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Transcript

  • 1. BOLT B SE O n- L ine T rading System Presentation by Dilip Oak Gen. Manager - DOT Bombay Stock Exchange Ltd, Mumbai
  • 2. AGENDA
    • Introduction to On line - screen based trading
    • Need for screen-based trading
    • Features of BOLT
    • Checks & controls on BOLT
    • Trading on BOLT - present & future
    • Key statistics
    • BOLT information provider
    • Conclusion
    • Question & Answer
  • 3. Need for BOLT
    • Poor transparency
    • 15 days + settlement cycle
    • Poor liquidity
    • Computer & Network evolution
    • global trend - globalization
    • Competition
    • Faster spread of equity culture
    • resulted in
    • BSE’s Online Trading System (BOLT)
  • 4. BOLT - BSE On Line Trading System
    • Features :
    • 1 . BOLT Architecture
      • Powerful Back-end – HP 2 x NS16000 (Client server)
      • Windows - NT Front end
      • Efficient Network - Own VSAT HUB
      • Total fault Tolerant - OLTP
      • High Reliability and availability
      • 80 x 146 GB Disks
  • 5. 2. Establishing reliable connectivity - Network Ethernet Based VSAT Based Leased lines (MLDN) 3. Supported by * Help Desk facility * Contingency Pool
  • 6. TYPES OF ORDERS
    • 4. Orders
    • - Limit orders
    • - Market orders
    • - Hit/Take orders
    • - Odd lot orders
    • - Buy-back order facility
    • - Stop loss orders
  • 7. Features of Orders
    • Retention , net position, oddlot
    • Colour schemes, background colour
    • Institutional ID - Client, Own, FI, WH
    • Batch Entry - Orders / auction offers
    • Total quantity & revealed quantity - dripfeed
  • 8.
    • 5. 6A / 7A Interactive trade confirmation
    • 6. Control mechanism
    • - Daily circuit filters
    • - Capital Adequacy check (Intra-day trading limits)
    • - Gross Exposure check
    • - Trader-wise controls
    • - Yes or No - Binary control
    • - Exposure limit
    • - Buy - limits / sell - limits
    • - Scripwise control limits
    • - Groupwise control limits
    • - User activation / deactivation
    • - User password authentication
  • 9.
    • 7. Auction
    • - Sessions
    • - Offer entry
    • - Matching
    • - Auction Report download
  • 10.
    • 8 . Broadcast
    • - Market view
    • - Best five quotes
    • - Total depth - buy and sell
    • - Last traded rate & quantity
    • - Trades / values / volume
    • - Lower / upper circuit limit rate
    • & weighted Avg. rate
    • - Open / high / low / close
    • - Touch line - configurable
  • 11.
    • 9. Total dematerialisation
    • - Exceptional Physical trades (Exit route)
    • - Complete Rolling settlement T + 2
  • 12.
    • 10. On-line facility
    • - Sauda book
    • - Report downloading (dload)
    • - BSE News - Ticker facility
    • - Net position - scripwise /clientwise
    • - Trade / Broker query file download
    • - Derivative Touchline
  • 13.
    • Scrip Help
    • - Ex-dates
    • - Book Closure
    • - No Delivery period
    • - Standard Rate
    • - ISIN No.
    • - Dividend
    • - Special margins - buy / sell
    • 11. Admin Terminal - Master Terminal
  • 14.
    • 12. Country-wide SPREAD
    • - 400 cities
    • - 14500 terminals
    • - 900 members
  • 15.
    • 13. Response Time
    • - Less than 1 seconds - will be reduced further
    • - Matching logic - rate & time stamp
    • - Confirmation of trades - display -
    • update suada book
    • - Refreshing touchline & market view
  • 16.
    • 14. Trading Backed by Risk Management
    • - Trade Guarantee Fund
    • - Customer Protection Fund
    • - Margin Mechanism
    • - Daily margin
    • - VaR margin
    • - Volatality margin
    • - Mark to market margin, etc.
  • 17. Downloading facilities
    • Trade data
    • Member query data / breakup data
    • Net position (clientwise / scripwise)
    • Auction Data (offers / D.O./Money statement /Entl. Rep)
    • Settlement related data
    • Money statement, delivery orders, margin, B/S etc.
    • Daily price movement (Open/High/Low/Close/Value/Volume)
    • Trade statistics
    • Notices
    • LSFD (Data /exe)
    • No delivery / Margin data
  • 18. Daily Trading Sessions on BOLT
    • Opening Session 08.45 a.m. To 09.00 a.m.
    • Log-in Session 09.00 a.m. To 09.55 a.m.
    • Continuous Session 09.55 a.m. To 03.30 p.m.
    • Closing Session 03.30 p.m. To 03.50 p.m.
    • Post Closing Session 03.50 p.m. To 04.15 p.m.
    • 6A/7A / Member Query Session 04.15 p.m. To 05.30 p.m.
  • 19. Check & controls on BOLT
    • - Member level
    • - Registration / activation / de-activation (member TWS)
    • - Password mechanism thru unique user ID
    • - Master Terminal Concept (traderwise controls)
    • - Private view (modify / deletion of order )
    • - Capital adequacy / gross exposure check
    • - Hidden identity
    • - System level
    • - TMF for data integrity
    • - Scrip level
    • - Circuit filters
    • - Tick sizes
    • - Suspension of scrip
    • - Terminal / user level event log
  • 20. Advantages of BOLT
    • Transparency of trades
    • Enhancement of market quality thru liquidity
    • Reduction in settlement Risk (guaranteed settlement)
    • Faster settlement T + 2
    • Improved access to sensitive information
    • Effective dissemination of information thru DATA FEED
    • Simplicity in broker back office operations
    • Increases geographical spread
  • 21. Thank You