Online Trading & Settlements Study

A
PROJECT REPORT
ON
A STUDY ON INVESTORS AWARENESS TOWARDS ONLINE TRADING &
SETTLEMENTS AT ANGEL BROKING
MASTER OF MANAGEMENT STUDIES (MMS)
UNIVERSITY OF MUMBAI
SUBMITTED TO
SINHGAD INSTITUTE OF BUSINESS MANAGEMENT
CHANDIVALI
UNDER THE GUIDANCE OF
Dr. SONALI KALE
SUBMITTED BY
AMAR RAJARAM GANGAVANE
(2017-19 & ROLL NO.19)
FINANCE

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CERTIFICATE
This is to certify that Amar Rajaram Gangavane has successfully
completed the project work as a part of academic fulfillment of Masters of
Management Studies (M.M.S.) semester IV examination.
PROF.SONALI KALE
Name & Signature of Project guide
Date:
Director
SIBM

3
DECLARATION
I, Amar Rajaram Gangavane of Master of Management Studies
(Sem-IV) of Sinhgad Institute Of Business Management (SIBM), hereby
declare that I have successfully completed this Project on “A STUDY ON
INVESTORS AWARENESS TOWARDS ONLINE TRADING &
SETTLEMENTS AT ANGEL BROKING”in the academic year 2018-2019.
The information incorporated in this project is true and original
to the best of my knowledge.
Place:
Amar Rajaram Gangavane
Signature
Date:

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ACKNOWLEDGEMENT
I hereby express my heartiest thanks to all sources who have contributed to
the Making of this project . I oblige thank to all those who have supported,
provided their valuable guidance and helped for the accomplishment of this
project.
I am thankful to University of Mumbai for giving me such a challenging task
to explore the urbanization which includes not only thinking and analyzing
various facts and updates about real work.
I am very much grateful to my project guide Dr.Sonali Kale

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INDEX
Sr.No. CONTENT Pg.
No.
1 ACKNOWLEDGEMENT 4
2 LIST OF TABLES 6
3 LIST OF FIGURES 6
4 EXECUTIVE SUMMARY 7
5 CHAPTER I :INTRODUCTION 8
6 CHAPTER II : PROFILE OF THE ORGANIZATION 26
7 CHAPTER III : RESEARCH METHODOLOGY 41
8 CHAPTER IV : DATA ANALYSIS AND
INTERPRETATION
44
9 CHAPTER V : FINDINGS AND SUGGESTIONS 55
10 CHAPTER VI : CONCLUSION 56
11 BIBLIOGRAPHY 57
12 APPENDIX 58

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LIST OF TABLES
LIST OF FIGURES
Content Page
No.
Figure1.1 Trading Network 15
Figure1.2 Corporate hierarchy 16
Clearance account process 23
Flow chart to effect clearing and settlement of market trades 25
Process of Online Trading 44
Content Page
No.
Table 1.1 Angel Classics 27
Angel preferred 28
Angel Premier 28
Angel Elight 29
Stock Market 45-47

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EXECUTIVE SUMMARY
“Change is the law of nature”. There were times when man was a wanderer or a normal. He himself
had to go place to place in search of food, water and now everything is available at your doorstep
just at the click of the mouse. The growth of information technology has affected almost all sectors
of life. Internet has enabled us to get every information at our doorstep. When Internet has affected
all sectors he could “stock markets” the most important player of the economy, has remained far
behind? Like all other sectors Internet has set its feet in the stock markets also. Online trading
services manage a lot of transactions per day. Users can contact a client, via the Internet, and view
or revise investments, query the latest stock information, and purchase or trade shares. The client
software can ask for trade information from many sources. Therefore, the client must stay to the
distributed computing model to gain data from external servers. Web services a technology that is
used to realize these tasks. This project presents a simulation of the how trading companies can
interface with web services, and tap into external sources to get information. A fictitious web-based
trade system, Portfolio Manager, is introduced to exhibit

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CHAPTER I :
INTRODUCTION TO THE STUDY
Stock exchange is an organized market place where securities are traded. These securities
are issued by the government, semi-government bodies, public sector undertakings and companies
for borrowing funds and raising resources. Securities are defined as any monetary claims (promissory
notes or I.O.U) and also include shares, debentures, bonds and etc., if these securities are marketable
as in the case of the government stock, they are transferable by endorsement and alike movable
property. They are tradable on the stock exchange. So are the case shares of companies.
Under the Securities Contract Regulation Act of 1956, securities’ trading is regulated by
the Central Government and such trading can take place only in stock exchanges recognized by the
government under this Act. As referred to earlier there are at present 23 such recognized stock
exchanges in India. Of these, major stock exchanges, like Bombay Stock Exchange National Stock
Exchange, Inter-Connected Stock Exchange, Kolkata, Delhi, Chennai, Hyderabad and Bangalore etc.
are permanently recognized while a few are temporarily recognized. The above act has also laid down
that trading in approved contract should be done through registered members of the exchange. As per
the rules made under the above act, trading in securities permitted to be traded would be in the normal
trading hours (10 A.M to 3.30 P.M) on working days in the trading ring, as specified for trading
purpose. Contracts approved to be traded are the following:
A. Spot delivery deals are for deliveries of shares on the same day or the next day as the payment is
made.
B. Hand deliveries deals for delivering shares within a period of 7 to 14 days from the date of contract.
C. Delivery through clearing for delivering shares with in a period of two months from the date of the
contract, which is now reduce to 15 days.(Reduced to 2 days in demat trading)
D. Special Delivery deals for delivering of shares for specified longer periods as may be approved by
the governing board of the stock exchange

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HISTORY OF STOCK EXCHANGE
The origin of the Stock Exchanges in India can be traced back to the later half of 19th century. After
the American Civil War (1860-61) due to the share mania of the public, the number of brokers dealing
in shares increased. The brokers organized an informal association in Mumbai
named “The Native Stock and Share Brokers Association in 1875”.later evolved as Bombay stock
exchange.
Increased activity in trade and commerce during the
First World War and Second World War resulted in an increase in the stock trading. The Growth of
Stock Exchanges suffered a set after the end of World War. World wide depression affected them
most of the Stock Exchanges in the early stages had a speculative nature of working without technical
strength. After independence, government took keen interest to regulate the speculative nature of
stock exchange working. In that direction, securities and Contract Regulation Act 1956 was passed,
this gave powers to Central Government to regulate the stock exchanges. Further to develop
secondary markets in the country, stock exchanges established at Mumbai, Chennai, Delhi,
Hyderabad, Ahmedabad and Indore. The Bangalore Stock Exchange was recognized in 1963. At
present there are 23 Stock Exchanges.
Till recent past, floor trading took place in all Stock Exchanges. In the floor trading
system, the trade takes place through open outcry system during the official trading hours.
Trading posts are assigned for different securities where by and sell activities of securities took
place. This system needs a face – to – face contact among the traders and restricts the trading
volume. The speed of the new information reflected on the prices was rather than the investors.
The Setting up of NSE and OTCEI (Over the counter exchange of India with the screen
based trading facility resulted in more and more Sock exchanges turning towards the computer based
trading. BSE introduced the screen based trading system in 1995, which known as BOLT (Bombay
on – line Trading System).
Madras Stock Exchange introduced Automated Network Trading System (MANTRA) on
October 7, 1996 Apart from Bombay Stock Exchanges have introduced screen based trading.

