Motilal Oswal, IDBI Bank team up for online trading facility

Motilal Oswal Securities Ltd and IDBI Bank on Tuesday announced that they were entering into a strategic alliance to provide online trading facility to the bank’s customers. IDBI customers now have the option of investing in equities, derivatives and IPOs using Motilal Oswal’s online trading platform. On the trading front, Motilal Oswal will provide the bank’s customers instant order/trade confirmation, single margin for equity/IPO/derivatives, “buy now sell tomorrow” and “after market hours” order placement facilities and margin benefit on hedged positions. Corporation Bank has tied up with IL&FS, Religare and Reliance Money; Asit C. Mehta has an arrangement with Union Bank while Bank of India has tied up with Anand Rathi. This is the second such partnership that Motilal Oswal has got into; where last year it had tied up with SBI Bank.