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Mr G.N. Bajpai, Chairman, SEBI (left), Mr A.P. Kurien, Chairman, Geojit Securities, and Mr C.J. George, Managing Director, at the launch of the first Net-based integrated trading on cash-cum-derivative market on the NSE in Mumbai on Monday.

MUMBAI, March 18

GEOJIT Securities Ltd has launched Internet trading for both cash and derivatives segments based on NSE.IT's product `Neat iXS'. Mr G.N. Bajpai, SEBI Chairman, inaugurated the service by punching the first order at a function organised here today.

Mr Bajpai said Net trading and similar technological development in the capital market would help investors in the long run. Currently, Net trading accounted for only two to three per cent of the trading but it was not a small volume, considering the current penetration level of Internet in the country, he said.

Mr Bajpai said SEBI was making efforts to increase investor awareness. ``We are coordinating with various agencies to create investor awareness and address their grievances,'' he added.

Mr A.P. Kurien, Chairman, Geojit Securities, said the firm was planning to expand its domain in the derivatives segment with this service. ``Of the Rs 100-crore daily volumes of Geojit, about 55 per cent is from the derivatives segment and the rest is from the cash segment. We expect the volumes to go up considerably with this launch,'' he said.

Neat iXS is an e-braking product that facilitates brokers to provide Internet trading to clients. ``This is a ready-to-plug-in system enabling near real-time online market information and order entry through Internet and complete automation of order execution, risk management and surveillance.

Acknowledging that the current rate of Net trading was quite low, Mr Ravi Narain, Managing Director and Chief Executive Officer, NSE, and Chairman of NSE.IT, said that the future growth of the equity and derivatives market lay in Net trading,

``Of the total trading, only two per cent is done on the Internet. The current trading is in the region of Rs 60 to 70 crore and retail investors form a sizeable portion.''

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