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FUNCTIONS OF STOCK EXCHANGE
Maintain Active Trading: Shares are traded on the stock exchanges, enabling the investors to
buy and sell securities. The prices may vary from transaction to transaction. A continuous trading
increases the liquidity or marketability of the shares traded on the stock exchanges.
Fixation of Prices: Price is determined by the transactions that flow from investors demand and the
supplier’s preferences. Usually the traded prices are made known to the public. This helps the
investors to make the better decision.
Ensures safe and fair dealings: The rules, regulations and bylaws of the Stock Exchanges
provide a measure of safety to the investors. Transactions are conducted under competitive
conditions enabling the investors to get a fair deal.
Aids in financing the Industry: A continuous market for shares provides a favorable climate
for raising capital. The negotiability and transferability of the securities, investors are willing to
subscribe to the initial public offering (IPO). This stimulates the capital formation.
Dissemination of Information: Stock Exchanges provide information through their various
publications. They publish the share prices traded on their basis along with the volume traded.
Directory of Corporate Information is useful for the investor’s assessment regarding the corporate.
Handouts, handbooks and pamphlets provide information regarding the functioning of the Stock
Exchanges.
Performance Inducer: The prices of stocks reflect the performance of the traded companies.
This makes the corporate more concerned with its public image and tries to maintain good
performance.
Self-regulating organization: The Stock Exchanges monitor the integrity of the members, brokers,
listed companies and clients. Continuous internal audit safeguards the investors against unfair trade
practices. It settles the disputes between member brokers, investors and brokers.

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REGULATORY FRAME WORK
This Securities Contract Regulation Act, 1956 and Securities and Exchange board of India
(SEB1) Act, 1992, provides a comprehensive legal framework. A 3-tier regulatory structure
comprising the ministry of finance, SEB1 and the Governing Boards of the Stock Exchanges
regulates the functioning of Stock Exchanges.
Ministry of finance: The Stock Exchange division of the Ministry of Finance has powers related
to the application of the provision of the SCR Act and licensing of dealers in the other area. According
to SEBI Act, The Ministry of Finance has the appellate and the supervisory power over the SEBI. It
has powered to grant recognition to the Stock Exchange and regulation of their operations. Ministry
of Finance has the power to approve the appointments of executives chiefs and the nominations of
the public representatives in the government Boards of the Stock Exchanges. It has the responsibility
of preventing undesirable speculation.
The Securities and Exchange Board of India
The Securities and Exchange Board of India even though established in the year 1988.
Received statutory powers only on 30th January 1992. Under the SEBI Act, a wide variety of powers
are vested in the hands of SEBI. SEBI has the powers to regulate the business of Stock Exchanges,
other security and mutual funds. Registration and regulation of market intermediaries are also carried
out by SEBI. It has responsibility to prohibit the fraudulent unfair trade practices and insider dealings.
Takeovers are also monitored by the SEBI has the multi pronged duty to promote the healthy growth
of the capital market and protect the investors.
The Governing Board of stock exchanges: The Governing Board of the Stock Exchange consists
of elected members of directors, government nominees and public representatives. Rules, by laws
and regulations of the Stock Exchange substantial powers to the executive director for maintaining
efficient and smooth day-to day functioning of Stock Exchange. The Governing Board has the
responsibility to maintain and orderly and well-regulated market.
The Governing body of the Stock Exchange consists of 13 members of which
A. Six members of the Stock Exchange are elected by the members of the Stock Exchange.
B. Central Government nominates not more than three members.
C. The board nominates three public representatives.
D. SEBI nominates persona not exceeding three and
E. The Stock Exchange appoints one Executive Director.
One third of the elected members retire at annual general meeting (AGM). The retired
member can offer himself for election if he is not elected for two consecutive years.

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NATIONAL STOCK EXCHANGE
The National Stock Exchange (NSE) of India became operational in the capital
market segment on third November 1994 in Mumbai. The genesis of the NSE lies in the
recommendations of the pherwani committee (1991). Apart from the NSE. It had recommended for
the establishment of National Stock market System also. The committee pointed out some major
defects in the Indian stock market. The defects specified are.
1. Lack of liquidity in most of the markets in terms of depth and breadth.
2. Lack of ability to develop markets for debt.
3. Lack of infrastructure facilities and outdated trading system.
4. Lack of transparency in the operations that affect investors’ confidence.
5. Outdated settlement system that are inadequate to cater to the growing volume, leading to
delays.
6. Lack of single market due to the inability of various stock exchanges to function
cohesively with legal structure and regulatory framework.
These factors led to the establishment of the NSE.
The main objectives of NSE are as follows
1). To establish a nation wide trading facility for equities, debt and hybrid instruments
2). To ensure equal access investors all over the country through appropriate
communication network.
3). To provide a fair, efficient and transparent securities market to investors using an
electronic communication network.
4). To enable shorter settlement cycle and book entry settlement system.
5). To meet current international standards of securities market.
Promoters of NSE: IDBI, ICICI, IFCI, LIC, GIC, SBI, Bank of Baroda. Canara Bank,
Corporation Bank, Indian Bank, Oriental Bank of Commerce. Union Bank of India, Punjab
National Bank, Infrastructure Leasing and Financial Services, Stock Holding Corporation of
India and SBE capital market are the promoters of NSE.

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MEMBERSHIP:
Membership is based on factors such as capital adequacy, corporate structure, track
record, education, experience etc. Admission is a two-stage process with applicants requiring
going through a written examination followed by an interview. A committee consisting of
experienced people from the industry to assess the applicant’s capability to operate as an
exchange member, interviews candidates. The exchange admits members separately to Wholesale
Debt Market (WDM) segment and the capital market segment. Only corporate members are
admitted on the debt market segment whereas individuals and firms are also eligible on the capital
market segment. Eligibility criteria for trading membership on the segment of WDM are as
follows.
1). The persons eligible to become trading members are bodies corporate, companies
institutions including subsidiaries of banks engaged in financial services and such other persons
or entities as may be permitted form time to time by RBI/SEBI.
2).The whole-time directors should possess at least two years experience in any activity
related to banking or financial services or treasury.
3).The applicant must possess a minimum net worth of Rs.2 crores.
4).The applicant must be engaged solely ion the business of securities and must not be
engaged in any fund-based activities.
The eligibility criteria for the capital market segment are;
1). Individuals, registered firms, bodies corporate, companies and such other persons may be
permitted under SCRA, 1957.
2). Applicant must be engaged in the business of securities and must not be engaged in any fund-
based activities.
3). Minimum net worth requirements prescribed are as follows;
a). Individual and registered firms – Rs.100 Lacs.
b).Corporate bodies – Rs. 100 Lacs.
4). Minimum prescribed qualification of graduation and two years experience of handling
securities as broker, sub-broker, authorized assistant, etc must be fulfilled by
a) Minimum two directors in case the applicant is a corporate
b). Minimum two partners in case of partnership firms and
c). Individual, in case of individual or sole proprietary concerns.
The two experienced director in a corporate applicant or trading member should hold minimum
of 5% of the capital of the company.

