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Media Information
Online Trading Facilities Ease NRI Investments

Published & Updated as on - 2010-02-26


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, intraday 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:Indian Realty News 26/2/10

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