e-Broking Services FAQs
Manage your share trading online with complete convenience with Axis Bank’s e-Broking services. The e-Broking FAQs include all the answers to your queries regarding the payment gateway, the exchanges that offer internet trading facilities, the shares that can be traded online, trading limits, etc. Make sure to carefully go through the FAQs for e-broking below.
Payment Gateway is a service offered on the Internet for purchase and sale of shares. In the real world, you place orders on your stockbroker either verbally (personally or telephonically) or in a written form (fax). In Payment Gateway, you will access a stockbroker's website through your internet-enabled PC and place orders through the broker's internet-based order routing and trading engine. These orders are routed to the Stock Exchange without manual intervention and executed thereon. The order routing to the exchange will happen in a matter of seconds. The order execution once it reaches the exchange system is similar to that of an offline transaction.
The National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) offer Internet trading facility.
The user ID and password allotted to the customer is kept completely confidential. No one, except you, will have access to this information. It is ensured that the customers user ID and password is placed in the secured portion of our website. The password will be in the system in an encrypted form The most advanced encryption technology, Secure Socket Layer (SSL), is used to ensure that the information transmitted between the trading engine and the customer across the internet is safe and cannot be accessed by any outsider. SSL has been universally accepted on the World Wide Web for authenticated and encrypted communication between clients and servers.
The customer will be able to trade in all the shares that are in completely dematerialised form. Currently, there are 761 shares that fall under this category.
The trading limit is the maximum exposure tat a customer can have at a time. This limit that will be granted will be a pre-determined number of times (referred to as a multiple) the customers margin amount.
Yes, for ease of operation it is desired that the customer opens a bank account with one of the internet trading portals banking and depository service partners.
Faster credits, smooth flow of transactions and early commencement of trading are the advantages that the customer will enjoy. The customer can transfer funds through online instructions into the bank account of his Payment Gateway portal and commence trading the very next day. Further, if the Payment Gateway portal have to make a payment to you, funds can be credited to the customer account.
A settlement cycle on the Stock Exchange is an account period for transacting on securities. At the end of the account period, the obligations of each client are calculated and these obligations are settled.
A rolling settlement is an account period for transactions in securities on the Stock Exchange where trades are settled on the fifth day. This happens on a continuous basis with pay-in/pay-out taking place on the fifth day after the trade.
A Good Till Cancelled (GTC) order remains in the system until the trading member cancels it. However, the system cancels this order if it is not traded within a number of days parameterised by the Exchange. A Good Till Days/Date (GTD) order allows the user to specify the number of days/date till which the order should stay in the system if not executed. The maximum number of days for which the GTC/GTD order can remain in the system is notified by the Exchange from time to time after which the order is automatically cancelled by the system. The days counted are inclusive of the day/date on which the order is placed and inclusive of holidays. An Immediate or Cancel (IOC) order allows the user to buy or sell a security as soon as the order is released into the system, failing which the order is cancelled from the system. Partial match is possible for the order and the unmatched portion of the order is cancelled immediately.
Shares purchased during the settlement cycle will be delivered to you within 48 hours of the payout by the Stock Exchange. If shares have been sold, payment will be made to you within 48 hours of the pay-out by the Stock Exchange.
Delivery based trade is a trade where the transaction ends in actual delivery of the underlying scrips. These are buy/sell transactions undertaken by long term investors who desire capital appreciation in their investments.
A square-off transaction is one where the transactions do not end in delivery of the underlying scrips. These are buy-sell orders or sell-buy orders within the same settlement. The net difference is paid by/ received by the customer at the end of the settlement.