Reliance Money Unveils Mobile Trading

by CXOtoday Staff    Feb 24, 2009

Reliance Money, part of the Reliance Anil Dhirubhai Ambani Group, today introduced mobile trading in both equities and commodities across all mobile platforms independent of device, operator, and the underlying carrier technology. 

The company unveiled its ‘Mobile Trading Portal’, which offers equity and commodity trading services to its investors, across all telecom operators.  With this initiative, the company hopes to tap the approximately 347 million telecom user base in India. 

"With this unique initiative, we aim to reach out to millions of telecom users - a sizable number of whom are either active and/ or potential investors - thus widening the scope of the market across the country.  This service will provide the benefit and convenience of trading on the move to different market participants - both in equities and commodities, thereby enabling them to avoid missing out on opportunities," said Sudip Bandyopadhyay, CEO and director of Reliance Money.

Reliance Money customers can use this mobile portal for trading without additional charge, he said.

To access the portal, any Reliance Money customer who has Internet access through a GPRS or CDMA-enabled mobile phone can log in to the Reliance Money website using the existing user id and security token number and trade in equities and commodities.  This platform works on over 6000 different mobile phones, the company informed.

The technical partners for this initiative were Religare Technova Global Solutions, Wipro (WIPRO), and Volantis.