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INTRODUCTION TO ONLINE TRADING
Gone are the days of trading on the floor. Technology has changed the landscape of the
stock markets. The look of the stock exchanges has undergone metamorphic changes in the recent
years. Prior to online trading, regional stock exchange was playing a very important role in capital
markets, as they were local investors. Regional SE, which was unable to interact with other SEs
started developing this own screen based trading and connecting to other scrip’s which were not
available with them. This also helped in accessing the quotes and other market information from
other stock exchange which proved vital in the functioning of the system as a whole.
The trading network is depicted in given below NSE has main computer which is connected
through Very Small Aperture Terminal (VSAT) installed at its office. The main computer
runs on a fault tolerant STRATUS mainframe computer at the Exchange. Brokers have
terminals (identified as the PCs in the given picture) installed at their premises which are
connected through VSATs/ leased lines/modems. An investor informs a broker to place an
order on his behalf. The broker enters the order through his PC, which runs under Windows
NT and sends signal to the satellite via VSAT/leased line/modem. The signal is directed to
mainframe computer at NSE via VSAT at NSE’s office. A message relating to the order
activity is broadcast to the respective member. The order confirmation message is
immediately displayed on the PC of the broker. This order matches with the existing passive
order(S) otherwise it waits for the active orders to enter the system. On order matching, a
message is broadcast to the respective member.

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TRADING NETWORK
HUB
ANTENNA SATELITE
NSE MAINFRAME BROKERS PREMISES

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CORPORATE HIERARCHY
The Trading member has the facility of defining a hierarchy amongst its users of the NEAT system.
The hierarchy comprises:
The users of the trading system can logon as either of the user type. The significance of
each type is explained below:
A. Corporate Manager: The corporate manager is a term assigned to a user placed at the highest
level in a trading firm. The facility to set Branch order value limits and user order value limits is
available to the corporate manager.
B. Branch Manager: The branch manager is term assigned to a user who is placed under the
corporate manager. The branch manager can set user order value limits for each of his branch.
B. Dealer: Dealers are users at the lower most level of the hierarchy. A dealer can view and perform
order and related activities only for oneself.
OBJECTIVES OF ON-LINE TRADING:
 Reduce and eliminate operational inefficiencies inherent in manual system.
 Increased trading capacity in stock exchanges.
 Improve market transparency, eliminate unmatched trades and delayed reporting.
 Provides for online and offline monitoring, control and surveillance of the markets.
 Promote fairness and speedy matching.
 Ensure smooth market operations using technology while retaining the flexibility of
conventional trading practices.
 Setup various limits rules and controls centrally.
Corporate Manager
Dealer 11 Dealer 12
Branch 1
Dealer 1
Branch 2
Dealer 2

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 Provide brokers with their data on electronic media interface with the brokers back office
system.
 Provide public information on scrip prices, indices for all users of the system.
 Provide analytical data for use of stock exchange in analysis and reporting
 To face stiff competition from other stock exchange.
 Consolidate trader’s data and interface with clearing and settlement.
PLACEMENT OF ORDER:
The next step in planning of order for the purchase or sale of Securities with the broker.
The order is usually by telegram, telephone, letter, fax etc., or in person. To avoid delay it is placed
generally over the phone. The orders may take any one of the forms such as at best order, limit order,
immediate or cancel order, discretionary order, limited discretionary order, open order and stop loss
order.
ENTRY OF ORDER INTO THE BOOKS:
After receiving the order, the member enters them in his books and the purchase and sale
orders are distributed among his assistants to handle them separately in non-specified and odd-lots.
EXECUTION OF ORDER:
Big brokers transact their business through their authorized clerk. Small ones out their
business personally. Orders are executed in the trading ring of the ISE. This works from 12:00 noon
to 2:00 p.m discretionary order on all working days from Monday to Friday and a special hour session
on Saturday.
The floor of the stock exchange is divided into number of markets (pits) according to the
nature of security deal in. The authorized clerk/broker goes to the pit and jobbers offer two way
quotes for the scrips they deal in. they act as market makers and provide liquidity to the market. The
system has been designed to get the bet lids and offers from the jobber’s book as well as the best buy
and sell orders from the book. If the quotation is not acceptable to the brokers, he may make a counter
bid/offer
Ultimately the bargains may be closed at a price mutually acceptable to both the parties.
In case the quotation is not acceptable to him, the broker may go to another dealer and make a bargain.
All bargains on the stock exchanges are settled by word of mouth and there is no written contract
signed immediately by the parties concerned. Once the transaction is finalized, the deals are recorded

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PREPARATION OF CONTRACT NOTES:
Usually, the authorized clerks enter the particulars of the business transacted during a
particular day in ‘Kacha Sauda Book’ they are transferred to ‘Pucca Sauda Book’, which are
maintained separately for the ready delivery contracts. Then the broker/authorized clerk prepares a
contract note. A contract note is a written agreement between the broker and his client for the
transaction executed. It contains the details of the contract made for the purchase/sale of Securities,
the brokerage chargeable, name of the company, number of shares bought/sold, net rate, etc., it is
prepared in a prescribed from and a copy of it is also sent to the client.
 PLACING ORDER WITH THE BROKER:
The next step is placing an order for the purchase/sale of securities with the broker. The order is
usually placed over telephone, fax. It can also take the form of telegram or letter or in person. The
order placed may be any of the following varieties (largely classified on the basis of price limits that
it imposes.).
 AT BEST ORDER (OR) BEST RATE ORDER:
“Buy 1000 XYZ ltd.”, it does not specify any price. It means buy XYZ Ltd. Securities at the
prevailing market price. These are executed very fast as there is no price limits.
 LIMIT ORDER:
“Buy 100 XYZ Ltd. At Rs 100”, it is an order for the purchase of shares at a specified price by the
client. (Rs 100)
 LIMITED DISCRETIONARY ORDER:
“Buy 1000 XYZ Ltd., around Rs.100”. It gives discretion to the broker. The price can be a little above
Rs 100. How much discretion is implied depends on how the broker and client define around.
 OPEN ORDER:
It is an order to buy or sell without fixing any time or price limit on the execution of the order.

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CLEARING HOUSE
The exchange has a clearing house as a part of its Market Operations Department to collect
the securities from all members and distribute to each member, all the securities that are due to him
in respect of every settlement. The whole of the operations of the clearing house are computerized.
CH is like are bank where all the members of ISE maintain their accounts. CH acts as a member
between the buyer and seller. It gets a record of all the transactions (buying and selling) done by a
particular week and process these transactions and directs the members to deliver the shares or make
payment on the pay-in day.
On the payout day, the CH gives the delivery and the payment to the members according
to their respective positions. There are 5 counters in the ISEs, CH where bad deliveries, auction, odd-
lot shares transaction, spot transaction etc.., are dealt in respect of all the transactions done from
Monday to Friday all the shares will have to be delivered through the ISEs CH as per the settlement
program field, which is generally, a Saturday on next.
NORMAL TRANSACTION:
In case of regular transaction, shares are deposited in clearing house on Tuesday and
Wednesday. Payout will be on Thursday. Deliveries will also be on Thursday.
ADVANTAGES OF INTERNET TRADING
 It will help in reducing transaction costs particularly for overseas and remote located
investors.
 It will provide real time quotes and on-line trading facility at a much cheaper cost.
 Facility of transaction business from the terminal of the investors and will help him
making rational judgment or decisions.
 It will bring down the brokerages fees and increases the trading volumes.
 Quick response in transaction i.e. giving the order verification and acknowledgement.
 It allows transparent companies of services and easy price discovery.
 It is easy enough to set up either as individual account for margins trading or settle
transactions by credit card.
 It is easy for brokers to monitor and maintain online accounts and the possibility of
miss-trading is less.
 Surveillance is easy as there is very less scope for speculation
 The investor is provided with best offer
 Trading procedure is easy and fully automated.

