| 07 Oct 2008 |
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ICICIdirect.com launches online F&O trading for NRIs
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ICICIdirect.com, the largest online trading platform in India, yesterday announced the launch of its online Futures and Options (F&O) trading facility for Non Resident Indians.
This first-of-its-kind online facility offers safe and secure transactions through its fully integrated trading site, enabling NRI customers to create short-term trading positions and benefit from market volatility. F&O would act as an effective tool for risk management and hedging by reducing potential downside. Apart from online trading, customers can also avail convenient CallNTrade facility.
ICICIdirect.com has over 1.7 million customers in the online share trading space. The firm has a unique distinction of catering to the wide NRI customer base from over 100 countries ranging from the GCC region, Europe, South East Asia and Africa.
Anup Bagchi, Executive Director - ICICI Securities Ltd said the GCC region was home to a large population of Non-Resident Indians. In Bahrain, there were nearly 290,000 Indian nationals forming the largest expatriate community. The present strength of Indian community in the UAE was around 1.4 million. It is estimated that about 33 per cent of the total population and over 50 per cent of the work force in the UAE are Indians.
"This provides the right platform for us to launch this type of product and focus on GCC. We have been providing advisory and investment solutions to the NRI community in GCC for a long time now, and it has been well received. With the launch of NRI F&O, we are further reinforcing our organisation's focus and commitment to serve NRI community and the GCC region and empower our customers to take educated decisions that will enable them to maximize the benefits of investing their money," he said.
Vishal Gulechha , Head Product Equity - ICICI Securities Ltd said: "F&O are critical financial instruments for risk management as they allow risks to be separated and more precisely controlled from volatile and uncertain situations. This provides NRI's unique opportunity to capitalise even in falling markets and other volatile situations. Premium NRI customers can take special advantage of our expert advisory services from our Equity Advisory Group (EAG) in trading in F&O and implement beneficial strategies"
The firm is embarking on massive educational campaigns and customer empowerment for its NRI customers at various overseas locations with special emphasis on F&O trading.
By K.V.S. Madhav Senior Business Reporter
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Community Comments (1)
Hi,
Mumbai bomb blast can be considered as one of the most horrible attack. Due to blast even Exchanges like Regards
http://www.sharetipsinfo.com" title="BSE">BSE and NSE are kept closed for one day.
Now post attack we are getting news of resignations of various political leaders and officers. So is that another political move or there inner self is waking up??
What you have to say about it??, Looks like some political move is there!!
Now stock market will be affected by all political moves, though sentiments are not good but on technical charts market is quite bullish for very short term, still sentiments will effect Nifty movement. So all are advised to trade in small quantity and with strict stoploss till the picture is clear.
Regards
Mumbai bomb blast can be considered as one of the most horrible attack....
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