A PROJECT ON APPLICATION IN FINANCE:

BOLT

WHAT IS BOLT?
To facilitate smooth transactions, BSE had replaced its open outcry system with the BSE Online Trading (BOLT) facility in 1995. This totally automated, screen-based trading in securities was put into practice nation-wide within a record time of just 50 days. BOLT has been certified by DNV for conforming to ISO 27001:2005 security standards. The capacity of the BOLT platform stands presently enhanced to 80 lakh orders per day.

Ticker window

Need for BOLT

Poor transparency 15 days + settlement cycle Poor liquidity Computer & Network evolution global trend - globalization Competition Faster spread of equity culture resulted in BSEs Online Trading System (BOLT)

BOLT - BSE On Line Trading System : FEATURES

1.BOLT Architecture: Powerful Back-end HP 2 x NS16000 (Client server) Windows - NT Front end Efficient Network - Own VSAT HUB Total fault Tolerant - OLTP High Reliability and availability 80 x 146 GB Disks

2.

Establishing reliable connectivity Network:

Ethernet Based VSAT Based Leased lines (MLDN)

3. Supported by: * Help Desk facility * Contingency Pool

 4. TYPES OF ORDERS: - Limit orders - Market orders - Odd lot orders - Stop loss orders Features of Orders: Retention , net position, oddlot Colour schemes, background colour Institutional ID - Client, Own, FI, WH

 5. 6A / 7A Interactive trade confirmation 6. Control mechanism: - Daily circuit filters -Capital Adequacy check (Intra-day trading limits) - Gross Exposure check - Trader-wise controls

7.Broadcast: -Market view -Best five quotes -Total depth - buy and sell -Last traded rate & quantity -Trades / values / volume -Lower / upper circuit limit rate & weighted Avg. rate -Open / high / low / close

8.Total Dematerialisation:
Complete Rolling settlement T + 2

9. On-line facility - Sauda book

Report downloading (dload) BSE News - Ticker facility Net position - scripwise /clientwise Trade / Broker query file download Derivative Touchline

12. Country-wide SPREAD - 400 cities

-

14500 terminals
900 members

13. Response Time

Less than 1 seconds - will be reduced further.. Confirmation of trades - display -update sauda book Refreshing touchline & market view

14.Trading Backed by Risk Management Trade Guarantee Fund Customer Protection Fund Margin Mechanism

Downloading facilities
Trade data Member query data / breakup data Net position (brokerwise) Auction Data (offers / D.O./Money statement /Entl. Rep) Settlement related data Money statement, delivery orders, margin. Daily price movement (Open/High/Low/Close/Value/Volume) Trade statistics Notices

Daily Trading Sessions on BOLT

Session Timing Pre-open Trading Session 09:00 - 09:15 Trading Session 09:15 - 15:30 Position Transfer Session 15:30 - 15:50 Closing Session 15:50 - 16:05

Advantages of BOLT
Transparency of trades Enhancement of market quality through liquidity Reduction in settlement Risk (guaranteed settlement) Faster settlement T + 2 Improved access to sensitive information Simplicity in broker back office operations Increases geographical spread