These numbers are significant. In e-commerce terms what has been achieved in the capital market can be likened to a B2B transaction. The next challenge will be an extension of the automated processes in the capital market to client level. This extension will mean addressing some different issues. Once the scene changes to B2C transactions we can no longer operate on a Closed User Group network.
Internet is inevitably the only solution.
Brokers as well as the two premier exchanges are setting up systems to provide internet access to clients for trading. Similar efforts on the part of the Depository as well as the DPs in enabling clients to give their instructions to the participants over the internet are underway. We must also address the question of whether there is sufficient bandwidth. Once a vast number of clients are targeted, open messaging standards becomes a necessity and organisations must deal with this issue. We will also have to work out the revenue models for this purpose.