Technology Will Drive Trading Turnover

How is Reliance Money stock trading portal different from other portals?
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Reliance Money trading portal (www.reliancemoney.com) provides customers with a simple and easy to navigate trading platform. The site design is uncluttered  and extremely user friendly. Besides allowing users to invest in equities, they can also invest online in mutual funds of about 17 top AMCs.

What are the unique features of Reliance Money trading portal?
Our portal gets about 22 million total page views per month. Home page views per month are about 5 million. The  average time spent per visitor is about 600 seconds. We also get about 25,000 unique visitors per day. Our portal has a registered user base of  9.5 lakh. Due to heavy customer traffic on our portal, there are many advertisers who regularly advertise on site which is an additional source of income.

What advantages does Reliance Money offer to the investors and traders vis-à-vis other portals?
The biggest advantage and differentiator vis-à-vis other portals is that we offer a complete secure and hack-proof transaction on our portal. We give all our trading customers a unique security token. This security token generates a six digit password which needs to be entered after the initial user name and password. This password generated by security token changes every 32 seconds and acts as a third level of security authentication. The security token is mapped to our server and sends an algorithmic random number every time it is pressed to generate a password. We believe that online trading platform must be secure enough for customers to trade with no risk of hacking. Providing secure trading platform is inherent to our business and hence we do not charge customers for this additional service. We also have introduced facilities such as ‘shares as collaterals’ for trading and ‘after market orders’.

What are your charges for investors and day traders? How competitive are these vis-à-vis other brokers?
We are the pioneers of fix fee trading concept. Customers can avail prepaid broking cards to trade depending on the volume they want to trade. For high volume traders we also have commission based fee depending on their turnover. We are the most competitive on broking charges.
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How do you propose to increase your market share in the tough competitive environment?
Reliance Money’s strength lies in its reach and distribution network. We plan to recruit 2000-plus sub-brokers across India. We are also in the process of creating dealing rooms across all our branch network. We definitely want to increase our trading terminals to 5000 in the next 2 years. Our current daily turnover is about 4 per cent of the exchange turnover.

How do you see stock market trading evolving in future?
Technology will be a great enabler for driving the trading turnover. Today the exposure to equity markets is limited due to lack of internet connectivity in smaller towns. Reliance Money has taken the lead by offering the trading platform on mobile phones with internet connectivity. Because of huge mobile penetration, the number of people using mobile trading will go up substantially in the near future.
We have also installed broadband internet-enabled trading kiosks at all our branches and strategic partner locations to provide our customers with ease of access to trading and make it more convenient for them.

What are your future plans and how do you intend to achieve them?
We definitely want to provide with the best broking structure and offer more value-added services to our customers. We want to increase our customer base to 5 million and contribute about 15 per cent to the exchange turnover in the next two years. About how we intend to achieve this... just wait and watch!