By Tricitynews
Chandigarh 02nd
Aug:- ICICI Securities Limited (I-Sec),
India’s leading technology based securities and financial products distribution
firm, today said that it has extended its popular eATM facility – the near real
time credit of share sale proceeds-- for trades on the National Stock Exchange
Ltd. (NSE) as well.
Under eATM, the ICICIdirect account
almost becomes like an ATM where clients can sell their stocks and within 30
minutes the sale proceeds gets credited to their account, against the usual
waiting period of T+2 days under the current settlement system. eATM
gives new dimension of liquidity to stock investing by helping clients remain
invested in the market till the 11th hour. This facility comes at no extra cost
and has a daily limit of ` 50,000 per client, helping clients meet any
emergency fund requirement.
eATM facility, originally applicable
for trades on the BSE Ltd. (BSE) only, has now been extended to NSE as
well. About 600 stocks in the cash segment, accounting for over 95% of
market cap, are under eATM coverage.
Vijay
Chandok, MD & CEO, ICICI Securities, said that since the launch of eATM in December 2018, we have
seen a great response from our clients as it has helped them manage their cash
flow and meet emergency fund requirement. They are able to remain invested
in the market for longer as the share sale proceeds are credited on a near
real-time basis to their bank accounts. We are happy to extend this facility on
the NSE as well and are sure that our clients will greatly benefit and utilise
this facility which comes at no extra cost to them.
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