10 Aug 2008, 1801 hrs IST,PTI
NEW DELHI: Dalal Street is no more the single avenue for Indians looking to invest in stocks, with leading retail brokerage firm Anagram becoming third major domestic player to offer the investors here an opportunity to invest in overseas equity markets.
Indian investors will be able to directly trade on a real time basis in stocks listed on as many as 12 bourses in the US, Europe, Asia and Middle East from next month through a new e-trading initiative being launched by Anagram.
When contacted, Anagram's retail business CEO Mayank Shah confirmed the development saying the company has signed an agreement with a Dubai-based firm to offer real-time online trading for Indian investors in multiple markets and international exchanges.
"We have signed an agreement with Mubasher Financial Services, a Dubai-based leading market information and e-trading platform provider, to offer real time online trading for Indian investors," Shah said.
Anagram plans to target High Networth Individuals (HNIs) and Super HNIs for its new offering and these investors could become a key driver for this platform, he added.
The new offering would provide investors an opportunity to diversify their risk and assets in a bid to leverage on newer opportunities and help maximise their gains, the industry experts believe.
While Shah declined to divulge further details, industry experts believe this Internet-based online real time platform would enable Indian clients to buy or sell equity shares on premium International Exchanges like NYSE, NASDAQ, American Stock Exchange, London Stock Exchange among others.
It is understood Anagram also plans to offer equity trading on other stock exchanges including those in Hong Kong, Luxembourg, Korea, Brazil, Russia, Indonesia, China, Malaysia, Mexico, Argentina, Vietnam and Taiwan in the next 6-9 months.
"This unique offering is a part of Anagram's constant endeavour to offer value-added services to out increasing customer base, globally, including Dubai where we intend to open our office," Anagram Chairman Munesh Khanna said.
The offering would provide round-the-clock access to stock markets in different time zones, according to their trading timings, Shah added.
Anagram would be the first entity to offer real time, secure e-trading platform across multiple exchanges in more than one continent to its over 1.50 lakh strong retail investor base.
Asked whether investors would be interested in looking at other market amid concerns of global slowdown, Shah said, with the platform investors can invest in other emerging markets like China, which have performed relatively better than other developed markets.
"This is giving investors to choose from stocks from various markets across the world and seek the most attractive valuations," Shah said.
Last year, leading online domestic brokerage firm ICICI Direct launched delivery-based trading in shares listed on the US stock exchanges, while Anil Ambani group's brokerage and financial services distribution arm Reliance Money also offers overseas trading facility through a tie-up with CMC Markets.
Trading in overseas stocks has become possible after the Reserve Bank of India (RBI) allowed individuals to remit up to 2,00,000 dollars annually in current and capital account including equities.
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