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| Vimal Stocks ties up with UK-based Spread Co |
| BS Reporter / Mumbai/ Ahmedabad Nov 11, 2009, 00:49 IST |
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Ahmedabad-based Vimal Stocks Ltd has joined hands with UK-based Spread Co to form a new entity called Vimal Trade, which will provide a trading platform to high net worth individuals (HNIs) in India to invest in global markets.
Vimal Stocks Ltd provides brokerage, research and portfolio management services to its clients and it has entered into trading space for the first time.
As part of the alliance, newly formed Vimal Trade will use Spread Co's trading solutions and infrastructure to offer investors an opportunity to invest in global markets.The company has launched a new product for Forex trading named as Indian Premium Securities.
"Apart from this, we intend to provide around 20 to 22 trading platforms to investors for investing in global equities and commodities markets. These platforms also include names such as FTSE, Nasdeq, Chicago Board of Trade (CBOT) and London Metal Exchange (LME) to name a few," said Darshan Shah, CEO, Vimal Stocks Ltd while announcing the tie-up with Spread Co, which has 70,000 traders associated with it across the world.
Vimal Stock has offices in London and Singapore in addition to nine offices in Gujarat.
The city-based company now plans to set up its corporate office in Mumbai and later on expand its network to Delhi and Chennai.
So far, it has also registered 150 clients for its new trading service. In order to fund expansion plans, the company plans to come up with initial public offer by 2012.
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