ING Vysya Bank signed an agreement with Angel Broking to offer online trading. This will give the bank's customers the facility to operate an integrated savings account, demat account and trading account on a single platform.

Customers will have the choice across online trading, mobile trading and also dealing facility through the phone or ‘call and trade.' Customers can also opt for trading in equities, futures and options, exchange traded currency derivatives and commodities on a single platform. The platform also allows access to multiple exchanges.

Addressing media persons, Mr Shailendra Bhandari, Managing Director and Chief Executive Officer, ING Vysya Bank, said, “We have felt the absence of an electronic broking product for many years because ING Direct is known for its online broking all over the world. We looked for a partner who had strong online and offline model and a focus on retail customers.”

Angel Broking will provide the dealing support and research and advisory services. It will invest Rs 18 crore for the joint venture by FY '12 and deploy 200 people.

For account holders of the bank, Angel is charging 0.4 per cent as brokerage fees, against 0.5 per cent for other customers.

While the tie-up is not exclusive, this particular product has been specifically designed for ING Vysya's customers, said Mr Dinesh Thakkar, Chairman and Managing Director, Angel Broking, said.

Keywords: Business latest news, business discussion, news business, banks