Share Trading Online Project MBA...

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PROJECT ON

ON-LINE TRADING

(Part of 45 days MBA training)

Name: RAJESH KUMAR SHARMA

ROLL NO: 100062243125.

Training duration:June 7, 2011 to July 21, 2011.

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DECLARATION:

I, Rajesh kumar sharma(Roll No.100062243125), Student of Baba

Banda Singh Bhadur Engineering College Fatehgarh Sahib hereby

declare that I have completed the project named “On-line Trading” as

a part of 45 days specialized institutional training at Delhi Stock

Exchange (DSE).

The information submitted is true to the best of my knowledge and

belief.

(RAJESH KUMAR SHARMA)

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ACKNOWLEDGEMENT

In the accomplishment of this project work, I have received buttress

and support from myriad quarters that need special mention.

I, Rajesh kumar sharma, like to take this opportunity to sincerely

thank Ms. Yasmin Rizwan, General Manager – Listing(DSE) and Mr.

Nitin Thani, Assistant Manager – Listing (DSE) for their guidance

and valuable suggestions without which this project could not have

been successfully completed.

I would even like to thank my family members and my friends for

providing me the facilities required to complete this project and make

it a great success.

I will forever remain thankful to all these people for their

overwhelming response and cooperation.

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SYNOPSIS:

ONLINE TRADING

1. About trading and investors.

2. Introduction of Online Trading:

• History

• Objective, merits and demerits

• Dematerialization and rematerialization.

3. Where trading is done : BSE and NSE

4. The Big two architectures

5. Top players in online trading

6. Depository System

• About NSDL and CDSL

• Objectivity, Activity and benefit of Depository.

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EXECUTIVE SUMMARY

This project is about the latest trend in trading through online networking

that is taking the Business World by storm. Online trading networking or

“networking on the net” is becoming the easiest, fast, very focused and a

most effective means of growing the chain of contract to help in climbing

the success ladder with much ease.

SCOPE

This project study covers the different genres of networking, be the trading

through online or more relaxed.

METHODOLOGY

This project provides a clear objective insight into the phenomenon of

online trading. This project has been a primary data based project right

since its conception. Beside a minuscule number of statistics and research

data which was found online, all the inferences and conclusions have been

made on the real time usage of networking websites.

OBJECTIVE

The objective of this project is to bring in focus the most innovative

upcoming technology trading or investing.

RECOMMENDATION

Going through the traditional meet and greet routines for extending and

enriching our networks can be quite perfunctory and ineffective. Online

trading has held the helm of many ship on the brink of capsizing, many

success story has been written on the pages of online trading networking.

A budding entrepreneur needs networking more than anything els; his

ship is then assured of smooth sailing even in the rough seas.

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ABOUT TRADING INVESTORS:

Trading:

A trading is process in which someone who buys and sells Financial Instruments

such as stocks, bonds or derivatives. Traders are Professionals, casual investors

or speculators in financial instruments traded in the stock market, commodity

market and Derivative market, comprising of Stock Exchanges, derivative

Exchanges and commodity exchanges.

WHY TRADING IS DONE BY AN INVESTOR?

Investor can deal with the stock exchange securities either for a genuine trading

purpose or for the purpose of speculative trading. Genuine investors give/take

delivery of shares with no intention to postpone the settlement to the next period.

Their primary motive is to get long term gains. On the other hand Speculators do

not give/take delivery of shares. They deal in the difference of purchase and sale

prices. Their main intention is to carry forward the transactions and get short

term gains due to price differences.

ONLINE TRADING

The net is used as a medium of trading in internet trading. Orders are

communicated to the stock exchange through website. The SEBI committees on

internet based securities trading services has allowed the net to be used as an

Order Routing System (ORS) through registered stock brokers on behalf of their

clients for execution of transaction.

Under ORS the clients enters his requirements (security, quantity, price, buy/sell)

in the broker’s site. They are checked electronically against the clients account and

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routed electronically to the appropriate exchange for execution of the broker4. The

client receives a confirmation on execution of the order. The customer’s portfolio

and ledger accounts get updated to reflect the transaction.

The user should have the user id and password to enter in the electronic ring. He

should also have a demat account and bank account. The system permits only a

registered client to log in using the user ID and password. Orders can be placed

using place orders window of the website.

Internet trading provides total transparency between the broker and an investor in

the secondary market. In the open outcry system, only the broker knew the

actually transacted price. Screen based trading provides more transparency. With

online trading investors can see themselves the price at which the deal takes place.