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Easier transaction processing.
Profit in time: Investor can make profits by selling shares when the going is good. They do not have
to instruct their brokers on the cut off price to sell shares.
Ease and transparency: Since the broking, bank and demat account are all electronically connected,
all transaction get updated, demat account shows the latest stockholding statement while the bank
account shows the balance amount after buying or selling of shares.
Precaution: Check for hidden costs of broker’s age. Beware of net seamstress. Never double click the
mouse during execution of trade avoids cyber cafes and change password regularly.
Less fees: shares traded online require no human intervention to match buys and sells. This means
that commission costs are cut dramatically for the frequent investor.
PROBLEMS OF ONLINE TRADING
 All the stock exchanges in India were mechanized in the year 1994 November. That was
the year when the stock exchanges introduced screen based trading across the country.
 While on line trading gives you speed and price advantage, there is some risk and
disadvantage to entering orders on-line. The page alerts you to any pitfalls you should
watch out for if you want to use the internet to trade stocks.
 If you do commit to trading online, you must be careful when you enter stock orders. It is
easy to make mistakes, but the market and your brokers may not be sympathetic. Once an
order is submitted, there may be nothing you can do to take it back if you made a mistake.
The various types of orders you enter can be confusing.
 Individuals are restricted to first hand financial guidance. This simply means that the
individual is himself/herself alone to make the decisions.
 Tax (sales tax and value added tax) evaluation becomes an issue, especially when you are
trading internationally.
 Changes are that one has no idea who is dealing with on the other end, so it is advisable to
gather all the possible information about the party one is dealing with. In short are full
knowledge is to be known.
 Online trading as left individual open to too much information. This is harmful since it
leaves brokerages wide open to sensitive data.
When network crashes there will be problems and delays due to a large influx of traffic
and rapid online trading criteria.

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DEMATERIALSATION
Dematerialization is a process by which physical shares of investors are converted to an equivalent
number of Securities in electronic form and credited in the investor’s account with his Depository
Participant.
Dematerialized trading is now compulsory for all investors. Beginning of first week of
January 1999, investor can trade in specific scripts in the Demoralization form. They can provide and
receive delivery only in a Dematerialized form and share certificate will not be changed for these
scripts.
A depository is an organization where Securities of shareholder are held in the electronic
form at the request of the shareholder through Depository Participant (DPs). The system is
comparable to that in a bank. If an investor wants services offered by a depository, he would have to
open an account with it through a DP- similar to opening an account with any other branches of the
bank in order to avail of its services.
Dematerialization is a process by which physical certificates of an investor are taken
back by the company/registrar and actually destroyed and an equivalent number of Securities are
credited in the depository account of those investors. A Depository Participant is investor’s agent in
the system. He maintains investor’s Securities account and intimates the status of holdings from time
to time to the investor.
Basic Terminologies on Demat Settlement
Refers to the process whereby all those who have made purchases make a
payment and all those who have made sales deliver shares. The exchanges ensure that the
buyers who have paid for the shares purchased by them receive the shares. Similarly sellers
who have given delivery of shares to the exchange receive payment for the same.
SETTLEMENT CYCLES: Settlement Cycle refers to a calendar according to which all
purchase and sale transactions done within the dates of the settlement cycle are settled on a
net basis. NSE and BSE currently follow daily settlement cycles.
In a rolling settlement, each trading day is considered as a trading period and trades
executed during the day are settled based on the net obligations for the day. At NSE and BSE,
trades in rolling settlement are settled on a T+2 basis i.e. on the 2nd
working day. For arriving
at the settlement day all intervening holidays, which include bank holidays, NSE/BSE
holidays, Saturdays and Sundays are executed. Typically trades taking place on Monday are
settled on Wednesday, Tuesday’s trades settled on Thursday and so on.

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PAY IN & PAY OUT: Pay In refers to your obligations towards the exchanges and Pay Out refers to
exchange obligation towards you. All Pay Ins and Pay Outs take place on a “T+2” days basis, where
“T” is the trading day and plus two more trading days. So if you buy some shares on Monday, you
would have to pay money which is a Pay In and you would receive shares, which is a Pay Out. Both
of these would take place ion Wednesday.
LIMIT ORDER: Limit Orders allow you to place a buy/sell order at a price defined by you. The
execution can happen at a price more favorable than the price that has been defined by you. You can
place limit orders during holidays & non-market hours too.
Market Orders: Market Orders can be placed only during market hours (i.e. when the exchanges is
open for trading). Market Orders have different interpretations for both NSE and BSE.
SQUARE OFF: Square Off means buying and selling, selling and buying on the same day. For
example, if you have bought 100 ` shares of INFTEC today morning and later on at the end of
the day, if you sell INFTEC, 100 shares, it just means that you have squared off your order.
1. OPENING CLEARING ACCOUNTS FOR SETTLEMENT OF TRADES:
All the trades executed at the exchanges are settled by the clearing member (CM), as in
the case of Securities in the physical form. To settle trades in Demat segment each CM should open
one clearing account with any of the DP.
The procedure for opening clearing accounts is:
 Approach a DP.
 Fill up an account opening form.
 Sign on an agreement with the DP.
 Application is forwarded to NSDL by DP.
 NSDL allots a number identified as CM-BP-ID.
 DP opens account and an account number is providing along with CM-BP-ID to the clearing
member.
The clearing account consists of three parts:
 Pool account
 Delivery account
 Receipt account

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1. POOL ACCOUNT:
It has two roles to play in clearing of securities,
 Before pay in the selling client of the CM transfers Securities from his client account to the CM
pool account.
 The CM transfers the Securities from his pool account to the account of the buying client.
2. DELIVERY ACCOUNT:
The CM transfers the Securities in, from the pool account to the delivery account before pay in,
at the time of pay- in NSDL flushes out the securities in the delivery account and transfers the same
to the CC/CH.
3. RECEIPT ACCOUNT:
On pay –out day, the CC/CH transfers Securities to the pool account through the account.
CM has to ensure that before book closure or record date of any company the
Securities are moved from CM pool account to a beneficiary account as holding in pool
account for longer period is not allowed.
2. SETTLEMENT:
In the depository system, any trade that is cleared and settled through the clearing corporation
(CC/CH) is called market trade.
Procedure for pay-in of securities
 Give Receipt instruction to the DP for transfer of Securities from client account to the pool
account or give a standing instruction for the same.
CLEARING
ACCOUNT
DELIVERY
ACCOUNT
POOL ACCOUNT RECEIPT
ACCOUNT
SELLING
CLIENT
BUYING
CLIENT

