Speaking to The Financial Express, NSE.IT chief executive officer Satish Naralkar said, "DotEx Broker Plaza is a shared web-enabled Internet based trading facility to be launched next week."

DotEx International Ltd, promoted by NSE.IT and i-flex Solutions, would act as the infrastructure service provider and neutral aggregator to bring together all market participants. It would be a one-stop shop where an investor could have one-click convenience. DotEx would maintain and upgrade the site and the solution to match and exceed the state-of-the-art.

DotEx broker plaza is a common infrastructure for Internet trading to the investment community. By participating in DotEx Plaza, brokerage firms, including small and medium sized ones, would be able to offer world-class web trading facilities to their customers in a cost effective manner. The system offers investors a comprehensive, updated market information and the choice to conduct business through multiple intermediaries, Mr Naralkar said.

Investors who visit this site could view information on participating brokers and send the prescribed form to desired broker. The broker in turn verifies investors' credentials and sign contractual agreements before registering them in DotEx Plaza. Brokers can also set limits for investors, he added.

DotEx Plaza system, after applying limit checks as set by the broker for the investor, sends it to the exchange trading system on behalf of the broker. Confirmation of trade is sent to investor, via email. The move is expected to increase transparency in the trading process.

Broker could login and monitor the orders and trades placed by his investors through him. The brokers have the facility to disable a specific client or all clients from trading through him.

The authorised broker-administrator would have to perform the risk management functions, namely setting of global norms, instrument level restrictions and managing individual client restrictions. These limits are verified each time an investor places an order. The broker can monitor the online trading done by his clients and can stop from further trading.

With regard to the security aspect, there is a stringent password policy to prevent predictable passwords with periodic expiry with change of password forced at first login. There is a client-side digital certificate as an additional level of security for remote broker administration activities.

`One way hash' will be used to encrypt passwords before storage. Login authentication is performed by comparing encrypted passwords.

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