Accordingly, ICICI Direct customers will get single-window access for both domestic and US share trading, and will be able to invest in overseas securities that include shares, ADRs, index options and ETFs on the New York Stock Exchange, American Exchange and Nasdaq.
RBI’s new scheme
The tie-up comes in the wake of the new liberalised RBI remittance scheme whereby individual investors can invest up to $200,000 per financial year.
“As per extant RBI’s Exchange Regulations, we are offering delivery-based trading in equities, exchange traded funds and also facility for investing in stock and index options.
As and when regulatory norms permit we will increase our product offering,” S Mukherji, Managing Director & CEO said.
As per the new deal, customers of ICICIdirect.com could not only invest in most of the Fortune 500 companies but also buy ADRs of companies from China and other booming markets on Asia.
