Paytm Money is going after the big bucks in futures and options trading
- Paytm’s subsidiary
Paytm Moneyhas now launched Futures & Options trading (F&O) on its platform at a flat fee of ₹10 for all trades.
- In India, the F&O segment accounts for over 90% of the overall market volumes.
- Paytm Money CEO said that the company is aiming at a daily turnover of ₹1.5 lakh crore and 1 million trades in the next 18-24 months.
- Other players in the stockbroking market like Zerodha, Sharekhan, Angel Broking too offer F&O trading options.
The Vijay Shekhar Sharma-led Paytm has made another big bet in the stock broking industry. Paytm’s subsidiary Paytm Money has now launched Futures & Options trading (F&O) on its platform at a flat fee of ₹10 for all trades. While an official rollout will be in a few weeks, the F&O trading option will be limited to 500 users initially.
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In India, the F&O segment accounts for over 90% of the overall market volumes. And Paytm is hoping to tap into the tremendous opportunity in the futures and options space. "On the mission to bring wealth services to 100 million Indians, the launch of F&O will accelerate our path,” said Vijay Shekhar Sharma, Founder & CEO of Paytm.
TOP VIDEOS FOR YOUPaytm Money CEO Varun Sridhar said that the company is aiming at a daily turnover of ₹1.5 lakh crore and 1 million trades in the next 18-24 months. And with the low-cost fee, it targets to make deeper inroads into smaller towns and cities in India.
Other players in the stockbroking market like Zerodha, Sharekhan, Angel Broking too offer F&O trading options. Recently, the National Stock Exchange too had launched derivatives on the Nifty Financial Services Index. On the first day itself, NSE recorded trades worth ₹511 crore.
Paytm Money, which claims to have over 7 million users, has been expanding its portfolio of offerings. Having started off as a platform for mutual funds, Paytm Money went on to launch stock market trading, along with other financial services like ETF, IPO, NPS, and also digital gold.
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