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April 19, 2007 11:02 IST
Reliance Money, India's comprehensive financial services and solutions provider, has tied up with Chicago-based Alaron Trading Corporation, a global, full-service commodity futures brokerage firm.
The global partnership will enable traders in India to execute trades via the leading international commodity futures exchanges in the world, including the CME, CBOT, NYMEX and NYBOT.
"Expanding our global presence, especially with a company of the stature of Reliance Money, allows Alaron to seamlessly embrace the rapid expansion in the futures market," Scott Slutsky, Managing Director of Alaron Trading, told news agencies.
Alaron's trading platforms offer direct access to virtually every electronic and pit-traded contract in the world. Reliance Money will facilitate the trading process through its 88 branches and 2,200 outlets in India.
"Through this important window provided by Alaron, our customers in India will be in a position to readily trade international commodity futures in a cost effective, convenient, and secured manner," said Sudip Bandyopadhyay, Director of Reliance Money.
Reliance Money is a subsidiary of Reliance Capital, one of the top three private-sector financial services and banking groups in India.
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