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17 Aug 2020

ICICI Securities enables Indian customers to invest in US securities

ICICI Securities enables Indian customers to invest in US securities

  • Joins forces with Interactive Brokers for a seamless and completely digital investment journey
  • Domestic investors can trade in US stocks, ETFs, and fixed income products
  • No minimum ticket size with fractional ownership of shares permitted

Mumbai, Aug 17, 2020–ICICI Securities Ltd. (I-Sec), an integrated financial services firm,today said that it has joined forces with Interactive Brokers LLC, a US-based online brokerage firm with multi-asset and multi geography trading capabilities, to offer ICICI Securities’ customers the ability to invest in the US markets through a complete digital experience from onboarding to trading.

The alliance will enable ICICI Securities’ 4.8+ million clients to diversify their investments outside of the Indian market and access multi-asset investment opportunities through Interactive Brokers’ award-winning and intuitive trading platform. Domestic investors can now trade in US markets across stocks, ETFs, and fixed income products. There is no minimum ticket size and US markets even allow for fractional ownership of shares, so even small retail investors can build a portfolio effectively.

Interactive Brokers Group is a 42-year-old, US-based Nasdaq-listed brokerage firm with over $8 billion in equity capital and over $203 billion in client equity (Source: Press release named Interactive Brokers Group Announces 2Q2020 Results)

“For over two decades, ICICIdirect.com has been offering Indian investors the opportunity to invest and build their financial assets in a convenient and knowledgeable way. With ever increasing globalization, diversification has become an important objective for many investors to spread risks and tap opportunities across geographies and asset classes. Investing in a matured and well-regulated market like the US provides exposure to well-known and well tracked international companies. We feel it is the right time to offer such a facility for our customers and are happy to join hands with Interactive Brokers. Together we will make investing in the US markets almost as seamless as it is investing in the domestic markets. The complete investment journey, right from account opening, broking, portfolio monitoring and statements will be offered seamlessly and digitally. Based on investor demand, the facility could be extended to other markets as well in the future,” said Mr. Vijay Chandok, MD & CEO, ICICI Securities.

Commenting on the alliance, Ankit Shah, Director of Interactive Brokers’ Indian entity said, “This alliance will provide ICICI Securities’ clients access to stocks, ETFs, bonds and mutual funds listed in the US. We believe that many Indians have interest in investing in companies outside of India and in brands that they use every day. Indian investors will now be able to utilize Interactive Brokers’ award winning platform and execution capability to make it happen.”

ICICI direct account holders can digitally open the account through the icicidirect website and choose from the subscription plans available depending on their trading preference. As an introductory offer, the company is providing two months of complimentary subscription to its customers, details for which are available on the website.

About ICICI Securities

ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Ltd. The company began its operation in May 1995 and continues to grow its operation through expanding its client base and providing different type of services.

I-Sec operates www.icicidirect.com, a virtual financial supermarket, meeting the three need sets of its clients- investments, protection, and borrowing. Through its four lines of businesses -- broking, distribution of financial products, wealth management, and investment banking-- I-Sec serves customers ranging from the retail and institutional investors to corporates to high net-worth individuals to government.

I-Sec is listed on National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). For details, visit: www.icicisecurities.com

About Interactive Brokers Group, Inc.:

Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, and foreign exchange around the clock on over 135 markets in numerous countries and currencies, from a single IBKR Integrated Investment Account to clients worldwide. IBKR services individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Barron’s ranked Interactive Brokers #1 with 5 out of 5 stars in its February 24, 2020, Best Online Broker Review (Source: Award details captured from website of interactive brokers i.e. www.interactivebrokers.com).

Disclaimer

ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020, India, Tel No : 022 - 2288 2460, 022 - 2288 2470. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code :07730), BSE Ltd (Member Code :103), MCX Ltd (Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Mr. Anoop Goyal, Contact number: 022-40701000, E-mail address: complianceofficer@icicisecurities.com. I-Sec acts as a Composite Corporate Agent having registration number CA0113. Investment in securities market are subject to market risks, read all the related documents carefully before investing. Mutual fund investments are subject to market risks, read all scheme related documents carefully before investing.
I-Sec distributors Insurance and Mutual funds, Corporate Fixed Deposits, NCDs, PMS and AIF products.
All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism.
Please refer to press release no. PR No: 47/ 2018 dated October 30, 2018 issued by SEBI on ‘Advisory in respect of Foreign Trading Portals’ before investing in global financial products through foreign/ overseas trading platforms / exchange. the Investor would not have access to Exchange (NSE and BSE) investor redressal forum or Arbitration mechanism.
The contents herein above shall not be considered as an invitation or persuasion to trade or invest.  I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. While due care has been taken, I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any inaccurate, delayed or incomplete information nor for any actions taken in reliance thereon. ICICI Securities Ltd. makes no warranties or representations, express or implied, on products and services offered through the platform. It accepts no liability for any damages or losses, however, caused in connection with the use of related services. ICICI securities Ltd is not liable for any loss or damage of any kind arising out of investments outside India.
ICICI Securities role here is limited as Introducing broker. ICICI Securities will introduce the customer with the platform provider Interactive Broker LLC post which clients will be directly sharing their details to them. Once customers have been referred, they are solely responsible for any and all orders placed by them, and understand that all orders are unsolicited and based on their own investment decisions. ICICI Securities and any of its employees, agents, principals, or representatives DO NOT: provide recommendations of any security, transaction, or order; provide investment advice; produce or provide research to any user regarding any security, transaction, or order; handle funds or securities related to securities orders or effect the clearance or settlement of a user’s trades done through Interactive Brokers LLC. All processes including KYC will be executed by Interactive Brokers LLC directly with client and ICICI Securities will not incur any personal financial liability.
Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will', ‘expected to’, etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the actual growth in broking business and other financial services in the countries that we operate or where a material number of our customers reside, our ability to successfully implement our strategy, including our use of the Internet and other technology our exploration of merger and acquisition opportunities, our ability to integrate mergers or acquisitions into our operations and manage the risks associated with such acquisitions to achieve our strategic and financial objectives, our growth and expansion in domestic and overseas markets, technological changes, our ability to market new products, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to implement our dividend policy, the impact of changes in insurance regulations and other regulatory changes in India and other jurisdictions on us. ICICI Securities Limited undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

For further details, contact:

ICICI Securities Ltd.
Rabin Ghosh
rabin.ghosh@icicisecurities.com
+91 9820530306
Adfactors PR Ltd.
Rasika Badshah
rasika.badshah@adfactorspr.com
+91 9821631379
Interactive Brokers Group
Kalen Holliday
media@interactivebrokers.com