Saxo Bank in India e-trading partnership
Mumbai, September 30, 2013
Saxo Bank, the multi-asset online investment bank headquartered in Denmark, has partnered with SMC Global Securities to launch an online trading platform for its clients in India.
The trading platforms of Saxo Bank A/S provide direct access to equities, ETFs and bonds spanning 33 stock exchanges across the US, Europe, Asia, South America and Australia.
An EU-licensed bank with presence in 25 countries, Saxo has a client base spanning 180 countries. It offers trading platforms to banks and brokerage companies licensed to hold client funds.
Introducing brokers of Saxo Bank A/S are allowed to offer the co-branded platforms under their own brand, which would be serviced by Saxo Bank A/S.
Speaking at the launch, Subhash C Aggarwal, the chairman and managing director of SMC Group, said: “With the growing appetite of Indian investors for overseas investing, we are introducing international trading platforms by Saxo Bank A/S which aims to provide the opportunity for the investor to truly diversify their portfolio across geographies, sectors, exchanges and products.”
SMC’s director Ajay Garg said by introducing Saxo’s online trading platform it was opening new opportunities to invest globally for its clients.
"Also, under the Liberalised Remittance Scheme (LRS) all resident individuals are allowed to freely remit up to $75,000 per financial year to acquire and hold immovable property or shares or debt instruments or any other assets outside India," he added.
‘SMC International’, (co-branded version of Saxo Trader), the global online trading platform provided by Saxo Bank A/S is a comprehensive product that helps clients to make informed decisions and efficient real-time execution.
Also offered are SMC International Swift (co-branded version of Saxo Web Trader), a browser based platform and SMC International Easy (co-branded version of Saxo Mobile Trader), a mobile platform provided by Saxo Bank A/S.
Rudra Dalmia, the CEO of Saxo Financial Services, said: "SMC Global Securities is our second client in India with a co-branded trading platform. The co-operation with SMC in India is in line with our global expansion plans as their footprint across the country allows us to offer Saxo Bank’s trading platform to SMC’s customers.”
SMC International offers several benefits to the Indian investors, such as having a global reach that allows the Indian investors real-time access to equities across 33 foreign exchanges.
Other benefits include transparent pricing, news, charting and data analysis system; and research reports on sectors and stocks.-TradeArabia News Service