperwork. Bonanza Stock Brokering has eliminated all this by providing
service through online.
Questionnaire is so designed that each of the above parameter is addressed clearly. the
language of questionnaire is maintained as simple as possible. It was a guided survey
where in if any question is not understood, respondents are guided to clear the purpose
of question .
All the question in the questionnaire is close ended .This is because it takes very little
time to give responses without any confusion.
COST
BONANZA Online ( % ) Brokers ( % )
Trough which channel cost of trading is high.
62 38
Cost
1. Respondents have given 62 % of weightage for Bonanza Online Trading and 38
% to Brokers. The normal charges for the delivery based trading comes to 0.5% of
total values whereas in case of other brokers it ranges from 0.75% to 1.00%.
SPEED
BONANZA Online ( % ) Brokers ( % )
Who provides better speed of accessing quotes.
51 49
Speed
2. There is not much difference found in speed of accessing quotes in both the cases.
But from interaction we found that the quotes were not available as quickly as it
appeared on Bonanza Online Trading. 51% responses were in favour of Bonanza
Online Trading and 49% with other online stock brokers.
INFORMATION
BONANZA Online ( % ) Brokers ( % )
Who provides better, sufficient & Reliable information.
65 35
Information
3. It is the most important aspect of share trading. Proper and exact information
helps investors to take decisions. Rumors and unconfirmed information may lead
to losses. Bonanza stock broking provides a lot of information on companies.
Also provides indices , price history , experts views, etc.
CONVENIENCE
BONANZA Online ( % )
Brokers ( % )
With whom trading is most convenient.
67 33
Convenience
4. Convenience in trading refers to how client can place orders. How can they verify
their orders? From where can they place their orders?
In short it refers to ease of trading without hassles of writing cheque, delivery
Instruction
notes, difficulty in accessing without trading hours, etc.
TRUST
BONANZA Online ( % ) Brokers ( % )
Whom do you trust most. 55 45
Trust
5. Reliability/Trust factor plays vital role when it comes to money. The brand name
of Bonanza stock Broking has its added advantage when it comes to trust factor.
People are ready to pay more for brands, which is associated with trust. From our
observation we have found that 55% were in favor of Bonanza stock Broking.
SERVICE
BONANZA Online ( % ) Brokers ( % )
Who provides better service.
54 46
Service
6. Service refers to the service provided by the companies to their clients regarding
the different types like Call center, Demonstrations, CallNTrade etc.
.
SECURITY
BONANZA Online ( % ) Brokers ( % )
Who provides best secured services.
79 21
Security
7. Security refers to security of shares and funds. Bonanza stock Broking can be
operated independently and all the shares are directly transferred to demat account
and funds are also transferred from bank a/c. Client is given with the password
through which he/she enters on to trading page. Brokers have access to clients
trading a/c and every order is executed through brokers. security of shares, funds
were found more in Bonanza stock Broking than broker. 79%favoured Bonanza
stock Broking and remaining 21% favored brokers.
PAPERWORK
BONANZA Online ( % ) Brokers ( % )
With whom hustle of paperwork is minimum.
72 28
Paperwork
8. Paper work involved before opening demat account was found to be more tedious
in case of Bonanza stock Broking as one has to sign about 40 signatures and
going through these papers was found to be more hectic.72% agreed that there is
no paper work involved in Bonanza stock Broking and still 28% found it is not so
tedious job and favored brokers.
OVERALL
BONANZA Online ( % ) Brokers ( % )
From overall point of view which one is best
56 44
Overall
9. Overall Bonanza stock Broking has scored 56% whereas brokers scored 44%.this
states that both Bonanza stock Broking and brokers were not fare away from each
others. There are people who like Bonanza stock Broking and there are people
who like brokers. Both of them have their own advantages as well as
disadvantages. They both comparatively stand near to each other in the minds of
the investors.
FINDINGS AND CONCLUSIONS
From the data available through survey we found the following information
Approximately 90% found to be aware of online trading of securities.
Newspaper and Magazine are found to be a major source of information.
Bonanza Stock Broking is found to be most popular among all general people.
Also people are well aware of various providers like ICICI direct, Share Khan,
Kotak, HDFC securities. Professionals and Executive category people are found
to be in favour of the system. They showed interest in going online.
Approximately 40% people said that they have visited at least one of the websites.
Control over price is referred as advantageous to respondents as they can be
assured that they have in fact placed an order at the price they always wanted for
but they have been able to do till now. There by giving control over their own
trades.
Convenience was most beneficial factor that has been observed in Bonanza Stock
Broking A unique 3-in-1 account integrates saving, broking and demat accounts.
