Monday, April 7, 2008

Reliance Money partners with Recognia Inc, takes broking to next level for retail customers

Reliance Money, the financial distribution company of the Reliance Anil Dhirubhai Ambani Group, today became the first and only Indian company to launch simplified and sophisticated Automated Technical Analysis on its platform for retail customers.

The company launched this initiative in partnership with Recognia Inc of Canada, leaders in chart pattern recognition and price forecasting through technology that analyzes the price action of stocks of all publicly traded companies and indicates new investment opportunities.

The partnership was announced by Mr Sudip Bandyopadhyay, Director and CEO, Reliance Money and Mr Rick Escher, President and CEO of Recognia at a conference here today.

“Technical analysis, till date, is a privilege available to institutions and HNIs and the Indian retail investors have been deprived of these tools so far. The addition of Recognia's sophisticated Automated Technical Analysis as an add-on feature on our platform will provide automated simplified analysis that will inform the customer about shift in trends of different stocks in the Indian markets” said Mr Bandyopadhyay

"Our automation and simplification of technical analysis is a good match for Reliance Money's commitment to offer qualitative tools to Indian investors participating in the stock market. Our daily analysis on over 55,000 instruments from 39 exchanges is helping millions of people in North America and Europe and we are excited to be working with Reliance Money to make it available to the investors and traders in India,” said Mr Escher.

Recoqnia’s Technical Analysis will allow Reliance Money users to identify customers about shift in price movements and emerging trends that will help them look up ‘bullish’ and ‘bearish’ notifications for any company thereby providing them an insight into the possible direction for the scrip price.

Recognia's Research is updated throughout every trading day - providing independent and objective notification of shifts in trends and changes in supply and demand that are otherwise not easily visible. When certain movements of the stock prices occur, Recognia distributes notices that help recipients identify profitable trades and make timely transactions.

Automated email notification will be sent to Reliance Money users based on personalized criteria, such as opportunity type, the price range or type of pattern desired, set by them. Subscribers will have the added benefit of receiving the daily ‘Top Bullish and Bearish Opportunities’ sent directly to them.

The technical services are available for introductory free 7-day trail period to Reliance Money users. Post the trail period, this service is available to users at a nominal subscription of Rs. 99 for 3 months/ Rs. 179 for 6 months/ Rs. 299 for a year, i.e., less than Re 1 a day.


Reliance Money is a comprehensive financial services and solution provider. Its endeavor is to change the way India transacts in financial markets and avails financial services. Reliance Money provides a single window, enabling customers to access, amongst others, Equity & Commodity Derivatives, Mutual Funds, IPOs, Life and General Insurance Products, Offshore Investments, Money Transfer, Money Changing, Gold Coins and Credit Cards.

Reliance Money is a group company of Reliance Capital – one of India’s leading and fastest growing private sector financial services companies, ranking among the top 3 private sector financial services and banking companies in terms of net worth. Reliance capital is a part of the Reliance – Anil Dhirubhai Ambani Group.


Established in 2000, Recognia’s proprietary pattern recognition technology is capable of recognizing patterns in the price charts of any publicly traded financial instrument including stocks, bonds, funds, commodities, currencies and indexes. These chart patterns are known to indicate trading opportunities. This ability has not previously been available and was a task that previously had to be performed manually, making it humanly impossible to monitor all stocks and all commodities on a continual basis. The Recognia system currently scans over 16,000 charts per day and this number is continually increasing as additional exchanges are added.

Recognia generates content in-house and licenses it to financial portals, online brokerages and other financial institutions. Some of its clients include Bloomberg, Thomson Financial, HSBC and TD Waterhouse, among others. Recognia products include quantitative data feeds, white-label Internet applications, email alerts, news wire feeds, and white-label market letters.

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