HDFC securities Launches SKY Direct, Enabling Instant Trading With Smart Bank-Linked Funding
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓HDFC securities launched SKY Direct today, allowing HDFC Bank customers to trade instantly without pre-funding accounts.
- ✓The feature uses a smart mechanism to hold money in bank accounts until trades settle.
- ✓"With SKY Direct, we are taking the friction out of funding," said MD and CEO Dhiraj Relli.
Story at a Glance
- Category
- MARKET
- Reported By
- The Hindu
- Reading Speed
- 6 Minute(s)
- Market Focus
- India Economy
HDFC securities, one of India's leading brokerage firms, today announced the launch of SKY Direct, an instant, bank-linked funding feature on its digital investment platform HDFC SKY, designed exclusively for HDFC Bank customers. SKY Direct lets investors add funds and trade in one click without parking money with the broker in advance, ensuring zero idle money and higher capital efficiency.
SKY Direct is built on a smart Hold-Release-Transfer (HRT) mechanism that fundamentally changes how investors fund their trading accounts. When a customer adds funds via SKY Direct, the chosen amount is placed on hold in the linked HDFC Bank savings account and is instantly reflected as available limits in the HDFC SKY trading account. At the end of the trading day, only the amount used for executed trades is transferred to HDFC SKY for settlement, while any unused portion is automatically released back to the customer's bank account.
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The Hindu
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