The time gap has narrowed at every stage of operation. Confirmation and

execution of trade reaches the investor within the least possible time, mostly

within 30 seconds.

The information technology has brought out revolutionary change in the

operations of stock exchanges across the globe. The traditional method of trading

was time consuming and inefficient. Further, it imposed limits on trading volumes

and efficiency. To overcome those defects and to provide efficient and transparent

services, the NSE has introduced the Nation wide On-line fully automated screen

based trading system (SBTS). Now, the other stock exchanges have been forced to

adopt SBTS and today India can feel proud on the fact that almost 100% take

place by electronic order matching.

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Under SBTS a member can punch into computer a number of securities and prices

at which he would like to transact. It gets executed as soon as it finds the matching

sale/buy order from the counter party. Thus, technology has helped in carrying the

trading hall of exchanges to the premises of the brokers. NSE has carried thetrading the internet and the hand held devices through WAP for the convenience

of mobile investors.

Small Beginning:

Compared to the Western nation, online trading is still in infant stage in India.With trading turnover around Rs. 10 Crores per day from On-line trading

compared to the combined gross turnover of around Rs. 9000 to 10000 crores

handled by BSE and NSE together, ON-Line trading has a long way to go. With

some ten dotcom players, such as icicidirect.com, investmart, 5paisa.com,

Indiabulls, and a host of brokers such as kotaksteet, sharekhan, geojit securities

and dutt stock, entering the Online ring promises exciting times ahead.

History of online trading:

The birth of online trading came with the debut of the Internet. Prior to this,

everyone who traded placed their order through a broker who greatly influenced

their purchase decisions. As a matter of fact, only large businesses had access to

the web before 1979. Today, however, daily investments are made by individuals

through the Internet as online trading continues to remain one of society's most

popular ventures.

Online trading began in the 1900s with the advent of the Internet. Where traders

once had to physically call in their transactions, online trading opened a new

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http://www.ehow.com/internet/


http://www.ehow.com/business/





window of opportunity. Traders were able to place their transactions independent

of an external broker. Online brokerage firms became the new way to conduct

business. CompuServe came on the scene in 1969 as the first major online service

company. By the mid-1980s, it was considered a giant in its field.

Objectives of internet trading:

1. Increase transparency in markets

2. Enhance market quality through improved liquidity, by increasing quote

continuity and market depth

3. Reduce settlement risk due to open trades, due to mismatches.

4. Provide management information systems(MIS)

5. Introduce flexibility in system, to handle growing volumes easily and to

support nationwide expansion of market activity.

6. Beside through internet trading three fundamental objectives of SEBI can

easily be achieved these are: investor protection; creation of fair and

efficient market and reduction of systematic risks.

Two types of trading environments: merits & demerits

1. Traditionally stock trading is done through stock brokers, personally or

through telephones. As number of people trading in stock market increase

enormously in last few years, some issues like location constrains, busy

phone lines, miss communication etc start growing in stock broker offices.

Information technology (Stock Market Software) helps stock brokers in

solving these problems with Online Stock Trading.

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Online Stock Market Trading is an internet based stock trading facility.

Investor can trade shares through a website without any manual

intervention from Stock Broker.

In this case these Online Stock Trading companies are stock broker for the

investor. They are registered with one or more Stock Exchanges. Mostly

Online Trading Websites in India trades in BSE and NSE.

There are two different type of trading environments available for online

equity trading.

1. Installable software based Stock Trading TerminalsThese trading environment requires software to be installed on

investors computer. This software is provided by the stock broker.

This software requires high speed internet connection. These kind of

trading terminals are used by high volume intra day equity traders.

Advantages:

Orders directly send to stock exchanges rather then stock

broker. This makes order execution very fast.

It provides almost each and every information which is

required to a trader on a single screen including stock market

charts, live data, alerts, stock market news etc.

Disadvantages:

Locations constrain - You cannot trade if you are not on the

computer where you have installed trading terminal software.

It requires high speed internet connection.

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These trading terminals are not easily available for low

volume share traders.

2. Web (Internet) based trading application:

This kind of trading environment doesn't require any additional

software installation. They are like other internet websites which

investor can access from around the world through normal internet

connection.

Below are few advantages and disadvantages of Online Stock

Market Trading:

Advantages of Online Stock Trading (Website based):

Real time stock trading without calling or visiting broker's

office.

Display real time market watch, historical datas, graphs etc.