Reliability/Trust factor plays vital role when it comes to money. The brand name
of Bonanza Stock Broking has its added advantage when it comes to trust factor.
People are ready to pay more for brands, which is associated with trust. From our
observation we have found that 55% were in favour of online Trading.
Paper work involved before opening demat account was found to be more tedious
in case of Bonanza Stock Broking as one has to sign about 40 signatures and
going through these papers was found to be more hectic.
COMPARISON TABLE
Parameters Bonanza Religare Anand
Rathi
Kotak ICICI Sharekhan Karvy
1.D-mat Charges Rs:500/- Rs:500/- Rs:436/- Rs:750/- Rs:750/- Rs:49/- Rs:750/-
2.Online software
Charge
Rs:450/- Rs:2400/- Rs:736/- Nil Nil Nil Rs:1800/-
3.Intraday Charges 0.05% 0.075% 0.10% 0.05% 0.10% 0.10% 0.075%
4.Delivery Based
Trading
0.5% 0.50% 0.50% 0.5% 0.75% 0.50% 0.50%
5.F&O 0.05% 0.075% 0.10% 0.05% 0.10% 0.10% 0.075%
6.Charges to
Maintain D-mat a/c
Nil Nil Nil Rs:750PA Rs:750PA Rs:300 PA Nil
7.Intraday for buy
Margin Limit
10 times
of amount
10 times
of amount
10 times
of amount
8 times of
amount
8 times of
amount
4 times of
amount
8 times of
amount
8.Buy/sell Order
Closed
3.30 pm 3.30 pm 3.30 pm 3.30 pm 2.30pm 3.30 pm 3.30 pm
SUGGESTIONS OR RECOMMENDATIONS
The information gathered by way of survey through questionnaire shows that
Bonanza Stock Broking is mostly selected because of convenience, trust, service,
independence and speed. Overall it has been observed that apart from Bonanza Stock
Broking, ICICI Direct.com, HDFC & KOTAK are favorite.
Bonanza Stock Broking should make an arrangement for online chatting with
experts for accessing information and suggestions for investments.
Bonanza Stock Broking should arrange for more and more counseling meet with
their clients at various places to assist them to understand online trading is very
comprehensive site having various kinds of information which clients are not
aware of.
Bonanza Stock Broking should give more and more personalized services to their
clients like toll free SMS alerts on mobile and tips through emails.
Bonanza Stock Broking should increase the trade branches so that investors can
go to clear their doubts and queries.
Anyhow Bonanza Stock Broking is one of the organizations trusted by
millions, with good brand image. This factor is one of the reasons along with others
that are making its product to sell fast in the market.
ANNEXURE:
LIMITATIONS
The study was conducted with in pune. So findings are restricted to these regions
only.
The method used in this project for collecting the information is very time
consuming and slow.
Due to lack of time some respondents were reluctant to give detailed information.
The major limitation was some of the Bank’s customers were not at all co-
operative.
The analysis cannot be completely relied, as there were few customers who didn’t
take the questionnaire seriously and checked any option they liked.
On the whole, the scope was more than the limitations of the study
References
Books:
Bonanza The Finapolis a monthly magazine.
Capital Market Book of NSE’s
Share Market book of Gopal Galgali
Research Methodology by C.R. Kothari, 5th edition, 2002.
S.Chand Publications, Pages 212-250.
Websites: www.Bonanza online.com
www.gotx.Bonanza.com
www.google.com
www.sharekhan.com
www.icicidirect.com
www.indiabulls.com
www.hdfcsec.com
www.moneycontrol.com
www.kotaksecurities.com
www.nseindia.com
www.bseindia.com
Questionnaire
Respondent’s Personal details:
Name of Respondent:
Contact No:
Instructions to fill questionnaire:
1. Please put a tick mark as your choice.
2. Don’t put two tick marks for the same question
3. Clarify the question from the surveyor before you pick a tick.
4. Please give genuine responses so that we can take appropriate steps to improve our
service if needed.
Questions:
1. Cost of trading is high in case of:
a. Bonanza Online Trading
b. Brokers
2. Speed of accessing quotes is good in:
a. Bonanza Online Trading
b. Brokers
3. You are in control of price while trading with:
a. Bonanza Online Trading
b. Brokers
4. Sufficient information is available with:
a. Bonanza Online Trading
b. Brokers
5. Trading is convenient with:
a. Bonanza Online Trading
b. Brokers
6. Trust factor plays vital role in:
a. Bonanza Online Trading
b. Brokers
7. You are more independent with:
a. Bonanza Online Trading
b. Brokers
8. You feel secured or Comfortable while trading:
a. Bonanza Online Trading
b. Brokers
9. Paper worked involved is more in:
a. Bonanza Online Trading
b. Brokers
10. From overall point of view which one you prefer
a. Bonanza Online Trading
b. Brokers
BONANZA gotx SCREEN
The Trader Workstation screen of the trading member is divided into the following
windows:
Title bar: It displays trading system name i.e. gotx, the date and the current time.
