9/07/10
Dear Moderator & all,
This refers to your mail. I'll try to explain as best I can do!!
There are TWO basic platforms 1) OFF LINE & 2) ON LINE
1) Off Line - a) In this, client can place orders on telephone.
b) He can visit DEALING ROOM of broker, trade from
his terminal with the help of DEALER.
(Dealer is a person appointed by broker to
place order on exchanges). Many times, he is the
same person attending telephone calls from
other clients and executing orders.
2) On Line - Basically this is Internet based activity. It has also TWO
variety i) Browser Based & ii) Web Based.
i) Browser Based - Here one visits web site of Broker, logs in
using ID and PW. There may be separate
password for Trading. We ned to get quote, place order and wait
for confirmation. To know that order is executed or not,
one has to log in and check. You do not see REAL TIME price variation.
If speed of browser
is low in accessing the site of broker, actual price of
execution may change OR order may not be executed.
By and large, all brokers started with above all facilities.
ii) With technology advancement and introduction of broad band,
users demanded REAL TIME PRICE
DISPLAY and order placement. All (Majority) brokers had link
with exchanges for RT display and order
execution. The dealing room was a part of his own network,
where RT display and order placement was
possible. M/s Financial Tech. came out with a solution called
ODIN (OPEN DEALER INTEGRATED
NETWORK). Initially it was browser based only. That means, you
need to access broker's web site, then
log on. However, with the real time price display of selected
stocks on screen and order placing link. This
made work faster. There was limit of number of scrips to display.
Improvement in ODIN software, by making WEB base SW, it became
easy to see RT price on user's screen.
This also removed limit of stocks to display. Here, just click
of link, you are on the web site of broker. As a matter of
fact you have almost everything what broker's dealing room had.
In this regard few brokers developed their own platform. India Bull &
Edelweiss have developed their own platform,
PIB and Xtreme, respectively.
I had demo of many in Pune. My personal opinion about Edelweiss is that
it is number one. As a broker service is good, Research support is very
good.
Ultimately, SERVER, your broker's OR your Internet Service Providor, is
a key factor of operation.
I hope I could put thing in simple words.
Thanks
Ravi Deshpande
Happy Trading,
United we grow!!!
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