24
 Delivery to CC/CH instruction for the transfer of Securities from pool and account to delivery
account for pay-in.
Both pay-in and pay-out happens to be on 5thworking day after the trading and the
instruction to transfer the Securities from the pool account to delivery account must be given before
pay-in such that this transfer is affected before pay-in. the transfer instruction is taken as an authority
to transfer the security irrespective of when the client gives the delivery instruction, the Securities
will be parked in the delivery account till final pay-in and the facility of multiple instructions from
the pool account is also provided to the investors.
In case of excess transfer of shares to the delivery account or excess delivery to CC/CH
the instruction slip can be cancelled and
issued new one or the CC/CH will return the Securities at the time of pay-out respectively.
Procedure for pay-out of securities
 Transfer of Securities from CC/CH to pool account through receipt in account on pay-out.
 Delivery instruction to transfer from pool account to client on pay-out.
On the delivery of the instruction from the client’s name, client’s DP, ID and DP name of
the client must be mentioned and ensure that receipt instruction given by client to receive the
Securities bears the same execution date as given in the delivery instruction. However, the broker
can hold the Securities in the pool account until the client meets his obligations but before the closure
of books, the balances must be
CLEARING DELIVERY
ACCOUNT
POOL
ACCOUNT
CLEARING RECEIPT POOL

25
FLOW CHART TO EFFECT CLEARING AND SETTLEMENT OF MARKET TRADES
Send receipt instruction for
transfer from client account
to pool account
Give delivery instruction to
your DP for transfer from
pool account to CC
On payout you will receive
securities from CC to your
pool a/c automatically
Give delivery instruction
for transfer of securities
from pool a/c to client a/cs
Any time before or
after pay-out
Any time before
pay-in

26
CHAPTER II:
PROFILE OF THE ORGANIZATION
Incorporated in 1987, Angel Broking has become one of the most respected Stock-Broking
and Wealth Management Companies in India. They adopted a Retail Specific outlook early
on and have since built up a huge network of Branches and Franchises. (More than 900 cities
and 8500 Franchises).
Major Financial News channels regularly feature their Analysts and seek their Expert
Opinion. They have a number of Trading platforms as per the medium of transaction be it
Online, Smart phones, Tablets and Desktops.
The Angel Group is a member of the Bombay Stock Exchange (BSE), National Stock
Exchange (NSE) and the two leading Commodity Exchanges in the country: NCDEX &
MCX. They are also registered as a Depository Participant with CDSL.
The company is a member of the Bombay Stock Exchange(BSE), National Stock Exchange
of India (NSE), National Commodity & Derivatives Exchange Limited (NCDEX) and Multi
Commodity Exchange of India Limited (MCX). It is a depository participant with Central
Depository Services Limited (CDSL). The company has 8500+ sub-brokers and franchisee
outlets in more than 900 cities across India.
The company financial services.
Their services include online stock broking, depository
services, commodity trading and investment advisory services. Wealth management solutions
such as personal loans and insurance are also delivered by this company. In 2006, the
company started its Portfolio Management Services (PMS), IPOs business and Mutual
Funds Distribution (MFD) arm. The company publishes research reports on areas related to
investment broking.

27
Angel Trade Brokerage Charges 2019
Account opening fees:
Stock trading account – Nil
Demat account – Nil
Annual Maintenance Charge- As per Account type
Commodity trading – Nil
Angel Broking’s Account Types:-
1. Angel Classic:-
This account is from a beginner’s point of view. One should pay minimum Rs.10,000 at the
time of account opening, that amount will be later utilized by customer only for trading.
Margin Amount will specify the brokerage which one have to pay during trading.
MINIMUM BROKERAGE FOR TRADING & DELIVERY ONLINE OFFLINE
EQUITY DELIVERY 0.32% 0.40%
EQUITY INTRA TRADE/FUTURES* 0.032% 0.04%
NIFTY OPTIONS* (Per,Lot) Rs40 Rs50
OTHER OPTIONS* ,(Per Lot) Rs80 Rs100
CURRENCY,OPTIONS* (Per Lot) Rs6.4 Rs8
CURRENCY FUTURES* 0.0160% 0.020%
COMMODITY DELIVERY NA 0.30%
COMMODITY FUTURES INTRADAY* 0.0184% 0.023%
For example:- If a person trade for Rs.10000 in equities, then his brokerage will be
rs.32 + 14% service tax on brokerage

28
2. Angel Preferred:-
In this type of account, one have to pay minimum Rs. 25,000, to get brokerage .224%
delivery and .0224% intraday &Future.
(No AMC for 1 Year)
MINIMUM BROKERAGE FOR TRADING &
DELIVERY
ONLINE OFFLINE
rs.22 + 14% service tax on brokerage
3.Angel Premier:
Premier account is for the customers whose initial starting is Rs.50,000 to Rs.99,999. These
customers have to pay low brokerage as .176% delivery and .0176% intraday & future.
DELIVERY
ONLINE OFFLINE
CURRENCY FUTURES* 0.0088 0.011%
For example:- If a person trade for Rs.10000 in equities, then his brokerage will be rs.17.6 +
14% service tax on brokerage.

29
4. Angel Elite:-
Elite account will be used by the customers having initial amount 1 lakh and more. They are
the one who will pay least brokerage under us as brokerage varies as per the initial starting
amount.
DELIVERY
ONLINE OFFLINE
rs.12.8+ 14% service tax on brokerage

30
Brokerage
The brokerage in Angel broking is decided based on the initial margin you provide to open
the account. The concept being the higher the initial margin deposited, higher would be the
trading done by the customer. You can generally negotiate a better brokerage rate with them
once you start trading. Depending on the volume of trade they should be able to provide you
a more competitive rate.
If Initial margin check is more then 25,000
Intraday (Buy & Sell): Rs. 0.04% per trade
Delivery (Buy & Sell): Rs. 0.40% per trade
F&O (Buy & Sell) : Rs. 0.04% per trade
If Initial margin check is more then 50,000
Intraday (Buy & Sell) : Rs. 0.03% per trade
Delivery (Buy & Sell): Rs. 0.30% per trade
F&O (Buy & Sell): Rs. 0.03% per trade
If Initial margin check is more then 1,00,000
Intraday (Buy & Sell) : Rs. 0.02% per trade
Delivery (Buy & Sell) : Rs. 0.20% per trade
F&O (Buy & Sell) : Rs. 0.02% per trade
Angel Broking’s Trading Platforms
Angel Broking offers 4 trading platforms to its customers.
 Angel Broking Web : This is Angels browser based trading platform for which you
don’t have to install anything on your computer. You can login your trading account
through the browser and start trading. It provides functionality like charts, online
trading and fund transfer.
 Angel Mobile App : Angel Brokings’s New Mobile App is a provide mobile based
trading platform for clients who want to trade using there smartphones. The app
provides all the functionality like multiple index real time stock watch, intraday charts
and trading across multiple segments.
 Angel SpeedPro : It is an application based trading platform. The rates are updated
automatically. This platform is useful for investors & traders to access market from
different terminals. But to use this, you have to install the software on your system
which may not be possible for people who are trading using the office computers. It
suits well for Professional Traders.
 Angel Eye : This is a browser based trading platform which helps in managing your
portfolio, trade efficiently. This can be used by clients who trade from office and
cannot install the desktop based software on their computers. They provide trading in
all the segments from here and you can also purchase mutual fund through there
platforms

