Zero Balance Trading Account Facility introduced by SAMCO
SAMCO, India’s speediest growing discount broker and sponsor of India’s biggest currency markets competition the Indian Trading Group, has launched industry ground breaking product ‘IntraPlus‘ which is clearly a “Zero Balance Trading Account“.
Through ‘IntraPlus’ bill traders can start intra-day deals even if the money balance in their trading accounts is zero, which is first of its kind product in Indian currency markets.
With IntraPlus, clients can pledge their stocks and Exchange Traded Money (ETFs) of 801 approved securities and get margins to operate across exchange sections.
Mr. Jimeet Modi, CEO, SAMCO Securities said:
“As we continue to unbundle the entire brokerage model, we aim to solve another problem that many clients were facing. That is clients not being able to leverage their stock holdings! To solve that problem, we have introduced SAMCO IntraPlus”.
Mr. Modi further added that,
“Within the trading business, the only real raw materials is capital. However, when merchants and traders make investments their capital in companies, their capacity to start fresh investments is impaired since their capital is tangled up. We at SAMCO have directed to resolve this problem with this No Balance trading consideration.”
Through IntraPlus, stock traders will now able to leverage the energy of the holdings even if they haven’t any liquid profit from their trading accounts and initiate deals rather than miss a chance. The look of the merchandise is in a way that gives complete overall flexibility to customers.
With SAMCO IntraPlus, clients can get margins against stocks up to 90% of value (after haircut) against securities (stocks and ETFs) managed by those to operate Intraday in the NSE Collateral, Future & Options as well as Money Derivatives combined with the BSE Equity section.
Explaining about the merchandise, Mr. Modi added
“Suppose the worthiness of your holdings post haircut is Rs. 1,00,000 as well as your Cash Available is Rs. 0. After you pledge your holdings around, you can enter into intraday investments with Margins of upto Rs. 1 Lakh though your money available is Rs even. 0!”