Sunidhi launches online capital market services

	Financial Daily from THE HINDU group of publications Thursday, September 07, 2000

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Sunidhi launches online capital market services

Our Bureau

MUMBAI, Sept. 6

SUNIDHI.COM, an e-broking portal promoted by Sunidhi Consultancy Services Ltd, has announced the launch of a complete range of capital market services through its online internet-based trading platform `Tradenet.'

Tradenet is fully integrated with the payment gateway enabled by Citibank. The e-broking service will enable investors to make online payment to the broker and allow Sunidhi to credit funds to investors' accounts. The e-broking service will also permit m argin trading and square-off transactions.

Brokerage charges will be levied at 0.10 per cent when the transaction is squared off on the same day, making the effective brokerage 0.05 per cent for each leg of transaction. For transactions squared off in the same settlement it will charged at 0.20 p er cent.

Tradenet also allows the payment of margin money by cheque or in shares. Moreover, if the margin money exceeds Rs 25,000 the investor has the option of deploying the margin money in the automated lending-borrowing mechanism or badla finance.

Addressing reporters, Mr. P.S JayaKumar, Director, Sales and Distribution, Citibank India, said ``The solution is highly flexible and will allow the brokers to offer customised products to their customers. The highest levels of security have been built i n to ensure all data is protected and cannot be tampered with.''

Mr. Bimal J. Parekh, Director, Sunidhi Consultancy Services, said ``Live quotes from the National Stock Exchange will enable investors to take informed decisions. They will also be able to get complete details of all orders placed, status of orders, marg ins allocated, margins utilised, current market price of the portfolio and the profit or loss that has been booked.''

Pic.: (From left) Mr.P.S.Jayakumar, Director Sales & Distribution, Citibank India, Mr.J.C.Parekh, Director, JCP Shares & Securities, and Mr.Arun Shah, Director, Sunidhi Consultancy Services, at a press conference to launch Sunidhi.com e-broking portal.