The BSE's approval to the NSE for a multiple trading solution could not have come at a better time. Online trading was introduced in India by the NSE, and to counter their in-house technology, the BSE in 1995 developed the BOLT (BSE Online Trading Terminal). It seems at last the two exchanges are getting together.
The NSE received an in principle approval from the BSE to develop Neat-On-Web (NOW), a front end software, that would allow NSE/BSE traders to trade on multiple exchanges, thus facilitating simultaneous trading in BSE and NSE listed companies.
NOW is a fully integrated multiple market front end solution, allowing trading members to access the markets through the internet, VSAT or the leased line. The project is still in it's testing phase, as it requires integration and sharing of application programmes, but being the first of its kind in India, this system when complete, would enhance the BSE's access to a larger network of NSE members.
Traders on the NSE would get access to the 7,000 plus companies listed on the BSE, while the NSE has around 1,400 firms listed on it. Currently, over 1,84,000 NSE trading terminals are in use across the country from where orders can be entered into the system. The number of trading terminals of the National Stock Exchange in the country is set to cross the 200,000 mark soon and the BSE's coming together with the NSE, despite being arch rivals is a step in the direction of encouraging more traders & investors to enter the market.
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