Indians, NRIs Now Have Access to 80 e-Markets

by CXOtoday Staff    Jul 02, 2009

Interactive Brokers has added online stock trading on the NSE for Indian and Non-Resident Indians (NRIs). This is in addition to its previously announced product additions of options and futures trading in India

The IB Trader Workstation allows investors to view, trade, and manage risk for multiple global asset classes, including Indian stocks, options, and futures, from a single screen. 

Gerald Perez, managing director of IB s London office, said, "We’re committed to earning the business of active Indian investors and we re doing this at some of the lowest trading costs available across India. In addition, we are working to provide electronic trading access to Indian, as well as non-Indian, institutions in the near future to help complete our Indian offering." 

Customers will now have access to over 80 electronic markets worldwide, including India, from a single platform. Commissions for Indian stocks are 5 basis points per transaction, subject to a minimum commission of Rs 75 per transaction plus costs. The commission for Indian options contracts ranges from Rs 40 to Rs 60 per contract plus costs (e.g., securities transaction costs, exchange/statutory charges, stamp duty and service tax) with Rs 100 minimum. Indian futures commissions range from 0.015% to 0.035% of the overall trade value plus costs with Rs 100 minimum. 

Interactive Brokers Group, Inc., together with its subsidiaries, is an automated global electronic market maker and broker specializing in routing orders and executing and processing trades in securities, options, futures, foreign exchange instruments, bonds, and funds as a member of more than 80 electronic exchanges and trading venues around the world. 

Related Link

Interactive Brokers Offers Single Online Trading