31
Angel Eye trading platform
ANGEL Eye is a browser based trading Platform which is developed by Angel Broking
Limited. It is a very simple platform to use and you don’t need to install anything for using
this platform. Just go to trade.angelbroking.com and provide your credentials and you should
be able to login.
You will get many features inbuilt in it like historical data of shares, you can check top 5 buy
and sell price of a share, Market Watch, Orders Book, Trade Book & Funds View. It provide
real time market updates. Another important feature provided on Angel Eye in ARQ – Angel
automated intelligent investment engine which provide the best stock recommendation as per
your holding period and risk appetite.
As there is no download required, it is very easy to use. If you are in office, you should be
able to access it over your company firewall.
Steps for use Angel Eye
1. Go to domain name trade.angelbroking.com
2. Access your account. On the market watch, you should be able to add all the equity
which you want to track. The prices show here are real time and you can even
purchase/sell stock directly from this screeen.

32
3.Buying stock is very easy. Just click on buy and provide info like price you want to buy on
and number of shares. As soon as you submit the order, the order will be sent to the exchange
4.Selling also work exactly like you buy shares. You just have to provide details on what
price you want to sell shares you are holding
5.You can also view the charts and do other technical analysis before purchasing the stock

33
6. Funds view and Portfolio provides information on the stocks you are holding and the
funds in your account.
7. Finally ARQ is also provided free of cost to the user of Trade. Just put some basic
information like the amount of money you want to invest and the time frame and it will show
you the best three stock you should be buying based on the information you provide. This can
be thought of the advisory which they are providing free of cost.
Hope this review would have given you a good idea on how to trade using Angel online
platform. We also have a video showing Angel Eye broking trading platform.

34
Angel Eye trading platform
ANGEL Eye is a browser based trading Platform which is developed by Angel Broking
Limited. It is a very simple platform to use and you don’t need to install anything for using
this platform. Just go to trade.angelbroking.com and provide your credentials and you should
be able to login.
and sell price of a share, Market Watch, Orders Book, Trade Book & Funds View. It provide
real time market updates. Another important feature provided on Angel Eye in ARQ – Angel
automated intelligent investment engine which provide the best stock recommendation as per
your holding period and risk appetite.
As there is no download required, it is very easy to use. If you are in office, you should be
able to access it over your company firewall.
Steps for use Angel Eye
1. Go to domain name trade.angelbroking.com
2. Access your account. On the market watch, you should be able to add all the equity
which you want to track. The prices show here are real time and you can even
purchase/sell stock directly from this screeen.
Angel broking trading platform- Speed Pro Review
ANGEL SPEEDPRO is an application Trading Platform which was developed by Angel
Broking Limited. It’s simple platform to trade and you have to install .exe file to use this.
This is provided free of cost when you open account with Angel broking. The software is
basically made to connect to the Internet and adds a Windows Firewall exception in order to
do so without being interfered with. It’s installer includes 52 files and is usually about 117.26
MB.
and sell price of a share, Market Watch, Orders Book, Trade Book & Funds View and even
you can see different charts for intraday trades which are 30 days old. They provide real time
market updates. Multi Desktop Options is their which gives ability to arrange preferred
windows/tools in multiple desktop screens & toggle between them.
It’s simple to download, easy to use and even execute things with low internet speed too.
Steps for installing and using ANGEL SPEEDPRO
Download SPEEDPRO

35
Open the SpeedPro from icon on desktop
Go to buy order, write stock name which you want to buy, fill the required details like shares
quantity, buying type(margin or cash) and place order. You can also just select the stock from
the list and select buy from the top menu. You can use shortcut also for buying the shares

36
Similarly selling order, you can go to sell order and process. Just put details of selling stock
and submit it
If you want to see charts, then go to chart and open chart. Here you can check charts and even
customize it as per what you want to see.

37
You can even check your open positions

38
ARQ by Angel Broking Review
Angel Broking l has come up with a new powerful investment Engine which they call ARQ.
In simple terms, the ARQ is a kind of Robo advisors which based on your present condition
and future requirement, tells you what stocks and mutual funds you should be buying. They
say that they have gone through millions of combinations to come up with these
recommendation which are given based on individual client status.
They have basically broken all the clients in three tier and based on your risk profile . They
are advertising that the return generated by ARQ engine have consistently beaten the sensex.
So this product could be good for someone who strongly feel that they need expert advice
before buying in the markets. Also if you use this, you would not need to take any advisory
service and end up paying a monthly charge for that.
I have used it and it is pretty simple to use. They initially ask you your age, marital status,
income, expense and any other major life goals you may have. Apart from that, they ask you
couple of psychological questions to understand whether you are risk averse or don’t mind
taking excessive risk. Once you have provided them are the answer, they come up with
recommendations. In my case, they came up with three mutual funds, 2 equity and 1 debt and
3 delivery based stock trades. You can directly invest in them by a button provided on the
same page which save you from the hassle of creating the order. Once you purchase, they
also provide you with the tracking facility so that you can track how your investment are
doing.
So this type of tool could be good for someone who want to get a taste of how robo advisory
works. I have not invested any money with them, so would not be able to tell you if the actual
return match what they say. But this is one of the added product which you can use if you are
opening account with Angel broking. There is no extra charge for using ARQ engine and it is
provided by default with your account.
Purchase Mutual fund through Angel broking
NGEL BROKING TRADE is an all in one trading platform which is developed by Angel
Broking Limited and its browser based platform. You don’t need to install it, just open URL,
login and use trade.angelbroking.com
This platform is very simple and easy to use. You will have each facility in this platform like
buy and sell of stocks, Mutual fund, SIP, Funds view etc. It will provide you real time

39
market data. You will get research tips and all through this platform too. Even you can
access it in less internet speed like 2G. Its lite weight to load and use.
Some features of this platform are:-
 Comprehensive Portfolio
 Simple & Secure
 Online Trading
 Research & Market Data
Let’s see the steps to apply for Mutual Fund from ANGEL BROKING TRADE platform.
 Just go to https://trade.angelbroking.com/ and login by putting your Client code and
password
 Now for performing any option in mutual fund segment, you just need to click trade->
select MUTUAL FUND

40
 For buying MUTUAL FUND, click trade-> select MUTUAL FUND->Purchase then
on buy screen put Mutual fund name, scheme name along with the quantity and price.
Finally press buy.
 For selling MUTUAL FUND, click trade-> select MUTUAL FUND->Sell/Redeem
then on sell screen put Mutual fund name, scheme name along with the quantity and
price. Finally press Sell.
 For check Mutual FUND order book, click trade-> select MUTUAL FUND->Order
Book
 Even you can check MUTUAL FUND holdings too, click trade-> select MUTUAL
FUND->Holdings

