Where do high big rich HNI like e.g. rakesh jhunjunwala ; and F.i.i ; and D.i.i. etc . Open trading and demat accounts for tradings ?
Where do high big rich HNI like e.g. rakesh jhunjunwala ; and F.i.i ; and D.i.i. etc . Open trading and demat accounts for tradings?
High big rich like Rakesh Jhunjhunwala and others do not open their Demat account with ordinary brokers.They invest in stocks by opening their own investment firm because the brokerage generated by them is in crores and can make anyone so rich. So they open their own investment firm or a company and then invest the money.
How much it costs to open normal investment firm , just to place order , no tick data etc.
Do u mean they take alpha membership of the exchange?
There are almost 2000 members on the stock exchanges, only around 300 to 400 of them cater to retail clients. The rest of them use it for prop trading or trading for their own self. So yeah some of the HNI crowd which trades actively have their own membership on an exchange. But that said many of them who don’t want to take the additional compliance burden of being a member trade through brokers as well, but use multiple brokers so that no one can front-run them - which is a big problem in the traditional broking setups. Dealers, etc when they know a certain big boy is buying/selling might pass on the message.
The FII/DII crowd usually will have multiple brokers empanelled. Their team then votes to decide through whom to take a particular trade.
What will be the cost if I want to become member of NSE and trade only for myself ?
It will be useful for me , since I am developing HFT system , which is capable of taking 200 too 500 trades per day