Ticker Window: The ticker displays information of all trades in the system as and when
it takes place. The user has the option of selecting the securities that should appear in the
ticker. Securities in ticker can be selected for each market type. On the extreme right
hand of the ticker is the on-line index window that displays the current index value of
NSE indices namely S&P CNX Nifty, S&P CNX Defty, CNX Nifty Junior, S&P
CNX500 and CNX Midcap 200. The user can scroll within these indices and view the
index values respectively. Index point change with reference to the previous close is
displayed along with the current index value. The difference between the previous close
index value and the current index value becomes zero when the Nifty closing index is
computed for the day. The ticker window displays securities of both derivatives and
capital market segments. The ticker selection facility is confined to the securities of
capital market segment only. The first ticker window, by default, displays all the
derivatives contracts traded in the Futures and Options segment.
Tool Bar: The toolbar has functional buttons which can be used with the mouse for quick
access to various functions such as Buy Order Entry, Sell Order Entry, Market By Price
(MBP), Previous Trades (PT), Outstanding Order (OO), Activity Log (AL), Order Status
(OS), Market Watch (MW), Snap Quote (SQ), Market Movement (MM), Market Inquiry
(MI), Auction Inquiry (AI), Order Modification (OM), Order Cancellation (OCXL),
Security List, Net Position, Online Backup, Supplementary Menu, Index Inquiry, Index
Broadcast and Help. All these functions are also accessible through the keyboard.
Market Watch Window: The Market Watch window is the main area of focus for a
trading member. This screen allows continuous monitoring of the securities that are of
specific interest to the user. It displays trading information for the selected securities.
Inquiry Window: This screen enables the user to view information such as Market By
Price (MBP), Previous Trades (PT), Outstanding Orders (OO), Activity Log (AL) and so
on. Relevant information for the selected security can be viewed.
Snap Quote: The snap quote feature allows a trading member to get instantaneous
market information on any desired security. This is normally used for securities that are
not already set in the Market Watch window. The information presented is the same as
that of the Marker Watch window.
Order/Trade Window: This window enables the user to enter/modify/cancel orders and
for also to send request for trade cancellation and modification.
Message Window: This enables the user to view messages broadcast by the Exchange
such as corporate actions, any market news, auctions related information etc. and other
messages like order confirmation, order modification, order cancellation, orders which
have resulted in quantity freezes/price freezes and the Exchange action on them, trade
confirmation, trade cancellation/modification requests and Exchange action on them,
name and time when the user logs in/logs off from the system, messages specific to the
trading member, etc. These messages appear as and when the event takes place in a
chronological order.
Inquiry Screen
Market Watch
The Market Watch window is the third window from the top of the screen that is always
visible to the user. The Market Watch is the focal area for users. The purpose of Market
Watch is to setup and view trading details of securities that are of interest to users. For
each security in the Market Watch, market information is dynamically updated.
The blue colour indicates that price/quantities have improved, while the red
colour indicates that the price/quantities have worsened. If the last traded price is better
than the previous last traded price then the indicator `+' appears or if the last traded price
is worse than the previous last traded price then the indicator `-' appears. If there is no
change in the last traded price, no indicator is displayed. One of the best features of this
software is that the user has the facility to set up 500 securities in the market watch. The
user can set up a maximum of 30 securities in one page of the market watch screen.
Market Watch setup can be sorted alphabetically.
Multiple Index Broadcast and Graph
This screen displays information of NSE indices namely S&P CNX Nifty, S&P
CNX Defty, CNX Nifty Junior, S&P CNX 500 and CNX Midcap 200. The indices are
labeled vertically and the information is displayed against each index horizontally. The
data displayed for each index is as follows:
- Current Index
- High Index
- Low Index
- Open Index
- Close Index
- % change in Current Index (w.r.t. previous close index)
- 52 week High
- 52 week low
- Up Moves
- Down Moves
- Market Capitalization (in Rs. Lakh)
This information is displayed on-line for S&P CNX Nifty, S&P CNX Defty, CNX
Nifty Junior, S&P CNX 500 and CNX Midcap 200. Index Graph displays all the indices
on a real time basis to the market.
