UBI ties with CSE for online trading platform

UBI ties with CSE for online trading platform Kolkata: United Bank of India on Monday announced their association with Calcutta Stock Exchange to launch U-Connect, an integrated online platform for stock trading for its customers.

"We have tied up with CSE primarily not targeting at fee-based revenue, but to offer a service for our customers," UBI chairman and managing director Bhaskar Sen said.

The service currently has been introduced in 10 branches and the same would be extended to other branches later, he added.

CSE Managing Director and CEO Madhav Reddy said presently this CSE's trading platform will offer cash segment trading of BSE and NSE.

"We will later introduce F&O segment on the platform," he said.

CSE had launched the online trading platform as many of its brokers do not have capability to offer online trading interface and hence the same will help the CSE, brokers and investors to trade through the local bourse.

However, trading fees remained to be high as minimum fees is Rs 50 per trading or 0.50 percent for delivery-based transaction and Rs 30 or 0.15 percent for intra-day trading.

PTI