Investment in IPOs, Mutual Funds and Bonds.

Check the trading history; demat account balance and bank

account balance at any time.

Provide online tools like market watch, graphs and

recommendations to do analysis of stocks.

Place offline orders for buying or selling stocks.

Set alert to inform you certain activity on the stock through

email or SMS.

Customer service through Email or Chat.

Secure transactions.

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Disadvantages of Online Stock Trading (Website based):

Website performance - sometime the website is too slow or

not enough user friendly.

Little long learning curve especially for people who don’t

know much about computer and internet.

Brokerages are little high.

Dematerialization:

Dematerialization is the process in which the physical certificates of an investor

are taken back by the company. The registrar destroys the shares and equivalent

number of shares is credited in the electronic holdings of the investor. This is done

at the request of the investor.

The Process

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1. Surrendering of certificate to DP for dematerialization.

2. NSDL (depository) is informed by the DP through electronic connectivity.

3. Original share certificates are submitted to the registrar by the DP.

4. The request for dematerialization from NSDL to the register.

5. The registrar credits an equivalent number of shares in the account andinforms NSDL.

6. The NSDL updates its own account and the DP is informed.

7. The depository agent credits it in the account of the investor and the same is

informed to the investor.

Rematerialisation:

Sometimes the investor may like to convert his electronic holdings back

into physical share certificate. The process undertaken for this purpose is known

as rematerialisation.

The Process

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1. Investor requests the DP for rematerialisation.

2. The DP informs this to NSDL.

3. NSDL intimates the Registrar.

4. The Registrar of the company prints certificates with new numbers and

informs NSDL.

5. NSDL adjusts its account and passes on the details to the DP.

6. The certificates are despatched to the investor.

Where trading is done?

Trading is done in two stock exchanges. There are 22 stock exchanges situated in

Delhi, Ahmadabad, Kolkata, Chennai etc. there are two major stock exchanges in

India i.e. BSE and NSE.

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Bombay Stock Exchange (BSE)

Bombay Stock Exchange was established as "The Native Share & Stock Brokers'

Association" in 1875. Among the twenty-two Stock Exchanges recognised by the

Government of India under the Securities Contracts (Regulation) Act, 1956, it was

the first one to be recognised and it is the only one that had the privilege of getting

permanent recognition ab-initio.

Over the years, BSE has facilitated in the development of the Indian corporates by

providing them an efficient capital raising platform.

The main aims and objectives of the BSE is to provide a market place for the

purchase and sale of security evidencing the ownership of business property or of

a public or business debt. It aims to promote, develop and maintain a well

regulated market for dealing in securities and to safeguard the interest of members

and the investing public having dealings on the Exchange. It helps industrial

development of the country through efficient resource mobilization. To establish

and promote honourable and just practices in securities transactions.

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http://finance.indiamart.com/india_business_information/bse.html

http://finance.indiamart.com/india_business_information/bse.html



In the present scenario BSE is the world's number 1 exchange in terms of the

number of companies listed (over 4900)on it. It is the world's 5th most active in

terms of number of transactions handled through its electronic trading system.

BSE is the first Exchange in the country and second in the world to receive

Information Security Management System Standard BS 7799-2-2002 certification

for its BSE On-Line trading System (BOLT). BSE is the first exchange in India

and the second in the world to obtain an ISO 9001:2000 certification.

The BSE Index, SENSEX, is India's first and most popular Stock Market

benchmark index. Exchange traded funds (ETF) on SENSEX, are listed on BSE

and in Hong Kong. Futures and options on the index are also traded at BSE.

NATIONAL STOCK EXCHANGE (NSE)

The National Stock Exchange (NSE), located in Bombay, is India's first debt

market. It was set up in 1993 to encourage stock exchange reform through system

modernization and competition. It opened for trading in mid-1994.

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http://finance.indiamart.com/markets/nse/




The National Stock Exchange of India Limited has genesis in the report of the

High Powered Study Group on Establishment of New Stock Exchanges, which

recommended promotion of a National Stock Exchange by financial institutions(FIs) to provide access to investors from all across the country on an equal footing.

Based on these recommendations, NSE was promoted by leading Financial

Institutions at the behest of the Government of India and was incorporated in

November 1992 as a tax-paying company unlike other stock exchanges in the

country.

On its recognition as a stock exchange under the Securities Contracts (Regulation)

Act, 1956 in April 1993, NSE commenced operations in the Wholesale Debt

Market (WDM) segment in June 1994. The Capital Market (Equities) segment

commenced operations in November 1994 and operations in Derivatives segment

commenced in June 2000.

