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Our Bureau

`As awareness of the software spreads, more and more clients would become active.'

Chennai , April 21

After it brought in the `Tipco' software from Reuters last year, Geojit Financial Services Ltd began to see a marked increase in the number of online traders, the company's Managing Director, Mr C.J. George, said today.

At a press conference here, Mr George said that daily online trading volumes increased ten times from the pre-Tipco levels of Rs 15 crore a day.

The Kochi-based broking company today has about 80,000 registered online clients, of whom about 10,000 are active. Mr George, who was here for the launch of an all-women branch in Chennai, said that the software from Reuters made online trading easy.

As awareness of the software spreads, more and more clients would become active, he said.

He said that Geojit's overall daily volumes increased from Rs 400 crore at the beginning of last year to about Rs 1,000 crore towards the end.

Geojit has about three lakh clients which it hopes to raise to five lakhs in the next two years. Towards that end the company intends to add another 150 branches in the current year to its existing network of 360 branches.

About fifty of the proposed branches would be company-owned, rest would be franchisees. Answering a question, he said that it cost roughly Rs 10 lakh to open a branch and it does not take more than six months to break even.

The all-women branch that is to be launched on Saturday is Geojit's third, after Kochi and Mumbai. Mr George explained that the company's researches showed many women felt more comfortable in an all-women branch and hence the initiative.

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Geojit sees a marked jump in online traders

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