41
CHAPTER III:
RESEARCH METHODOLOGY
Achieving accuracy in any research requires a deep study regarding the subject. The prime
objective of this research is to know the awareness regarding mutual fund among earning
people.
RSEARCH DESIGN:-
DESCRIPTIVE RESEARCH & CAUSAL RESEARCH DESIGN
Descriptive Research:-
Descriptive research is a study designed to depict the participants in an accurate way. More
simply put, descriptive research is all about describing people who take part in the study.
There are three ways a researcher can go about doing a descriptive research
project, and they are:
Observational, defined as a method of viewing and recording the
Participants
Case study, defined as an in-depth study of an individual or group of
Individuals
Survey, defined as a brief interview or discussion with an individual about a specific
topic
Causal Research Design:-
Causal research, as the name specifies, tried to determine the cause underlying a
given behaviour. It finds the cause and effect relationship between variables. It
seeks to determine how the dependent variable changes with variations in the
independent variable.
For example, a marketer may want to determine the cause of dip in sales. He would test the
sales against various parameters like selling price, competition, geography etc.
The results obtained may not be very straight forward because, more often than not, the
variability will be a factor of more than one variable. Therefore , while varying one variable,
the other variables need to be held constant. This type of research can take two forms:
Experimental – The research performs structured experiments to vary one variable and find
the effect on the behaviour/end result
Simulation based – This uses mathematical formulae to simulate real life scenarios.

42
SAMPLING: - Convenience sampling
Convenience sampling, as the name implies is a specific type of nonprobability
sampling method that relies on data collection from population members who are
conveniently available to participate in study.
Convenience sampling is a type of sampling where the first available primary data source will
be used for the research without additional requirements. In other words, this sampling
method involves getting participants wherever you can find them and typically wherever is
convenient.
SAMPLE SIZE : - “50 UNIT”
Sample size is an important concept in statistics, and refers to the
number of individual pieces of data collected in a survey. A survey or statistic's sample size is
important in determining the accuracy and reliability of a survey's findings.
DATA COLLECTION METHOD
Primary data
Secondary data
PRIMARY DATA:-
Data used in research originally obtained through the direct efforts of the researcher
through surveys, interviews and direct observation.
SECONDARY DATA:-
Secondary data is the data that have been already collected by and readily available
from other sources. Such data are cheaper and more quickly obtainable than the primary
SCOPE OF STUDY:
The scope of the project is to study and know about Online Trading and Clearing &
Settlements dealt in Angel Broking.
By studying the Online Trading and Clearing & Settlements, a clear option of dealing in
stock exchange has been
Understood. Unlike olden days the concept of trading manually is been replaced for fast interaction
of shares of shareholder. By this we can access anywhere and know the present dealings in shares.

43
OBJECTIVES OF THE STUDY
The objectives of the study are as follows:
 To know the process of online trading.
 To study about the back up measures with respect to primary communication facilities, in
order to achieve network availability and connectivity back-up options.
 Study about Clearing & Settlements in the stock exchanges for easy transfer and error prone
system.
 Study about computerization demand process.
 To know about the settlement procedure involved NSDL operations.
 Clearing & defining each and every term of the stock exchange trading procedures.

44
CHAPTER IV:
DATA ANALYSIS AND INTERPRETATION

45
Interpretation:-
Above Pie Chart Shows that:-
68% (34)Respondents are males
32% (16)Respondents are female
Interpretation:-
6% (3) Respondents 15-20 Age groups.
22 % (11) Respondents are 21 to 25 Age groups
48% (24) Respondents are 26-30 Age groups
24% (12) Respondents are 30 and above Age group

46
INTERPRETATION
10% Respondents Annual Income is Below 15000
30% Respondents Annual Income is 15000-30000
44% Respondents Annual Income is 30000-45000
16% Respondents Annual Income is Above 45000
INTERPRETATION
32% Respondents are Post Graduation
52% Respondents are Graduate
16% Respondents are 12th
pass

47
Interpretation
20.4% Respondents are Professional
38.8% Respondents are Working Private firm
16.3% Respondents are Businessman
 24.5% Respondents are Government Employee
Interpretation
91.8% (45)Respondents Knows about online Trading
8.2% (5)Respondents doesn’t know about online Trading

48
Interpretation
84% (45)Respondents Knows about online Trading
16% (5)Respondents doesn’t know about online Trading
Interpretation
56% (28)Respondents trade in Equity
28%(14) Respondents trade in Mutual Funds
4%(2) Respondents trade in commodities % Respondents trade in F&O

49
Interpretation
52%(26) Respondents believe that trader /broker is very successful in online trading
18%(9) Respondents Disagree
30% (15)Respondents believes in Moderate
Interpretation
48% ( 24) Respondents invest upto 10 %
38% (19 ) Respondents invest 10-15%
8%( 4) Respondents invest 15-20%
 6% ( 3) Respondents invest more than 20 %

50
Interpretation
66% ( 33) Respondents invest up to 10 %
2% (1 ) Respondents invest 10-15%
8%( 9) Respondents invest 15-20%
 14% ( 7) Respondents invest more than 20 %
18 %( 9) Respondents influence independently
18% (9 ) Respondents Influence by Broker /Agents
20%( 10) Respondents Influence by News and channels
 32% ( 16) Respondents Influence by Internet
 12%(6) Respondents Influence by Business Magazine

51
88%(44) Respondents prefer to online trading
12% (6 ) Respondents prefer to offline trading
34%( 17) Respondents trade daily
34% (17) Respondents trade weekly
22%( 11) Respondents trade monthly
 10% ( 5) Respondents trade yearly S

52
STOCK MARKET
ITC Limited (ITC.NS)
NSE - NSE Real Time Price. Currency in INR
297.25+4.15 (+1.42%)
At close: 29 March 3:29PM IST
Date Open High Low Close Adj Close Volume
31‐03‐
2018
257 283.85 255.45 281.45 276.1763 202890294
30‐04‐
2018
281.45 289.7 268.75 271.65 266.56 195457676
31‐05‐
2018
271.15 274.6 259 266.2 266.2 192470283
30‐06‐
2018
267 307.15 260.05 297.7 297.7 348466313
31‐07‐
2018
298.05 322.6 296.1 319.85 319.85 263506651
31‐08‐
2018
322.95 322.95 289.5 297.75 297.75 233947297
30‐09‐
2018
300.85 302.95 263.65 280.1 280.1 252722016
31‐10‐
2018
280 290 273.15 285.8 285.8 183520568
30‐11‐
2018
287.25 289.5 268.2 281.65 281.65 188635478
31‐12‐
2018
282.2 297.4 273.6 278.65 278.65 263251945
31‐01‐
2019
280.65 285.2 268.45 276.05 276.05 327891004
28‐02‐
2019
276.45 303 276.05 298.25 298.25 242577291
29‐03‐
2019
302 302.5 295.45 297.25 297.25 11910830
INTERPRETATION:
On open value has risen from 257 to 302 than compare to higher value of
EPS 298.05 To 322 Then coming to lower price from 280. Wholly the
conclusion is 257 to 302 rise.The comings to the volume on the same dates or days
volumes are increased. Because on this session ITC value is raised i.e.

