UK-regulated forex and contracts for difference (CFDs) broker TradeNext said on Wednesday it has set up a subsidiary brokerage in India, TradeNext Securities. The launch aims to expand TradeNext’s operations in Asia and to serve as a global markets pitch for emerging markets.
The new broker is authorized by the Securities and Exchange Board of India (SEBI). It will offer a wide range of products, including futures & options, forex derivatives and mutual funds, but will emphasize on online equity trading services.
TradeNext Securities is based in the Indian capital New Delhi and will serve retail and institutional clients, as well as high-net-worth individuals (HNWI). It is member of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
“Electronic trading is a driving force in financial markets and with the application of e-trading in emerging markets, the gap between developed and developing markets is reducing, TradeNext has always been focused on offering contemporary solutions to global traders,” a TradeNext spokesperson was quoted as saying in a statement, adding that the business environment in India is optimistic, and thus reinforces the notion that emerging markets can offer premiums far greater then Europe and the US.
Indian investors have been opening-up to financial markets as financial literacy increases and investors have direct access to news and information, the broker said, citing data by the county’s two main depositories, National Securities Depository Ltd (NSDL) and Central Depository Services Ltd (CDSL). The number of equity investor accounts continues to increase, the total number of Demat, or dematerialized, accounts stood at 23.3 million in April 2015, with a sharp increase in the number of annual accounts opened in 2014-2015.
TradeNext, set up in 2012 in the UK, holds a license issued by the Financial Conduct Authority (FCA), UK’s financial watchdog. It is one of the first Indian-owned UK-regulated forex brokers and one of the first to offer access to Indian financial markets to UK investors.
Source: PR Log