Kotak Securities launches SOR for online retail customers

In order to bring in more retail participation into the equity markets, local brokerages continue to launch innovative products, with Kotak Securities introducing a facility called smart order routing (SOR), especially for its online retail clients.

The new system allows an investor to automatically execute a trade at the best available price across multiple exchanges, such as NSE and BSE, Kotak Securities said in a press release.

In short, the system will automatically let the investors and traders buy at the lowest price and sell at the highest price available across exchanges, at the time the order is placed.

At present, this facility was only offered to institutional clients by the brokers, including Kotak Securities.

“We have already seen good amount of our retail clients using this technology, and more and more retail customers will use the SOR technology to benefit their trades. Institutional clients have already benefited from this technology,” B Gopkumar, executive VP and head broking, Kotak Securities told Financial Chronicle.

Once MCX also launches its equity trading platform, customers will have the best available price across the three exchanges, said Gopkumar, adding that the facility will be available only on the cash segment.

However, he refused to indicate the total volumes the brokerage could be looking to gain from its retail clients over a period of time.

Orders can be placed through the company’s trading platform, Keat ProX, or even via mobile phone application offered by the company.

prasannadeshpande@mydigitalfc.com

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