Over the following years NSE introduced various products and services such as

introduction of internet trading, Exchange traded funds (ETF), stock derivatives

and the first volatility index – IndiaVIX, Interest Rate Futures and is continuing to

do so to take care of the evolving needs.

THE 'BIG TWO' ARCHITECTURES

NSE and BSE, the 'big two' exchanges believe in updating and upgrading its

technology systems to keep delivering according to commitments and promisesmade to its members, partners, and customers.

NSE architecture - NEAT

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NSE has deployed NIBIS (NSE's Internet Based Information System) for real-time

dissemination of trading information over the Internet and NEAT a client-server-

based application to help its operations.

NEAT stores all trading information in an in-memory database at the server end to

achieve minimum response time and maximum system availability for users. The

trading server software runs on a fault-tolerant STRATUS mainframe and the

client software runs on Windows PCs.

The telecommunications network uses the X.25 protocol and is the backbone of

the automated trading system. Each trading member trades on the NSE with other

members through a PC located in the trading member's office.

The trading members on the Wholesale Debt Market segment are linked to the

central computer at the NSE through dedicated 64 Kbps leased lines and VSAT

terminals. These leased lines are multiplexed using dedicated 2 MB optical-fiber

links. The WDM participants connect to the trading system through dial-up links.

The exchange uses RISC-based Unix servers from Digital and HP for backoffice

processing. Applications like Oracle 7 and SQL/Oracle Forms 4.5 front ends are

used for the exchange functions.

BSE architecture – BOLT

BSE has deployed an On-Line Trading system (BOLT) on March 14, 1995. It

works on a Tandem S74016 platform running on 16 CPUs. The Tandem Himalaya

S74016 machines act as the backend to more than 8000 Trader Workstations

networked on Ethernet, VSAT and Managed Leased Data Network (MLDN). The

systems claim to handle up to two million trades a day.

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BOLT has a two-tier architecture. The trader workstations are connected directly

to the backend server which acts as a communication server and a Central Trading

Engine (CTE). Other services like information dissemination, index computation,

and position monitoring are also provided by the system. A transaction monitoringfacility in the Tandem architecture helps keep data integrity through non-stop

SQL.

With the help of MTNL, BSE has setup a MLDN Network comprising 300 2

Mbps lines and 1500 64 Kbps lines which connect all regional stock exchanges

and offices in Mumbai. Access to market related information through the trader

workstations is essential for the market participants to act on real-time basis and

take instantaneous decisions. BOLT has been interfaced with various information

vendors like Bloomberg, Bridge, and Reuters. Market information is fed to news

agencies in real time. The exchange plans to enhance the capabilities further to

have an integrated two-way information flow.

TOP PLAYERS IN ONLINE TRADING

Type of Account

ICICIDirect offers 3 different online trading platforms to its customers:

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1. Share Trading Account

Share Trading Account by ICICIDirect is primarily for buying and selling

of stocks in BSE and NSE.

This account allows Cash Trading, Margin Trading, MarginPLUS Trading,

Spot Trading, Buy Today Sell Tomorrow and Call and Trade on phone.

ICICIDirect.com website is the primary trading platform for this trading

account. They also provide installable application terminal based

application for high volume trader.

2. Wise Investment Account

Along with stock trading and IPO investing in BSE and NSE, Wise

Investment account also provide options to invest in Mutual Funds and

Bonds online.

Online Mutual funds investment allows investor to invest on-line in around

19 Mutual Fund companies. ICICI Direct offers various options whileinvesting in Mutual Funds like Purchase Mutual Fund, Redemption and

switch between different schemes, Systematic Investment plans, Systematic

withdrawal plan and transferring existing Mutual Funds in to electronic

mode. This account also provides facility to invest in Government of India

Bonds and ICICI Bank Tax Saving Bonds.

ICICIDirect.com website is the primary tool to invest in Mutual Funds,

IPOs, Bonds and stock trading.

3. Active Trader Account

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Active Trader account gives more personalized investment options to the

investors. It allows investor to use online and offline stock trading. It also

provides with independent market expertise and support through a

dedicated Relationship Manager from ICICI.

Active Trader also provides commodity trading.

Sharekhan is online stock trading company of SSKI Group, provider of India-

based investment banking and corporate finance service. ShareKhan is one of the

largest stock broking houses in the country. S.S. Kantilal Ishwarlal Securities

Limited (SSKI) has been among India’s leading broking houses for more than a

century.

