PhonePe stock broking business Share.Market has introduced Futures and Options (F&O) trading as the firm looks to expand its offerings to grow active users on its platform.
"The introduction of F&O capabilities on Share.Market enhances the platform's offerings, with a comprehensive Option chain analysis to track Options," The firm said in a statement on April 5.
The firm also has added an enhanced option chain, Put Call Ratio (PCR), and easy visualization of Open Interest (OI) change, together with charting capabilities of individual Future and Option instruments on its platform.
"Many more features around hedging, mechanics for strategy selection, building blocks behind strategy execution and management are all in the pipeline," said Ujjwal Jain, CEO, Share.Market.
Walmart-backed PhonePe announced on August 30 its entry into the stock broking business with the launch of its app called "Share.Market". The app will allow users to trade and invest in stocks, mutual funds, and ETFs (exchange-traded funds).
"Within seven months of the launch of the business, there are over 1.55 million market lifetime customers with over 1.4 million monthly active MF SIP transactions. In addition, Share.Market has been able to provide access to Intelligence to over 75,000+ users (daily app engagement) with 1.5 lakh demat accounts," the firm said in a statement.
The space is currently dominated by players like Zerodha, Groww and Upstox.
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