India Infoline clients now have access to 80 global exchanges

India Infoline clients now have access to 80 global exchanges

"Interactive is one of the largest broker-dealers in the US. We were looking for a strong partner with a platform through which our clients could access global exchanges and Interactive fitted our bill perfectly," India Infoline Private Wealth CEO Karan Bhagat said.

India Infoline's customers, numbering over a million, can now access a wide platform for a low transaction cost, Bhagat added.

Interactive Brokers and India Infoline will share the brokerage as per the agreement.

According to Indian laws, resident can invest in overseas assets to the extent of USD 2,00,000 per annum.

"We expect a positive response from the private wealth segment side. Our estimate is that within three to six months, we should perform encouragingly in this segment," Bhagat said.

"There is a tremendous potential on the private wealth side where we expect immediate action. I expect the retail segment to follow suit soon," he said. The India Infoline group, a leading player in the financial services space, offers the entire gamut of financial services covering products ranging from equities and derivatives, commodities, wealth management, asset management, insurance, loans, investment banking, Government of India bonds and other personal finance instruments.

Interactive Brokers Group Inc has over USD 4.4 billion in equity capital and handles a million-plus trades per day, providing electronic access to stocks, options, futures, forex, bonds and ETFs.

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