Upstox launches high speed margin trading facility

New Delhi, Dec 14 (PTI) Ratan Tata-backed online broking company Upstox Friday said it has introduced margin trading facility for its customers that would enable investors get instant funding to meet their margin requirements while dealing in equities. Margin trading facility (MTF) in stock market parlance refers to a mechanism under which individual investors purchase more stocks than they can afford to. The facility has been launched to benefit positional traders, swing traders and investors buying stocks for short duration. It allows users to get a two-times leverage on buying delivery stocks, it said. Under the facility, investors will need to put in 50 per cent of the funds and Upstox would fund the remaining margin requirement of up to Rs 5 lakh. Upstox (formerly RKSV Securities), the new-age online discount broking company, is funded by Ratan Tata, Kalaari Capital and GVK Davix. "With more and more retail investors coming into the markets now, we realised there was a need for a MTF product which could be easily and instantaneously accessed from laptops or cellphones of investors to enable them to grab more opportunities," Upstox Founder and CEO Ravi Kumar said. PTI SRS SP SHWMKJ