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In a first, Mumbai brokers will work-from-home to ensure seamless trading amid lockdown

Mumbai’s never say die spirit continues amongst partial lockdown. As soon as the stock exchanges on Friday announced relaxations to allow work from home, big brokerages rushed to issue guidelines to facilitate their employees to operate out of their homes, wherever possible.

This would be the first time in history when the brokerages are being permitted to operate the trading terminals from locations other than main or branch offices or from the office of an authorised person.

Vijay Bhushan, President at ANMI, an association that represents 900 members, said brokerage workers are taking steps to ensure that their clients are not inconvenienced and trading volumes do not suffer.

He said stock exchanges’ decision to allow brokers to trade on behalf of clients from remote locations was a swift and appreciable response to the virus outbreak.

Business-critical employees however at some offices will work from ‘secondary office locations’ closer to their homes, so that they could avoid public transport.

Edelweiss implemented various tools and is partnering with companies like Microsoft, Zscaler and AWS “to ensure better productivity and a better experience for customers even in these unprecedented times.”

"That’s the advantage of being a technology-driven online business," said Ravi Kumar, co-founder at Upstox, adding that his online brokerage has been witnessing healthy month-on-month growth in the number on new demat accounts and transactions, given the online nature of the business.

Other brokerages said meetings with external visitors are being called off or are being done via video conferencing.