The third largest private sector lender Axis Bank on Wednesday launched AxisDirect, an online trading platform, marking its foray into retail broking business.
AxisDirect, a product of Axis Securities and Sales, which is a 100% subsidiary of the bank, will offer multiple options to the customers for trading in cash, derivatives, IPO segments on both the NSE and BSE, a statement from the bank said in Mumbai.
Bank managing director and chief executive Shikha Sharma said, "a considerable amount of time has been invested in talking to customers, understanding the need-gaps and what we can do to bridge those gaps. We have tried to design and develop unique functionalities and make it easier for customers to invest in markets using AxisDirect. We've partnered with TCS to develop this platform."
TCS managing director and chief executive N Chandrasekaran said, "TCS is happy to partner with Axis in launching this online broking initiative. What we've been able to do is to bring together the collective knowledge of TCS and Axis Bank in the capital markets space as well as latest technologies to give a very unique experience to customers."
Axis Securities and sales joint managing director Modan Saha said "AxisDirect aims to simplify a customer's trading experience. The platform is designed to appeal to both experienced traders and beginners/new traders alike by offering them investment strategies in an integrated environment."