Online Trading Facilities Ease NRI Investments
For non-resident Indians, in particular, the online facility to trade
in the Indian markets is a boon. With the markets currently on the
lower side and more volatile than a few weeks back, there is the
opportunity for the discreet NRI investor to pick on choice stocks to
add to his portfolio. To assist him in doing this more easily and with
greater control, we have an increasing number of brokerage houses
adding new online trading facilities. In the past weeks, ICICIdirect
and Geojit BNP Paribas, two leading retail stock brokers with a
sizeable presence in the Gulf, have joined the fray. ICICIdirect
launched its new online trading platform ‘TradeRacer followed by Geojit
BNP Paribas which launched its enhanced online trading platform ‘FLIP’
(Financial Investment Platform).
The platform is available free of cost for
its existing customers while brokerage charges remain the same at 0.3
percent for a delivery. FLIP is already available in stock exchanges of
Saudi Arabia and Oman. Developed by Geojit Technologies (P) Ltd, a
subsidiary of Geojit BNP Paribas, ‘FLIP’ provides features similar to
ICICIdirect’s TradeRacer like alerts, research reports, intra-day
charts, technical analysis, third party news, customised interface and
a mobile edition called FLIP-Me. Both mobile integration options are
available through low bandwidth GPRS-enabled mobile phones.
Where FLIP scores is in its tie-up with eight banks, whose customers
can access the platform. ICICIdirect does not allow any customer other
than its own account-holders (in ICICI Bank) to trade in its online
trading platform. In both the platforms, investors can arbitrage which
provide multiple watch-lists.
ICICIdirect’s ‘TradeRacer’ was initially available only to its
sub-brokers. Now it is open to all customers after registration. FLIP
integrates with the risk management system offering financial
instruments such as equities, derivatives (stock and currency), margin
funding, mutual fund units and IPOs. FLIP also provides online fund
transfer through multiple bank payment gateways in addition to
RTGS/NEFT. FLIP uses FIX adapter to connect to multiple markets to
serve different client categories including institutions, retail
investors, traders and HNIs.
To mark 74 years of business, the Pune-based Bank of Maharashtra last
week introduced “Maha-e-trade”-online share trading facility in its
platinum jubilee year. Maha-e-trade is devised in association with
three major trading houses viz., M/s Religare Securities Ltd., Munoth
Capital Market Ltd., and Enam Securities Direct (P) Ltd., Maha-e-Trade
is a three-in-one integrated account. Bank of Maharashtra helps
customer to integrate his/her banking, demat and trading accounts.
Customer can trade in shares backed by funds and securities available
in their bank / demat account.
Trading has been made very easy even for beginners.
Salient features of Maha-e-Trade include delivery based trading, intra
day square off, lien marking on funds/ securities, no transfer of
funds, investment in shares traded on the NSE and BSE can be made
without having to visit the share-broker, all other associated hurdles
like tracking of settlement cycles, paying and receiving funds in
savings account, paying and receiving shares in Demat accounts have
been removed. The Delhi Stock Exchange (DSE) general body too, in its
meeting held in December last year decided to introduce an online
trading platform. As more exchanges and brokerages take the online
route, overseas Indians have a better chance of getting firmer control
of their investments not just in stocks, but also in derivatives,
commodities, currency and other traded instruments.
Source:- Nri Realty News
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