The trader workstation is the terminal from which broker accesses the National Stock Exchange’s (NSE’s) trading system. Each trader has a unique identification by way of the broker ID through which he/she is able to log on to the system for trading or enquiry. A broker can have more than one identification option allotted to him/her by which they can have more than one employee using the system concurrently.
In all top stock trading networks, it is possible to trade in a large number of shares, if the customer and the broker are able to establish their credentials properly. In earlier times, some of the brokers even went off the hook because they could manipulate things and it was difficult to monitor as to who was the real culprit.
A major change has come about with the advent of the online trading platforms. Today, it is possible for the regulatory authorities to check out as to who is responsible for the sale of a particular share. Since the data is stored in secured data storage mediums, the actual data can be sourced at a rapid pace.
All customers can trade by logging on their accounts opened through a prominent brokerage. When talking about broker fees, it varies from one brokerage to the other, even though there is little difference between the services on offer. The prominent brokerages have developed the trading software all by themselves and much cost must have been incurred in developing such a system.
Another cost that the brokerages have to meet is in ensuring the security of the system. In Mumbai, some of the brokerages that cater to the needs of customers from abroad now work 24/7 all through the year. With the Indian diasporas having gone all over the world, the number of Non-Resident Indians (NRIs) has now crossed more than 20 million. These people are closely watching the developments taking place back in their home country. They want to be part of the economic developments and enquires now come from all parts of the globe. The prominent brokerages want to cater to this segment of people also. The NRIs do not mind investing considerable sums of money in the stock exchanges.