Sharekhan's equity related services include trade execution on BSE, NSE,

Derivatives, commodities, depository services, online trading and investment

advice. Trading is available in BSE and NSE. Along with Sharekhan.com website,

ShareKhan has around 510 offices (share shops) in 170 cities around the country.

Share khan has one of the best state of art web portal providing fundamental and

statistical information across equity, mutual funds and IPOs. You can surf across

5,500 companies for in-depth information, details about more than 1,500 mutual

fund schemes and IPO data. You can also access other market related details such

as board meetings, result announcements, FII transactions, buying/selling by

mutual funds and much more.

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http://www.sski.co.in/

http://www.sski.co.in/



5paisa is Online Stock Trading Company of India Infoline Securities Private Ltd.,

Owner of popular business portal Indiainfoline.com. Besides high quality

investment advice from an experienced research team, the site offers real timestock quotes, market news and multiple tools for technical analysis.

Trading Terminals:

5Paisa offers 2 different online trading terminals to its customers:

Investor Terminal (IT)

Investor Terminal is 5Paisa's equity trading terminal for low volume trader.

This is web based terminal and could access from anywhere. This product

provides limited features in comparison of Trader Terminal, which is

another product provided by 5Paisa.

Trader Terminal (TT)

Trader Terminal is design for high volume equity traders or day traders.

Trader Terminal provides high volume trading with powerful interface and

fast order execution.

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Incorporated in 1987, Motilal Oswal Securities Ltd is a well diversified financial

services firm offering a range of financial products and services such as Wealth

Management, Broking & Distribution, Commodity Broking, Portfolio

Management Services, Institutional Equities, Private Equity, Investment Banking

Services and Principal Strategies.

Company have a diversified client base that includes retail customers (including

High Net worth Individuals), mutual funds, foreign institutional investors,

financial institutions and corporate clients. They are headquartered in Mumbai and

as of September 30th, 2009, had a network spread over 576 cities and towns

comprising 1,257 Business Locations operated by them. As at September 30th,

2009, company had 5,80,667 registered customers.

Incorporated in 1987, Geojit BNP Paribas (Geojit) is one of the major stock

brokers based in India. Geojit is based in Kochi, Kerala and has the strong

presence in Gulf.

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Geojit BNP Paribas is cash equity and derivatives broker with extensive

experience in Portfolio Management Services and the distribution of financial

products: mutual funds and life insurance.

Geojit provides stock trading at NSE and BSE stock exchanges

through a strong network of around 500 branches and its state of art online trading

portal.

Geojit BNP Paribas is a stock market listed company and its stock are traded at

NSE (GEOJIT) and BSE (532285).

Over the years the name of the company got changed from Geojit Securities Ltd.to Geojit Financial Services Ltd. (GFSL) and finally to Geojit BNP Paribas

Financial Services LTD in April 2009.

DEPOSITORY SYSTEM

CENTAL DEPOSITORY SERVICES (INDIA) LIMITED

A Depository facilitates holding of securities in the electronic form and enables

securities transactions to be processed by book entry by a Depository Participant

(DP), who as an agent of the depository, offers depository services to investors.

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According to SEBI guidelines, financial institutions, banks, custodians,

stockbrokers, etc. are eligible to act as DPs. The investor who is known as

beneficial owner (BO) has to open a demat account through any DP for

dematerialization of his holdings and transferring securities.

The balances in the investors account recorded and maintained with CDSL can be

obtained through the DP. The DP is required to provide the investor, at regular

intervals, a statement of account which gives the details of the securities holdings

and transactions. The depository system has effectively eliminated paper-based

certificates which were prone to be fake, forged, counterfeit resulting in bad

deliveries. CDSL offers an efficient and instantaneous transfer of securities.

CDSL was promoted by Bombay Stock Exchange Limited (BSE) jointly with

leading banks such as State Bank of India, Bank of India, Bank of Baroda, HDFC

Bank, Standard Chartered Bank, Union Bank of India and Centurion Bank.

CDSL was set up with the objective of providing convenient, dependable and

secure depository services at affordable cost to all market participants. Some of

the important milestones of CDSL system are:

CDSL received the certificate of commencement of business from SEBI in

February, 1999.

Honourable Union Finance Minister, Shri Yashwant Sinha flagged off the

operations of CDSL on July 15, 1999.

