BSE launches webx.com for online trading

Rashida Bakait

MUMBAI: The Bombay Stock Exchange (BSE) has launched webx.com, the world’s

first Internet enabled exchange, in Mumbai.

BSE’s webx.com, started with an investment of around Rs 15 crore, aims to

reinforce the leadership position of Mumbai in the stock exchange. It also aims

at providing end-to-end capital market services under one roof viz., content,

wired and wireless Internet trading and payment and depositary interfaces.

webx.com has a wider scope as it provides Web hosting for members and

information and content to investors directly from the BSE India Web site.

More than 190 brokers are expected to join the list by the end of February

2001. But to carry online trading, the broker has to register with the site by

paying registration fees of around Rs 50,000 and a monthly fee of Rs 5,000. The

BSE also charges the broker a certain amount on the turnover.

webx.com gives the investor an option to choose from any of the brokers or

sub-brokers or branches that have registered with the webx.com. Once the

investor selects the broker, he can visit his Web space and fill the online

registration form that will be sent to the concerned broker by webx.com.