Sri Lanka stock exchange promotes mobile phone trading
ECONOMYNEXT – The Colombo Stock Exchange (CSE) will conduct training programmes around the country to educate investors on the use of mobile phone trading applications, given the increasing use of smartphones which enable investor to place orders in real-time.
The facility requires a web-enabled smartphone and a stockbroker trading account, the CSE said in a statement.
The same security protocols adopted by Web-based portals and other e-commerce applications are used for mobile trading, it said.
The applications offer a range of features that include daily market summaries, portfolio management, buy and sell options, ability to track and view the history of orders, analyze gains and losses in real-time and breaking corporate news alerts.
The training, conducted free-of-charge, will be in Sinhala, Tamil and English mediums and be conducted in Colombo, Kandy, Ratnapura, Matara, Anuradhapura, Negombo, Kurunegala and Jaffna.
The popularity of smartphones is rapidly increasing and with that, tech savvy investors around the world have taken to mobile trading as a way to conveniently trade stocks using their smartphones. This is reflected in the growth of mobile applications as a whole.
“With the usage of smartphones growing worldwide, where devices are increasingly utilized to access online services and information, it is only just that we offer investors the convenience of trading from their mobiles,” said Niroshan Wijesundere, Head of Market Development at CSE.
“A common problem for investors has been gaining access to sources through which orders can be placed in real-time – in other words, the lack of the opportunity to trade live, from wherever they are located,” the CSE statement said.
“Given the active and sometimes volatile nature of the current market, an opportunity could be lost or capitalized on in a matter of seconds. Getting the timing right in terms of when to buy or sell a stock could therefore be as crucial as deciding what shares to buy.”
(COLOMBO, July 12, 2016)