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BOLT Hard

BSE introduced online trading known as BOLT to provide efficient, liquid, and transparent stock trading in India. BOLT allows brokers to place trades electronically on behalf of investors through a network connecting over 359 cities. Online trading operates based on price and time priority. In 2001, BSE launched BSEWEBX.com to enable global online trading on its platform. BSE monitors trading activity in real-time to detect issues and has the highest number of listed companies of any exchange.

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Janvi Shah
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127 views2 pages

BOLT Hard

BSE introduced online trading known as BOLT to provide efficient, liquid, and transparent stock trading in India. BOLT allows brokers to place trades electronically on behalf of investors through a network connecting over 359 cities. Online trading operates based on price and time priority. In 2001, BSE launched BSEWEBX.com to enable global online trading on its platform. BSE monitors trading activity in real-time to detect issues and has the highest number of listed companies of any exchange.

Uploaded by

Janvi Shah
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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MEANING OF BOLT

BSE Online Trading:


The trading on stock exchanges in INDIA used to take place through open
Outcry method without use of information technology for immediate
matching or recording of trades. This was time consuming and inefficient. In
order to provide efficiency, liquidity and transparency BSE introduced online
fully automated “Screen based trading system” known as BOLT- Bombay
online trading. BOLT is currently operating in 25,000 Trader Workstations
located across over 359 cities in India. BOLT has at present capacity to
handle 500000 trades in a seven hour trading session per day.

In this an investor informs broker to place an order on his behalf. The broker
enters the order through his PC, which runs under Windows NT and sends
signal via VSAT. The signal is directed to mainframe computer at NSE via
VSAT at NSE’s office. Same is the process involved in the placing of buy
order.

The online trading operates on strict basis of:

1. Price priority
2. Time priority

In February 2001, BSE introduced the world's first centralized exchange-


based Internet trading system, BSEWEBX.com. This initiative enables
investors anywhere in the world to trade on the BSE platform.

The BSE's On-Line Surveillance System (BOSS) monitors on a real-time basis


the price movements, volume positions and members' positions and real-
time measurement of default risk, market reconstruction and generation of
1
cross market alerts.

BSE is the world's number 1 exchange in terms of the number of listed


companies and the world's 5th in handling of transactions through its
electronic trading system. The companies listed on BSE command a total
market capitalization of USD Trillion 1.06 as of July, 2009.

BSE, along with its strategic partners, have put into place several critical
processes/systems such as

1) Derivatives Trading & Settlement System (or DTSS)


2) Electronic Contract Notes (or ECN)
3) Unique Client Code registration (or UCC)
4) Real-time Data Dissemination System
5) Integrated Back-office System
6) Book Building System (also known as BBS)
7) Reverse Book Building System (or RBBS)
8) Debt Market
9) Director's Database

Some terminologies of online trading are:


Snap Quote: This feature is available to get instantaneous market
information on a desired security.
Active & passive orders: when any order enters the trading system, it is an
active order. It tries to find the match on the other side of the books. If it
finds a match trade is generated.
Circuit Brakers: started implementing compulsorily from July, 2001.

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