Settlement of trades in the demat mode through BOI Shareholding Limited, the

clearing house of BSE, started in July 1999

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All leading stock exchanges like the National Stock Exchange, Calcutta Stock

Exchange, Delhi Stock Exchange, The Stock Exchange, Ahmedabad, etc have

established connectivity with CDSL

As at the end of Dec 2007, over 5000 issuers have admitted their securities

(equities, bonds, debentures, commercial papers), units of mutual funds, certificate

of deposits etc. into the CDSL system

NATIONAL SECURITIES DEPOSITRY LIMITED (NSDL)

NSDL is an organization promoted by the Industrial Development Bank of India,

the Unit Trust of India and the National Stock Exchange of India ltd., to provide

electronic depository facilities for securities traded in the equity and debt market.

The depositories’ ordinances promulgated by the Government of India in

September 1995 enabled the setting up of multiple depository system. SEBI issued

guidelines for depositories in May 1996. The bill was passed by the Parliament in

July 1996. NSDL was registered by SEBI on June 7, 1996.

THE FUNCTIONING

NSDL performs the following functions through its various participants

a. Enables surrender and withdrawal of securities to and from the

depository.

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b. Maintains investors holdings in electronic form

c. Effects settlement of securities traded on exchanges.

d. Carries out settlements of trader that have not been done on the stock

exchanges.

NSDL (DP) Depository Participant can be a public financial institution, bank,

custodian, registered stock broker or an NBFC subject to the approval of the

depository company and the SEBI. Brokers and NBFCs are required to have a

minimum net worth of Rs. 50 lakhs. DP has to pay a security deposit of Rs. 10

lakhs and an admission fee of Rs. 25000 to NSDL. The depository participants are

likely to pass these charges to the investors.

NSDL operates on two tier structures wherein it maintains accounts of its DP and

the DP maintain the accounts of their clients. With the help of continuous

electronic connectivity, reconciliation of all accounts is done on daily basis to

balance the number of stocks issued and dematerialized.

Initially, NSDL makes use of VSAT network of the NSE for communication as it

is easier for the DPs who have leased lines with NSE to join. After ascertaining its

requirement on the volume of trade, NSDL would set up its own network. At

present, NSE only has the clearing corporation, the National Securities Clearing

Corporation and it can participate in the functioning of NSDL. The SEBI has now

made it mandatory for all stock exchanges to have a clearing corporation. The

stock exchanges are setting up their own clearing corporation.

OBJECTIVE OF DEPOSITORY:

A depository helps the Capital Market to achieve the following objectives:

1. Reduce the time for transfer of securities

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2. Avoid the risk of settlement of securities.

3. Enhance liquidity and efficiency

4. Reduce transaction cost for the investor

5. Create a system for central handling for all the securities6. Promote the country competitiveness by complying with the global

standards

7. Provide service infrastructure in capital market

ACTIVITIES OF DEPOSITORY:

The main activities of Depositories as follows:

1. Accepting deposit of securities for custody

2. Making computerized book entry pledges of securities in its custody

3. Providing for withdrawal of securities

4. Undertaking corporate actions like distribution of dividend and interest

5. Redemption of security on maturity

BENEFITS OF DEPOSITORIES SERVICES:

1. A safe and convenient way to hold securities

2. Immediate transfer of securities

3. No stamp duty on transfer of securities

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4. Elimination of risks associated with physical securities like bad delivery,

theft, delays etc.

5. Reduction/elimination of paperwork involved in transfer of securities

6. Reduction in transaction cost.7. No odd lot problem; each share comprises a lot

8. Nomination facility

9. Change in address recorded with DP gets registered with all the Companies

in which the investor holds the securities electronically eliminating the need

to correspond with each one of them separately.

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BIBLIOGRAPHY

BOOKS:

• Financial market and services - E Gordan, K Natrajan

• Financial Management – Khan and Jain

WEBSITES:

• www.cdslindia.com

• www.nsdl.co.in

• www.nseindia.com

• www.bseindia.com

• www.5paisa.com

• www.sharekhan.com

• www.geojitbnpparibas.com

http://www.nsdl.co.in/

http://www.nseindia.com/

http://www.bseindia.com/

http://www.5paisa.com/

http://www.sharekhan.com/

http://www.nsdl.co.in/

http://www.nseindia.com/

http://www.bseindia.com/

http://www.5paisa.com/

http://www.sharekhan.com/

Share Trading Online Project MBA...

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