Reliance Money to provide customers access to Global Commodities Exchanges
- Agreement with DBS Vickers to facilitate trading through safe, secure transaction platform
Mumbai, December 10, 2008:
Reliance Money, part of the Reliance Anil Dhirubhai Ambani Group, today announced its agreement with DBS Vickers Securities (Singapore) Pte Ltd. (DBSV), to facilitate trading in Global Commodities Exchanges for Indian corporate and other appropriate participants.
The announced was made by Mr. Sudip Bandyopadhyay, Director and CEO, Reliance Money here today.
"We have always given top priority to adding value to our customers through our innovative products and services; and our strategic tie-ups. Our agreement with DBS Vickers will now open a safe, secure and cost effective transaction platform for our customers to trade in Global Commodities Exchanges," said Mr. Bandyopadhyay.
He further added, "The size of the Global Commodities Derivatives Markets is estimated to be around USD 800 billion. We believe that Indian investors are looking at diversifying their portfolio and overseas trading service enables them to do so. "
Globally, exchange traded commodity futures is one of the largest market segments in the financial markets witnessing participation from the producers, users, traders alike.
The offering under this agreement will broadly comprise of Derivatives in Agricultural Products, Metals & Energy Products traded on various major exchanges worldwide as well as OTC products in segments such as Energy and Freight.
DBS Vickers is a leading securities and derivatives brokerage firm in Singapore with a rich Asian heritage and strong Asian focus. It is a wholly owned subsidiary of DBS Bank, one of the largest financial services groups in Asia.
About Reliance Money ()
Reliance Money, a part of the Reliance Anil Dhirubhai Ambani Group is a comprehensive financial services and solution provider, providing customers with access to Equity, Equity and Commodity Derivatives, Portfolio Management Services, Wealth Management Services, Mutual Funds, IPOs, Life and General Insurance and Gold Coins. Customers can also avail Loans, Credit Card, Money Transfer and Money Changing services. The largest broking house in India with 3 million customers and a wide network of over 10,000 outlets and 20,000 touch points in 5,000+ locations. Reliance Money endeavors to change the way investors transact in financial markets and avails financial services. The average daily volume on the stock exchanges is Rs. 3,000 crores, representing approximately 4% of the total stock exchange volume. Reliance Capital is one of India's leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking groups, in terms of net worth.
About DBS Vickers Securities (Singapore) Pte Ltd.()
DBS Vickers Securities (Singapore) Pte Ltd is a member of the Singapore Exchange and one of the country's leading securities houses. DBS Vickers Securities is the securities and derivatives arm of the DBS Group, one of the largest banking groups in Southeast Asia. DBS Vickers Securities has full stock-broking licenses in Singapore, Hong Kong, Thailand and Indonesia, as well as sales offices in London and New York, and representative office in Shanghai. DBS Vickers Securities offers a broad range of services, which include share placement and trading, derivatives trading, research, nominee, and securities custodial services; and is an active player in the distribution of primary and secondary issues in the Singapore and regional capital markets.
[ Top ] |
