Kerala-based private sector Federal Bank Limited today launched its Online Trading product 'Fed-e-Trade' in association with Geojit, one of India's leading stock broking companies.
K S Harshan, Executive Director of Federal Bank and C J George, Managing Director, Geojit Financial Services Ltd, jointly unveiled the new product's logo at a function here.
Federal Bank's retail clients would now have access to hassle-free online trading in equities, derivatives, IPOs and Mutual Funds via Geojit's online trading platform, Harshan said, adding that the Federal Bank-Geojit interface was developed jointly by Federal Bank and Geojit Technologies.
The launch of Fed-e-Trade was another milestone in the bank's commitment to offer state-of-the-art products and services to customers, he said, adding that DP services and networked branches of the bank across India would ensure that this product was available to customers all over the country.
'Federal Bank customers can seamlessly open 3-in-1 integrated accounts, comprising a savings account and a Demat account with the bank and an Online Trading account with Geojit', he said.
Through Geojit's online trading platform, customers could block funds in their bank account to purchase shares and view their demat holdings, he said.
'In case of sell orders, the trading system will seamlessly check the demat balance in their Federal bank Demat account and block the required quantity before sending the order to the Exchange', he said.