WSD Global Markets, a New Zealand-based financial services firm, has expanded its operations in India, as part of a strategy to grow its worldwide forex, commodities and other financial CFDs business.
WSD has entered into an introducing broker relationship with an existing business to establish an office in a heritage building in South Mumbai, where a number of India’s major financial institutions are based.
Under the partnership, WSD India, which is an independent operator, will market a range of products including futures and options, Spot FX and CFDs, in addition to introducing new business to WSD Global Markets in New Zealand.
Among the new products that WSD will be targeting in the Indian market is an outsourced Derivatives Desk, which has just been launched to specialize in managing risk on behalf of medium and smaller sized banks and other non-bank financial institutions.
Riaz Patel, managing director at WSD, said: “We have had ongoing relationships in India through other financial providers but we felt it was time that WSD had a much stronger presence here, particularly as we introduce new financial products to the market.
“We have had ongoing relationships in India through other financial providers but we felt it was time that WSD had a much stronger presence here, particularly as we introduce new financial products to the market.”