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Brokers network: an option to promote more products
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The National Stock Exchange (NSE) may also permit a broker to set up a network of sub-brokers in different cities. All of them will be provided with internet connection to be linked with the NSE central computer. The broker can define a hierarchy of users. This is similar to the existing system of sub-brokers.

The system of sub-brokers existed in almost all the prominent stock exchanges in the country. However, their presence was more felt in the premier Bombay Stock Exchange (BSE). The brokers could successfully employ sub-brokers there because the volume of business in shares undertaken in the financial nerve center of the country was rather phenomenal.

With the advent of the online trade, the role of the sub-broker that undertook stock trade in the traditional manner has somewhat diminished, but a new form of sub-brokerages have emerged. According to the former traditional system, there was a limit up to which a prominent brokerage can trade in shares. Today, the erstwhile brokerages have opened sub-brokerages in every nook and corner of the country. They have now developed a royal clientele to trade in various financial products.

With the development of online has heralded a revolution of sorts. The software has helped brokers to cut down on the manpower needed to man the various operations. Not only that more work can be undertaken and completed in record time. With each passing year, the popularity of these softwares is on the increase.

The success of a business venture rests on continuous diversification. This is much true with the developments in the prominent brokerages. After making a beginning with trade in stocks, most of the prominent brokerages have now moved on to currency trade. If on a trading day, there is some loss, it is often made up through the currency trade. Thus, for some of the prominent brokerages, both stock and currency trades have now become unavoidable options.
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