Barclays Bank Plc's referral arrangement with Motilal Oswal Securities Ltd. for e - broking services
Barclays Bank Plc, India today announced that it has entered into a referral arrangement with Motilal Oswal Securities Ltd. (MOSL) for an equity trading platform for its customers.
- (1888PressRelease) October 28, 2010 - Barclays customers can choose to opt for the convenience of investing in equity through MOSL. Barclays customers can now conveniently initiate fund transfers and commence trading by simply using the Barclays internet banking service, and by logging into the MOSL website. Barclays customers will also have access to MOSL Equity Advisors for their offline trading requirements.
Karan Bhagat, Managing Director & Country Head India, Barclays Corporate, said, "We are very pleased to enter into this referral arrangement with MOSL, a market leader in the stock broking field. This referral arrangement allows the customer integration of the Barclays Bank account and MOSL's demat account with a Motilal Oswal trading account. Our customers will benefit not only from MOSL's trading platform but also through their experienced advisors and market intelligence."
Speaking on the occasion, Mr. Motilal Oswal, CMD, Motilal Oswal Financial Services Ltd., said, "We are extremely excited to have Barclays as our alliance partner and will work with them to provide the best customer experience. The online trading community is a growing community globally and also in India. Our MyBroker online trading platform offers a state-of-the art option. This product is definitely going to make the experience of trading a lot more speedy and convenient for Barclays Bank customers."
The online platform will provide Barclays customers with the option to invest in equities, derivatives and IPOs, through MOSL. Customers will also benefit from MOSL's rich market intelligence through daily SMS alerts and market updates, regular research reports, stock recommendations, digitally signed contract notes by email as well as a dedicated equity advisor.
About Motilal Oswal:
Motilal Oswal Financial Services Ltd. (NSE :MOTILALOFS, BSE :532892, BLOOMBERG : MOFS IN) is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail. Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and principal strategies. The company distributes these products through 1,504 business locations spread across 591 cities and the online channel to over 666,633 registered customers.
MOFSL has strong research capabilities, which enables them to identify market trends and stocks with high growth potential, facilitating clients to take well- informed and timely decisions. MOFSL has been ranked by various polls such as the Best Local Brokerage 2005, Most Independent Research - Local Brokerage 2006 and Best Overall Country Research - Local Brokerage 2007 in the Asia Money Brokerage Polls for India. In the StarMine India Broker Rankings 2009 from Thomson Reuters, we won awards in 3 out of 4 categories and also bagged the No. 1 Broker Award in the ET Now - StarMine Analyst Awards 2009.
About Barclays:
Barclays is a major global financial services provider in retail and commercial banking, credit cards, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the USA, Africa and Asia.
With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 140,000 people. Barclays moves, lends, invests and protects money for over 49 million customers and clients worldwide.
For further details contact:
Mr. Anirudh Rajan / Alpesh Nakrani
Paradigm Shift Public Relations
Mob-+91-9892343828/+91-9869121167
Tel- +91-22 22813797 / 98
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