I am an NRI currently working and staying in USA. I've been trading in stocks, options and more recently in commodity and Single stock futures in the US.
My first reaction to this website (www.traderji.com) was surprise, as I was not aware that structured countrywide trading in derivatives has come up to speed yet in India. It might actually not have, but its good to see discussion boards and forums like this.
As an NRI, do I have any options (I mean choices ) to participate in the stock/option/future markets in India? As far as I remember, in India we have a system of keeping the brokerage separate from the repository of the equities and other securities (unlike in the US where the brokerage itself is the custodian of the securities) so I guess I need to create 2 different accounts -- one with a bank or organization to act as my security repository and other with a brokerage to trade as per my requests?
Please suggest which are the good alternatives for NRIs to do both these things through electronic means (internet and telephone when clarification is required). Any one who has a practical experience trying to electronically trade derivatives in India -- I'd appreciate their replies and comments..
Thanks a lot,
Ramarao
My first reaction to this website (www.traderji.com) was surprise, as I was not aware that structured countrywide trading in derivatives has come up to speed yet in India. It might actually not have, but its good to see discussion boards and forums like this.
As an NRI, do I have any options (I mean choices ) to participate in the stock/option/future markets in India? As far as I remember, in India we have a system of keeping the brokerage separate from the repository of the equities and other securities (unlike in the US where the brokerage itself is the custodian of the securities) so I guess I need to create 2 different accounts -- one with a bank or organization to act as my security repository and other with a brokerage to trade as per my requests?
Please suggest which are the good alternatives for NRIs to do both these things through electronic means (internet and telephone when clarification is required). Any one who has a practical experience trying to electronically trade derivatives in India -- I'd appreciate their replies and comments..
Thanks a lot,
Ramarao