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Non-Tech : ICICI Ltd - (Nyse: IC) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (460)3/27/2000 10:28:00 AM
From: Mohan Marette  Read Replies (1) | Respond to of 494
**OT** L&T launches financial portal

Larsen & Toubro Limited (L&T) and BlueStone Capital Partners, L.P. of USA (BlueStone Capital), have signed a Memorandum Of Understanding to jointly partner a full service financial portal in India utilizing BlueStone Capital's TM global internet platform trading system. Plans are underway to link to over 75 countries through partnering with international financial institutions around the globe. The key advantage of the local platform jointly promoted with L&T, customized for India, would be that this would form a part of the global network of

BlueStone Capital Partners, L.P. is an investment and merchant banking institution of which is a division. Founded in 1996, BlueStone Capital is growing rapidly while it pioneers new uses and redefines the very foundation of the Internet for the financial services industry. has the information and flexibility to provide Indian investors across various financial markets access to timely, updated information on a continuous basis. Besides expected superior performance and execution, this financial service portal will ensure clients a global reach, which is a major differentiator from other systems, given that the Indian markets will eventually open to the rest of the world.

The system will allow not only Indian investors but also investors abroad, including NRIs, access to conduct trades in Indian Markets. In addition, when Indian laws permit, the system will allow Indian investors to execute trades in securities around the globe in `real time` and perform full convertibility of the currency in conjunction with the transaction. Since this platform is fully tested, the time to market in India is expected to be very brief, subject to customization of the system for local requirements. This financial service portal would initially offer securities trading via the Internet. It also has the capabilities of providing sophisticated decision support systems using quality content for the investors to assist in their decisions for trading in securities.

This initiative is in line with L&T's strategic thrust in telecom and information technology as recommended by Boston Consulting Group. L&T has LTITL as software service provider and L&T Finance Limited for domain knowledge.