Business | Banking
ICICIdirect opens options trade for NRIs
ICICIdirect.com, a major online trading platform in India, on Monday launched its online Futures and Options (F&O) trading service for NRIs.
- Staff Report
- Published: 20:42 October 6, 2008
Dubai: ICICIdirect.com, a major online trading platform in India, on Monday launched its online Futures and Options (F&O) trading service for non-resident Indians (NRIs).
This facility offers secure transactions through its integrated trading site.
It provides the opportunity for NRI customers to create short-term trading positions and benefit from market volatility.
F&O will act as a tool for risk management and hedging by reducing potential downside, ICICIdirect said.
Apart from online trading, customers can also use the "CallNTrade" facility.
The firm will provide training in trading to NRI customers at various overseas locations with special emphasis on F&O trading.
"The strength of the Indian community in the UAE is 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 is Indian," said Anup Bagchi, Executive Director - ICICI Securities Ltd. Indians form the biggest expat group in Bahrain also, he said.
Share this article
More from Banking
More from Business
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
Travel insurance offers peace of holiday mind
The wisest thing to do is to take out travel insurance before you leave.
-
Controlling risk through managed account
Can be simple stand-alone master funds or can grow to include several special purpose vehicles
-
Regional banking in throes of light and darkness
Loan-loss provision growing but lenders withstanding crisis
