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SAMCO Proprietary Trading
Jimeet Modi's SAMCO started as an Indian proprietary trading desk in 1987 and evolved into a tech-led brokerage and asset manager serving active retail...
SAMCO Proprietary Trading
Jimeet Modi launched SAMCO in 1987, operating as a proprietary trading firm before expanding into retail brokerage and algorithmic trading technology. The firm is headquartered in Mumbai with additional offices in Chennai, Bangalore, Delhi, Singapore, and Dubai. Its growth mirrors the evolution of India's listed derivatives market, where individual traders now account for a significant share of daily turnover. SAMCO runs two regulated entities under the Securities and Exchange Board of India: SAMCO Securities Limited, the brokerage arm, and SAMCO Asset Management, which in 2022 received SEBI approval to launch mutual fund products. The brokerage business covers equities, commodities, currencies, and futures and options, targeting the do-it-yourself trader with flat-fee pricing. Its signature product, 'Trade API,' lets algorithmic traders connect custom strategies directly to exchange infrastructure. The asset management arm, led by CEO Omkar Shirhatti, introduced India's first active-passive hybrid funds — combining passive index overlays with active derivatives strategies — and disclosed crossing Rs 1,000 crore in assets under management within its first year of operations (per the firm, 2023). The firm operates roughly 45 branches nationally and serves over 200,000 active clients. In January 2025, SAMCO Asset Management filed for a new fund offering that uses covered-call strategies on the Nifty 50, extending its derivatives-based product line. The group's architecture splits trading technology, brokerage distribution, and fund management into separate legal entities under common control, a structure that limits cross-subsidization but complicates integrated client reporting. Its back-end risk engine, 'Optimus,' scores client portfolios for margin adequacy and concentration risk in real time — a direct descendent of the firm's proprietary-trading heritage. SAMCO's structural distinction is its proprietary-trading DNA embedded inside a retail brokerage wrapper. Unlike pure discount brokers that compete on price alone, SAMCO monetizes its own risk models through client platforms and now through regulated mutual fund products — making it a vertically integrated Indian trading-and-investing house whose margins depend on traders continuing to trade actively through its systems.
General information
Firm type
Asset Manager
Year founded
1987
AUM
Undisclosed
Location
Region
Asia
Country
India
City
Mumbai
Corporate office
Mumbai, Maharashtra, India
Additional offices
Chennai, India · Bangalore, India · Delhi, India · Singapore · Dubai, UAE
Principals
Jimeet Modi
Founder & CEO
Omkar Shirhatti
CEO, SAMCO Asset Management
Sector focus
Frequently asked questions
Who founded SAMCO and what was its original business model?
Jimeet Modi founded SAMCO in 1987 as a proprietary trading firm. The firm operated its own capital in Indian listed equities and derivatives for more than two decades before expanding into retail brokerage services. This trading heritage shapes its product suite, which emphasizes risk-management tools built originally for internal use.
Is SAMCO primarily a brokerage or an asset manager?
SAMCO operates both a discount brokerage, SAMCO Securities Limited, and a mutual fund business, SAMCO Asset Management. The brokerage arm targets active retail traders with flat-fee pricing and algorithmic trading APIs. The asset management arm, which received SEBI approval in 2022, runs active-passive hybrid funds and reached Rs 1,000 crore in AUM within its first operational year (per the firm, 2023).
What trading products does SAMCO Securities offer in India?
SAMCO Securities provides access to equities, equity futures and options, commodity futures, currency derivatives, and mutual funds on BSE and NSE. Its 'Trade API' product also supports programmatic order placement from third-party trading algorithms. The brokerage operates under a flat-fee pricing model with no percentage-based brokerage on delivery trades.
What is unique about SAMCO Asset Management's fund architecture?
SAMCO Asset Management was an early mover in India's active-passive hybrid fund category, introducing products that combine passive index replication with active derivatives overlays such as covered calls. In early 2025, it extended this line with the SAMCO Active Momentum Fund, an equity scheme that follows momentum-factor strategies. The structure is regulated by SEBI as a full-service mutual fund house.
Where does SAMCO maintain its regulatory licenses?
SAMCO's regulated entities are registered with the Securities and Exchange Board of India. SAMCO Securities Limited holds SEBI registration as a stockbroker and depository participant. SAMCO Asset Management holds SEBI approval as a mutual fund sponsor and investment manager. The firm also maintains a presence in Singapore and Dubai, though public detail on the scope of those operations is limited.
Does SAMCO have any institutional or proprietary trading business today?
SAMCO's public-facing businesses today are the retail brokerage and the mutual fund arm. The original proprietary trading heritage is primarily reflected in its technology stack — specifically the 'Optimus' risk engine — rather than in a disclosed separate proprietary book. There is no public evidence of a standalone institutional proprietary trading unit operating alongside the regulated brokerage and asset management entities.
How is SAMCO structured across its different business lines?
The parent group separates its brokerage, asset management, and technology functions into distinct legal entities. SAMCO Securities Limited runs the brokerage, SAMCO Asset Management runs the mutual fund business, and a technology unit develops the trading platforms and the Optimus risk engine. The structure limits inter-subsidiary funding but allows each entity to meet its own regulatory capital requirements independently under SEBI oversight.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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