Geojit Financial Services Partners with US-Based Stockal to Launch Global Investment Platform

0
14

Cochin-based financial services firm Geojit said on Thursday it had partnered with US-based wealth management services platform Stockal to launch a global investment platform, which will provide services to US markets. The platform will provide trading services for instruments such as US stocks and exchange traded funds through a single account. The artificial intelligence-based global investment platform will make it easy for investors to trade U.S.-listed stocks of Apple, Facebook, Google, Microsoft and Netflix, Geojit said.

In a press release, Geojit Financial Services said it will soon add other key global markets, including the UK, Japan, Hong Kong, Germany and Singapore, to the platform.

ALSO READ  Engie and Mitsui sell 75% of renewable energy trust to Infrastructure Capital Group

The product aims to allow clients to invest in U.S. markets and various global assets through a single account from anywhere in the world, Geojit said.

The platform will benefit more than 10 Geojit Financial Services lakh clients as well as domestic retail investors interested in global assets.

Geojit said it will also offer its customers facilities such as digital integration with e-KYC (Know Your Client), proprietary tools and algorithms that process 8.5 million data points to help.

ALSO READ  Oil rises on Covid-19 vaccine hopes, declining US crude stocks

The portal has partnered with three banks in India to facilitate online money transfers through the Liberalized Money Transfer System (LRS), which allows residents to pay up to $ 250,000 per fiscal year for free for authorized transactions. on the current account or in capital.

“Right now, investors are showing a strong intention to spread risk and broaden their time horizon in equities in all geographies. There has been a substantial increase in demand from high net worth individuals, retail investors and those following the global equity investment markets to invest in global equities, ”said Satish Menon, Executive Director of Geojit Financial Services.

ALSO READ  50 paid jobs in Lakh lost in July, nearly 2 crores since April: Think-Tank

“Our knowledge-driven, AI-driven global investment platform will help them explore investment opportunities in well-regulated markets and build a risk-adjusted global investment portfolio,” he said. -he adds.

Global assets have been in high demand in India for a year, Geojit Financial Services said, adding that thousands of retail investors in the country have invested over Rs. 350 crore in overseas markets so far this year.

.