Canara bank launches online trading facility

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Mumbai, Feb 18 (UNI) Emphasising its role as a 'super financial market' the Canara Bank today launched online trading facility through its wholly owned subsidiary, Gilt Securities Trading Corporation (GSTCL) to enable its customers on Core Banking Solution branches, have easy access to the capital market.

Bank Chairman M B N Rao launched the trading facility, www.canmoney.in, at a function here and said that in due course the facility could be accessed by over 30 million customers of the Bank.

Investors could open demat account, savings or current accounts and a trading account on one go. The Bank ultimately aims to cover about 100 million accounts with this facility, he added.

Online trading would be available in select CBS compliant branches in India and would be extended to all CBS branches over a period of time, he added. The trading account would be offered free with concessional brokerage for a limited period. ''We intend to be amongst the leading institutions to spread the financial prosperity to the common man and make him a partner in the country's economic growth through informed investment in the Indian equity market, he said.

He said GSTCL offered three market savvy products -- Cash N Carry (delivery based product), Intra-day trading (jobbing) and Buy in Today sell out tomororw (BITSOT), while the trading in Futures and options segment would be introduced shortly. Value added services such as portfolio tracker, online back office with more than 40 detailed reports, online digital contract notes, information on IPOs, and dat bank on various listed companies, sector watch and news analysis would also be made available to investors, he added.

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