ICICI Securities Inks Partnership With Denmark's Saxo Bank

MUMBAI: Largest retail brokerage ICICI Securities on Tuesday announced a strategic partnership with Saxo Bank, the Denmark-based online multi-asset trading and investment specialist, to enable domestic investors enter overseas markets, including equities and debt segments.

The partnership will enable ICICI Securities' 4 million clients to diversify their investments outside of the domestic market and access multi-asset investment opportunities on 36 stock exchanges across 24 countries.

The Reserve Bank of India (RBI) under the liberalised remittances scheme allows residents to spend to $2,50,000 to acquire and hold shares, debt instruments or other assets overseas without prior approval.

"With increasing globalisation of financial markets, diversification has become an important objective for investors to spread risks and opportunities across geographies and asset classes as markets behave differently at various points of economic cycle," ICICI Securities said.

While investing developed markets like the US and Europe not only provide exposure to well-known global companies with stable income and growth, it also provides investors with the opportunity to capture any short-term opportunities efficiently, it added.

ICICI Securities managing director and chief executive Shilpa Kumar said this partnership will bring in investment opportunities in equity markets, ETFs and debts across 24 countries to our customers here and help them diversify their portfolio outside the country.

"I believe the partnership with Saxo Bank will help our clients leverage our combined strong knowledge and superior platforms and ensure they have access to the broadest set of global capital markets investment options," she said.

Commenting on the partnership, Saxo Bank co-founder and chief executive Kim Fournais said, "India is an incredibly important growth market with a growing number of investment professionals and a very tech-savvy population.

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