BSE to charge transaction fee on mutual fund platform orders
Transaction charges—varying from Rs 6 to Rs 30—will be levied on all orders routed through its mutual fund platform
New Delhi: 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 Thursday. 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 1 December 2016, transaction charges shall be levied on all orders being routed through the BSE Star MF platform,” BSE said in 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.