TradingScreen signs India's Emkay Global to broker network

The brokerage arm of Indian financial services group Emkay Global Financial Services has signed a deal with TradingScreen to become part of its global broker network.
By None

The brokerage arm of Indian financial services group Emkay Global Financial Services has signed a deal with TradingScreen to become part of its global broker network.

The deal means clients of TradingScreen, the multi-broker and multi-asset class execution management system (EMS) provider, can now access the Indian market via Emkay Global, as well as the broker's algorithms via TradeSmart, TradingScreen's front-end graphical user interface.

“Given the large number of foreign institutional investors registered with local regulators, there is a great future opportunity for us in India,” said Bernard Ho, head of sales for Asia Pacific and Japan at TradingScreen. “Our partnership with Emkay Global allows us to take advantage of this ever growing market.”

He said building partnerships with financial services firms like Emkay was a “critical part” of TradingScreen's strategy of expansion in India, as well as across the Asian region and globally.

“The relationship with TradingScreen is an important one for Emkay Global who caters to different geographies like Asia Pacific, the US and Europe,” said Rajesh Chougule, head of sales, trading and dealing at Emkay Global. “We are glad that we can expand our reach through a leading technology partner.”

The combined average turnover for India's two leading exchanges makes it the fifth largest globally.

There are around 1,700 registered foreign institutional investors registered with India's stock market regulator, the Securities Exchange Board of India.

Year to date, these investors have provided more than US$3 billion in cash and US$28 billion in derivatives to the market, according to National Stock Exchange and Bombay Stock Exchange data.

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