SMC Global Securities, Saxo Bank to offer online trading platform

MUMBAI: Financial Services provider SMC Global Securities Ltd and Denmark-based Saxo Bank, the multi- asset online investment bank, today announced the launch of Saxo Bank's online trading platform for its clients in India.

SMC International, the co-branded version of Saxo Trader, offers several benefits to Indian customers, such as real-time access to equities across 33 foreign exchanges across the USA, Europe, Asia, South America and Australia, an SMC statement said.

The trading platforms of Saxo Bank provides direct access to equities, ETFs and bonds spanning 33 stock exchanges.

Saxo Bank is an EU-licensed bank with presence in 25 countries and a client base spanning 180 countries. Saxo Bank offers trading platforms to banks and brokerage companies licensed to hold client funds.

"With the growing appetite of Indian investors for overseas investing, we are introducing international trading platforms by Saxo Bank, which aims to provide the opportunity for the investor to diversify their portfolio across geographies, sectors, exchanges and products," SMC Group Chairman and Managing Director Subhash C Aggarwal said.

"By introducing Saxo Bank's online trading platform we are opening new opportunities to invest globally for our clients.

"Also, under the Liberalised Remittance Scheme (LRS) all resident individuals are allowed to freely remit up to USD 75,000 per financial year to acquire and hold immovable property or shares or debt instruments or any other assets outside India" SMC Director Ajay Garg said.

"SMC Global Securities is our second client in India with a co-branded trading platform," informed Saxo Financial Services CEO Rudra Dalmia.