Interactive Brokers adds Indian stock trading
01 July 2009 | 2200 views | 0
Source: Interactive Brokers
Interactive Brokers is pleased to announce the addition of stock trading on the National Stock Exchange of India (NSE) for both Indian national residents and Non-resident Indians (NRI). This adds to Interactive Brokers' previously announced product additions of options and futures trading in India.
Indian and non-resident Indian clients will now have access to over 80 electronic markets worldwide, including India, from a single platform. Commissions for Indian stocks are just 5 basis points per transaction, subject to a minimum commission of INR75 per transaction plus costs. The commission for Indian options contracts ranges from INR40 to INR60 per contract + costs (e.g., securities transaction costs, exchange/statutory charges, stamp duty and service tax) with INR100 minimum. Indian futures commissions range from 0.015% to 0.035% of the overall trade value + costs with INR100 minimum.
The opening of its Mumbai offices makes India the eighth international location for Interactive Brokers, as it increases to 18 the number of countries in which Interactive Brokers provides electronic trading for its worldwide customer base. The IB Trader WorkstationSM 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."