Specifically, It removes the need for brokers to negotiate deals for the actual clients. We permit a secure login interface for buyers and sellers. They can login to trade at the exchange. At any time, the exchange logic is busy breaking deals between these bids. What we achieve from this is an unrestricted geographical coverage which enhances the total volume of trade.
Also available are statistical support features for the customers to analyze the performance of a particular share. Latest stock market mechanisms like Short Selling are also incorporated.
No. The Parsec paradigm of online trading is broker free. You will be allowed to start a remote session (just a common browser needed at your end) and bid your shares yourself. The exchange maintains an Electronic database of share ownership - this also makes the need for a share certificate passé.
The registration procedure is itself online. Point your browser to our homepage and select the link to User Registration. You will be presented with a form that you are required to fill. Once you are registered, you need to be validated by the stock exchange. This is done by Authenticators. Once this formal procedure is complete, you can keep visiting our page as and when you want to trade your shares. We make available a very friendly online bidding/buying/selling mechanism.
Every customer has to maintain a particular amount with the stock exchange as security deposit. This sum of money will decide the volume of trade open to you. Also, this amount is liable to be confiscated in case a customer short sells and then is unable to transfer the required number of shares.
You are allowed to sell more that what you have. This market concept makes the overall trade volume high. However, in case you short sell, you are suppose to settle the deal after a particular number of days. If a customer is unable to do this - he faces punishment including confiscation of his margin money deposit.
The procedure is simple. After you have authenticated with the exchange server through the login interface, you are presented with your portfolio. Also on the same page are link to Sell shares and Buy shares. Click on what is required. You are asked the name of the share you want to sell/buy. Also required are the number of shares in the bid and the price at which you want to trade. Once you click, your requests is queued up.
Yes. At anytime, a running bid can be cancelled by the bid placer. But bids which have been translated to deals remain committed.
Deals are broken at a fixed frequency. At any time, the bids currently in place are analyzed and based on a particular algorithm, deals are fixed. In case the number of shares in the two bids do not match, the minimum is broken and the rest is queued up again.
Along with deal breaking, the exchange discovers prices for every share type from the bids. This is also done with a fixed frequency.