Ex­changes de­ploy apps, plat­forms & chat­bots

Vol­ume, busi­ness and trade grow:

Banking Frontiers - - Trading Tools - Me­[email protected]­ingfron­tiers.com

The first stock ticker was in­vented by Ed­ward A. Cala­han in 1867. Since then, a lot of tech­no­log­i­cal ad­vance­ments have changed the way ex­changes op­er­ate. Na­tional Stock Ex­change of In­dia (NSE) has re­cently launched In­dia’s first web-based plat­form and new mo­bile app ‘NSE goBID’ for re­tail in­vestors to buy gov­ern­ment se­cu­ri­ties.

CON­VE­NIENT, COST EF­FEC­TIVE

The ‘NSE goBID’ app is be­ing made avail­able to all the reg­is­tered in­vestors with NSE’s trad­ing mem­bers. It will al­low re­tail in­vestors to make pay­ment di­rectly from their bank ac­counts us­ing the UPI and in­ter­net bank­ing. While re­tail in­vestors will ben­e­fit from a con­ve­nient pay­ment op­tion, its cost ef­fec­tive­ness will ap­peal to trad­ing mem­bers of NSE as the cost as­so­ci­ated for set­ting up in­fra­struc­ture is much lower than the ex­ist­ing plat­form. The ‘NSE goBID’ plat­form will han­dle or­der col­lec­tion, pay­ment and re­fund, which is cur­rently re­quired to be man­aged by trad­ing mem­bers. It will fa­cil­i­tate trad­ing mem­bers in ac­quir­ing new re­tail in­vestors.

Ajay Tyagi, chair­man, SEBI, says the launch of the web and mo­bile app for in­vest­ing in gov­ern­ment se­cu­ri­ties is an im­por­tant mile­stone at a time when In­dia is see­ing surge in dig­i­tal pay­ments. “It is nec­es­sary to ex­tend this tech­nol­ogy for im­prov­ing the pen­e­tra­tion of the cap­i­tal mar­kets. The re­tail par­tic­i­pa­tion in gov­ern­ment se­cu­ri­ties only started af­ter SEBI al­lowed ex­changes to set up non-com­pet­i­tive bid­ding plat­forms by ex­changes,” he adds.

Hari K., chief busi­ness of­fi­cer, NSE, says mo­bile trad­ing on NSE is 8% of its to­tal vol­ume in cash mar­ket. Sim­i­larly, in­ter­net­based trad­ing is 15% of vol­ume. They are prov­ing to be game changer, says he.

BSE app: MIL­LION USERS

The Bom­bay Stock Ex­change’s mo­bile ap­pli­ca­tion ‘BSEIn­dia’, launched way back in Au­gust 2013, helps in­vestors to keep track on mar­kets on a real time ba­sis. It fa­cil­i­tates in­vestors a di­rect ac­cess to all the BSE in­dices. This ap­pli­ca­tion also al­lows in­vestors to keep track of the stock price move­ment at any given time of the day along with in­for­ma­tion on the top gain­ers, losers and turnover. The app is avail­able to in­vestors from Google Play and Win­dows stores. Yatin Pa­dia, head, cor­po­rate com­mu­ni­ca­tion/ in­vestor re­la­tions, says the toal down­load of the app as on 3 De­cem­ber 2018 is more than one mil­lion. The app and BSE web­site are now avail­able in mul­ti­ple lan­guages.

STaR MF’S pROCESS RECORD

BSE runs the mu­tual fund trad­ing plat­form - BSE StAR MF - the largest MF dis­trib­u­tor plat­form in In­dia. BSE StAR MF has pro­cessed nearly 13.9 mil­lion trans­ac­tions in 2018-19. It is see­ing 17% month on month growth. All mu­tual fund in­vestors/ dis­trib­u­tors/ reg­is­tered in­vest­ment ad­vis­ers and users can down­load BSE StAR MF mo­bile app (beta re­lease) from Google Play­store. The plat­form, orig­i­nally launched in De­cem­ber 2009, now pro­vides a range of ser­vices for easy trans­ac­tions and seam­less or­der flow for AMCs. Says Pa­dia: “BSE StAR MF is a browser based front end. Its ar­chi­tec­ture pro­vides scal­able op­er­a­tion and flex­i­ble de­ploy­ment op­tions while en­sur­ing data in­tegrity for im­proved per­for­mance. The sys­tem uses ASP.NET as browser based front-end and RDBMS as the back-end data­base.”

aSK MOTaBHaI: CHaT­BOT

BSE in part­ner­ship with Mi­crosoft and Shep­hertz has launched ‘Ask Motabhai’, an AI-based chat­bot in Au­gust 2018. It pro­vides on-de­mand data and in­for­ma­tion from the stock ex­change’s web­site. It can have a text-based con­ver­sa­tion with the user and mine the BSE web­site to give cus­tom­ized in­for­ma­tion. Pa­dia says the chat­bot has been built us­ing the Mi­crosoft Bot Frame­work, Cog­ni­tive Ser­vices, QnA Maker and Lan­guage Un­der­stand­ing In­tel­li­gent Ser­vice on Mi­crosoft Azure cloud.

The chat­bot is sig­nif­i­cant ini­tia­tive in BSE’s en­deavor to cre­ate a seam­less cus­tomer ex­pe­ri­ence. In ad­di­tion to stock prices and cor­po­rate news, vis­i­tors to the BSE web­site look for in­for­ma­tion on var­i­ous fi­nan­cial in­stru­ments like mu­tual funds, de­riv­a­tives and IPOs. The chat­bot, says Pa­dia, is pro­grammed to ad­dress mar­ket re­lated queries, like ‘what are the new IPOs? and which stocks are trad­ing at their 52-week high?’, in ad­di­tion to the ca­pa­bil­ity to ad­dress queries re­lated to cor­po­rate ac­tions and a stock’s price.

SO­CIaL ME­DIa Up­DaTES

BSE has tied up with Sen­tifi, a Swiss com­pany and leader in al­go­rithm-based analy­ses and re­port­ing, for so­cial me­dia up­dates of 40,000 listed stocks glob­ally. The in­for­ma­tion, made avail­able on BSE web­site in near real time, in­cludes rank­ing of the most talked about stocks, the mar­ket at­ten­tion to stocks from global voices in news and so­cial me­dia, in tweets, news and blogs. Pa­dia ex­plains: “This helps in­vestors/ read­ers to steer away from in­for­ma­tion over­flow and lis­ten to the most in­flu­en­tial per­sons and or­ga­ni­za­tions on­line. Us­ing ma­chine learn­ing and deep learn­ing al­go­rithms, ev­ery source is clas­si­fied and scored and ev­ery mes­sage is con­verted to fi­nan­cial con­text. In­sights are gen­er­ated and vi­su­al­ized through wid­gets.”

Ajay Tyagi, Chair­man, Sebi and J Ravichan­dran, Group Pres­i­dent, NSE at the bell-ring­ing cer­e­mony, to mark the launch of ‘NSE goBID’

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