Reliance Securities launches mobile app for options trading

MUMBAI: Reliance Securities today launched Tick Pro-a mobile app for options trading with an aim to grab a significant share of the growing market for derivatives trading on mobile.

Reliance Securities is the broking and distribution arm of Reliance Capital.

"Options trading in the Indian market has seen rapid growth in the last few years and accounts for more than 78% of the approximately Rs 1.4 lakh crore daily volume on NSE. The share of traders through mobile will grow three fold to Rs 6,000 crore in the next couple of years. We believe there is a big demand for options trading through mobile," said B Gopkumar, CEO-broking and distrubution business, Reliance Securities.

The app, available on Android as well as iOS, will cater to cash market trades as well but is skewed more towards options trading through its features which include data market scanners to identify trends and help a customer execute the right options strategies. The app scans over 25,000 contracts and 5,000 securities per second to identify opportunities for options trading.

We plan to get about 30% of our 8 lakh customers on this app over the next few months, Gopkumar said.

Currently, the Tick Pro app has clocked 2,500 downloads in the initial weeks after we released it to customers and we expect the figure to touch 25,000 in the next three months, Gopkumar added.