In this backdrop, Hansraj says, Kotak Securities is a well-capitalised broking house with a net worth of over Rs 4,000 crore, and a subsidiary of Kotak Mahindra Bank Ltd. “We strictly segregate client's stock from ours, by keeping their stock in their individual demat accounts. In fact, till date, we have neither pledged clients’ stock with any bank/NBFC to borrow nor with the Exchange /Clearing Corporations, which is a common practice in the industry. Reputation is far more important for us than commercial gain, and hence our clients can be assured that they are doing business with a trusted institution,” he added.
Equity derivatives house of the year: Bank of America
Bouts of intense volatility in 2018 left dealers and investors facing two big, hairy problems in 2019. First, scorched by the year-end stock market sell-off, the supply of cliquet options that powers the $70 billion fixed index annuity market – popular with US retirees – started to dry up. Second, with yields elsewhere stubbornly low, investors continued looking for ways to bet against volatility, while also asking for protection against a swift reversal.
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