53
Infosys Limited (INFY.NS)
743.85+14.15 (+1.94%)
31‐03‐2018 570.5 607.2 551 599.75 574.2078 238890178
30‐04‐2018 599.75 624.325 577.5 615.9 589.6701 152659266
31‐05‐2018 615.2 657.5 606 653.6 625.7645 148892806
30‐06‐2018 657 696.9 634.05 682.55 675.1972 222750566
31‐07‐2018 681.9 727.15 673.75 720.55 712.7878 153220648
31‐08‐2018 724.5 748.5 692 730.05 722.1855 151520717
30‐09‐2018 737.5 754.9 629.9 686.4 679.0057 186538368
31‐10‐2018 689.7 689.7 599.85 667.45 667.45 169740057
30‐11‐2018 673.15 713.7 637.35 658.95 658.95 154714992
31‐12‐2018 660.95 751.3 651 749.55 749.55 212509846
31‐01‐2019 751.35 772.25 721.3 734.3 734.3 119007691
28‐02‐2019 735.5 747.95 705.35 746 746 141921796
29‐03‐2019 743.9 747.95 740 743.85 743.85 6922757
INTERPRETATION:
On open value has risen from 570 to 743.9 than compare to higher value of
EPS 615 to 751 Then coming to lower price from 735. Wholly the
conclusion is 570 to 743.9 rise.The comings to the volume on the same dates or days
volumes are increased. Because on this session INFOSYS value is raised .

54
Reliance Industries Limited (RELIANCE.NS)
1,363.25+14.00 (+1.04%)
31‐03‐2018 893 1011 885.25 963.3 957.3959 125900999
30‐04‐2018 963.3 1000 906.6 921.35 915.703 126910309
31‐05‐2018 920 1036 918.45 972.45 966.4899 161578463
30‐06‐2018 972.35 1190.4 957 1186 1186 199278275
31‐07‐2018 1190.4 1329 1165.95 1241.65 1241.65 148803132
31‐08‐2018 1245 1281.35 1183.5 1257.95 1257.95 179932122
30‐09‐2018 1257.7 1257.7 1016.4 1061.25 1061.25 275487319
31‐10‐2018 1067.9 1186 1050 1167.55 1167.55 163681563
30‐11‐2018 1174.9 1174.9 1055 1121.25 1121.25 152734872
31‐12‐2018 1125.25 1264.7 1081.1 1227.15 1227.15 213748954
31‐01‐2019 1234 1321.2 1206 1231.05 1231.05 174415053
28‐02‐2019 1237 1388 1218.6 1363.65 1363.65 184604134
29‐03‐2019 1370.05 1376.85 1355.1 1363.25 1363.25 7699271
INTERPRETATION:
On open value has risen from 893 To 1370.05 than compare to higher value of
EPS 1190 to 1234 Then coming to lower price from 920. Wholly the
conclusion is 893 To 1370.05 rise.The comings to the volume on the same dates or days
volumes are increased. Because on this session RELIANCE value is raised .

55
CHAPTER V:
FINDINGS AND SUGGESTIONS
FINDINGS:
Online trading is more powerful & advantageous than manual trading.
The software or the systems used in online trading should be advanced and the persons
who operate should have minimum knowledge.
Tips are available for trading online and invest wisely. So that the investor can avoid the
fraud.
It should increase the speed of executing the orders.
Due to invention of online trading here has been greater benefit to the investors as they
could buy/sell shares as and when required.
It has to take necessary steps to attract the customers through the Internet.
India Info line has to give more advertisement through the media stating the advantage to
the investors by using the India Info line.
Instant bank account should be provided as the other companies are providing.
It should have separate department for portfolio management.
Most of the investors like to trade along with brokers.
Online makes direct contact between the investors and it avoids the presence of
middleman.
Online trading reduces the trade time.
SUGGESTIONS:
I suggest the company to take steps to educate investors about their rights and duties;
try to increase investor’s confidence.
Try to explain them how fraud will take place so that they can be alert and they can
take necessary steps to avoid the frauds.
For the awareness of on-line trading process it is necessary to conduct various
programs in different T.V channels.
It is necessary to explain the benefit of the on-line trading to the investors.
To explain the investors how to work on DEMAT services.

56
CHAPTER VI:
CONCLUSION
The comprehensive study of on “online trading system“ at Angel Broking has been an
enlightening experience stressing on the position aspects on security trading. Dematerialization of
shares and online trading has done in whole lot of good to the issuer, investor, companies and country.
The Depository system has reduced the time lag in delivering and settlement of securities
but also supported the cause of providing more liquidity to the security holder, the need for setting
up of a depository, paper less trading through online trading system and settlement became in evitable
and unavoidable for the smooth and efficient functioning of the capital market. This system has
proven its worthy ness by increasing in the settlement will be done with in the day in future is in itself
an indication of how great a boon in this system of Online trading.
E-brokerages provide convenience, encourage increased investor participation and lead
to lower up front costs. In the long run, they will likely reflect increased market efficiency as well.
In short run, however, there are a number of issues related to transparency, investor’s misplaced trust,
and poorly aligned incentives between e-brokerages and markets, that may impede true market
efficiency.
For efficiency to move beyond the user interface and into the trading process, consumers
need a transparent window to observe the actual flow of orders, the time of execution and the
commission structure are various points in the trading process. In this regard, institutional rules,
regulations and monitoring functions play a significant role in promoting efficiency and transparency
along the value chain in electronic markets.

57
BIBLIOGRAPHY
Web-site : www.nseindia.org
www.iseindia.com
www.nsccl.com
https://www.geojit.com/derivatives/trading-clearing-settlement

58
Appendix
1. NAME:-
2 Genders
□ Female □ Male
3. Age
□ 15 to 20 □ 21 to 25
□ 26 to 30 □ above 30
4. Income per month
□ Below 15,000 □ 15000 to 30,000
□ 30,000 to 45,000 □ above 45,000
5. Education qualification
□ Graduation □ Post graduation
□ Others
6. Do you know about online trading?
□ Yes □ No
7. Do you have a DMAT Account?
□ Yes □ No
7. In which stock you most trade online?
8. □ Equity □ Mutual Funds
9. □ Commodities □ F&O Equities □ Other
9. Do you believe that your trader/broker is very successful in online trading?
□ Strongly Agree □Agree □Moderate
□Disagree □Strongly Disagree
10. What percentage of your annual income do you invest in share market?
□ Up to 10% □ 10-15%

59
□ 15-20% □ More than 20%
11. No. of years of online trading experience in stocks at this firm?
□ Below 5 years □ 5 to 10
12. Any other company whose service you like?
□ Karvy □ Religare □ Indian bulls
□ Share khan □ Angel Broking
13. As an online market participant what is your participant status?
□ Long term investor □ Short term investor
□ Intraday trader
14. Which one will influence your online trading decision making? (Give Rank 1 to the most
imp and 8 for the lest imp)
a) Independently
b) Broker/ Agent’s Advice
c) News Channels
d) Newspapers
e) Advice of Friends / Colleagues f) Internet g) Business Magazine
15. Occupation:
□ Professional □ Working in Private Firm
□ Businessman □ Government Employee
16. Which type of trading you prefer?
□ Online □ offline
17. How often do you trade?
□ Daily □ Weekly
□ Monthly □ Yearly

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