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OPTIONSXPRESS REACHES DEAL WITH INDIAN FIRM
By James P. Miller |Tribune staff reporter7:45 AM CDT, September 10, 2008
OptionsXpress Holdings Inc., the Chicago-based online brokerage, said Wednesday that it reached agreement on an alliance with India's leading brokerage, under which the Indian firm -- Reliance Money Ltd. -- will refer its customers exclusively to optionsXpress for trading in U.S. financial products.
The Chicago broker, which specializes in equity options and futures trading, said Reliance is a unit of India's Ani Dhirubhai Ambani Group conglomerate. The accord also allows optionsXpress to refer customers to Reliance for trading in Indian markets.
As Indian investors seek to diversify their portfolios, the link with optionsXpress "will create a safe, secure and cost effective transaction platform for our customers to trade in the U.S. markets," said Reliance Money Chief Executive Officer Sudip Bandyopadhyay.
The accord, said an optionsXpress official, will allow the Chicago company "to participate and benefit in the growth potential of India."E-mail
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