Market By Price
The purpose of Market By Price (MBP) is to enable the user to view outstanding orders
in the market aggregated at each price and are displayed in order of best prices. The fields
that are available on the selection screen are Symbol, Series and Book Type. The options
available in the book type field are Regular Lot and RETDEBT. Buy orders are displayed
on the left side of the window and sell orders on the right. The orders appear in a
price/time priority with the "best priced" order at the top. When any Regular Lot
information, currently displayed on the window, is changed (for example as the result of
a trade), this information is automatically reflected in the MBP i.e. dynamic updation of
MBP screen is present. All buyback orders are identified by an ‘*’ in the MBP screen. In
case a buyback order appears in the best orders in the MBP an ‘*’ will precede such an
order record.
Special Features of MBP
1. Regular lot & special term orders can be viewed in the MBP.
2. The status of a security is indicated in this screen. 'P' indicates that the security is
in the pre-open phase and 'S' indicates that the security is suspended.
3. The percentage change for last trade price with respect to previous day's closing
price and the average trade price of the security in the given market are the
additional fields in the screen.
4. No untriggered stop-loss order will be displayed on the MBP screen.
5. Only orders for the best 5 prices, information is displayed.
BUY/SELL ORDER ENTRY
Entering Orders
The trading member can enter orders in the normal market, odd lot, RETDEBT and
auction market. A user can place orders in any of the above mentioned markets by
invoking the respective order entry screens. After doing so, the system automatically
picks up information from the last invoked screen (e.g. Market Watch/MBP/OO/SQ and
Security List). When the user invokes the order entry screen, the fields that are taken as
default are Symbol, Series and Book Type. In case of other fields, the system takes the
following defaults:
Qty : Regular lot quantity available at best price on counter side
Price : Price of best counter order
Pro : Trading member ID of the user
Order Duration : Day
Disclosed quantity : Fully Disclosed
Participant ID : Trading member ID of the user
The orders are listed on the basis of price/time priority.
The trading system operates on a strict price time priority. All orders received on the
system are sorted with the best priced order getting the first priority for matching i.e., the
best buy orders match with the best sell order. Similar priced orders are sorted on time
priority basis, i.e. the one that came in early gets priority over the later one. Orders are
matched automatically by the computer keeping the system transparent, objective and
fair. Where an order does not find a match, it remains in the system and is displayed to
the whole market, till a fresh order comes in or the earlier order is cancelled or modified.
The trading system provides tremendous flexibility to the users in terms of kinds of
orders that can be placed on the system. Several time-related (good till cancelled, good
till day, immediate or cancel), price-related (buy/sell limit and stop loss orders) or
volume related (all or none, minimum fill, etc) conditions can be easily built into an
order. The trading system also provides complete market information on-line. The market
screens at any point of time provide complete information on total order depth in a
security, the five best buys and sells available in the market, the quantity traded during
the day in that security, the high and the low, the last traded price, etc. orders screen is
split into First Line and Detail Line. The first line contains Symbol, Series, Market Type,
Security Status, Label, Current Time and Current Date. The detail line contains Book
Type, User Id, Client A/C Number, Order Number, Order Quantity Pending and Order
Price.
TRADE BOOK
When an order is traded the trade appears in the trade book for each trade the quantity
executed and average trade prices are displayed. A trade is an activity in which a buy and
a sell order match with each other. Matching of two orders is done automatically by the
system. Whenever a trade takes place, the system sends a trade confirmation message to
each of the users involved in the trade. The trade confirmation slip gets printed at the
trader workstation of the user with a unique trade number. The system also broadcasts a
Message to the entire market through the ticker window displaying the details of the
trade. This section describes trade-related activities like viewing the trades, trade
modification/cancellation, etc.
STOCK TRANSFER
You can transfer stocks between your collateral and D-mat accounts are also available for
withdrawal to an external DP account. In this case you will have to provide a DP account
to which the stocks need to be transferred.
EQUITY NET POSITION REPORT
The user can interactively view his net position across securities. The Net Position screen
displays Symbol, Series, Buy Value (in lacs), Buy Qty, Buy Avg Price, Sell Avg Price,
Sell Qty, Sell Value (in lacs), Net Qty and Net Value (in lacs). It also displays the Grand
Total of Buy Value (in lacs), Buy Qty, Sell Qty, Sell Value (in lacs), Net Value (in lacs)
and Net Value Mark to Market (in lacs). Net position screen displays the Net Mark to
market value scrip wise as well as total net mark to market value.
EQUITY MARGINS
The equity margin screen show stock information, buy trade position i.e. buy quantity
buy value, sell trade position i.e. sell quantity, sell value, buy pending order position, sell
pending order position, and margin information.
