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Asia’s oldest bourse BSE has said that transaction charges, varying from Rs 6 to Rs 30, will be levied on all orders routed through its mutual fund platform from today.
BSE runs the mutual fund trading platform — BSE Star MF.
The platform provides a range of services for easy transactions and seamless order flow for asset management companies (AMCs).
“In order to cover the costs of operations, all participating mutual funds/AMCs are hereby informed that with effect from December 1, 2016, transaction charges shall be levied on all orders being routed through the BSE Star MF platform,” BSE said in a statement.
Mutual fund distributors can use the stock exchange platform for non-demat transactions as well for sale or redemption of MF products.
BSE Star MF is the largest MF distributor platform in India with more than 4 lakh SIPs (Systematic Investment Plans) per month.
On many occasions, the platform has exceeded 70,000 orders per day.
As per the exchange’s estimate, BSE Star MF accounts for more than 8 per cent of traction taking place in Indian mutual fund houses.
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