Reliance Money partners with US brokerage firm

September 8th, 2008 - 4:47 pm ICT by IANS  

New Delhi, Sep 8 (IANS) Broking and distribution house Reliance Money Monday said it has partnered with the US-based optionsXpress Holdings Inc, a web-based trading company, to gain access, custody and execution in US markets for its customers. Reliance Money, part of the Reliance Anil Dhirubhai Ambani Group, through this agreement will enable investors to trade in all US delivery based equities, initial public offerings (IPOs), mutual funds, bonds and options.

“Our tie-up with optionsXpress will now open a safe, secure and cost-effective transaction platform for our customers to trade in the US markets,” Reliance Money chief executive officer Sudip Bandyopadhyay said.

The US equity markets are mostly liquid and allow investors to spread country and sectoral risk more effectively.

Customers can also invest in sectors like bio-technology, semi-conductors and Internet companies that are under-represented here, Bandyopadhyay said.

optionsXpress Holdings is a US-based company that provides securities brokerage products and services for investor education, strategy evaluation and trade execution.

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