A WEB-BASED ORDER ROUTING SYSTEM for Allotment & Redemption of Mutual Fund units with Facilities like Branch & Dealer Admin Creation and Assigning Client-level Transaction Limits.
BSE launched its StAR MF platform on December 4, 2009 in the presence of Mr. C B Bhave, Chairman-SEBI and Mr. A. P. Kurien, Chairman - AMFI, with a galaxy of CEOs of several leading MF houses. The platform is available for entering transactions between 9 a.m. to 3 p.m. on all working days of the Exchange. All BSE members in the Cash segment are allowed to transact in the BSE StAR MF, subject to their fulfilment of specified documents for activation as a Mutual Fund Intermediary (MFI). The activation process towards becoming a MFI is simple and free of cost.
Advantages to investors / other stakeholders of using BSE StAR MF:
 |
Reduction of paper work: with respect to application forms,
cheques, collection statements, etc. especially in Demat accounts.
Faster Execution: Allotment by way of Demat
credit and hence Investors can get Demat units on the next working
day.
|
|
|
 | Reduction of paper work: with respect to collection/submission
of application forms & cheques, collection statements, etc.
especially in Demat accounts.
Faster Execution: Allotment by way of Demat
credit and hence Investors can get Demat units on the next working
day.
|
- Browser-based front end
- Architecture provides scalable operation and flexible
deployment options
- Link-ups with both depositories CDSL and NSDL.
- Facility for one-time registration of client, Report
generation facility.
- Branch, Dealer admin creation & client level
limit allocation.
- Detailed information on various schemes.
|
- ARN (AMFI Registration No): In the Name of the Firm
(Same name in which the member is registered in the
cash segment in BSE).
- AMFI certificate
- Board resolution
- Letter of Application on member’s letter head
- Undertaking by member to Exchange (on Rs.200 Stamp
paper - Notary not required).
- Separate Bank Settlement A/c for MF segment
|
|
New Membership registration fees at the time of application: (Membership at BSE for Mutual Fund Segment only)
| Deposit
for Membership (Interest free, refundable) |
1,00,000/- |
| Admission
Fees |
50,000/-(
plus applicable GST ) |
| Annual
Membership fees |
75,000/-
( plus applicable GST ) |
| Processing
fees |
1,000/-
( plus applicable GST ) |
|
BSE StAR MF (BSE Limited Platform for Allotment & Redemption
of Mutual Fund Units): Process Flow
Process Flow: (Timelines)
| T
Day |
|
Order
capture for subscription and redemption on the BSE StAR
MF
- In case of L0 schemes
- In case of L1 schemes |
9.00
am – 3.00 pm
9.00 am – 1.00 pm
9.00 am – 2.00 pm |
Subscription
and Redemption Order status report and Final funds obligation
Report
- In case of L0 schemes
- In case of L1 schemes |
6.30 pm
1.30 pm
2.15 pm
|
Fate
of pay in
- In case of L0 schemes
- In case of L1 schemes
|
1.30 pm
2.15 pm
|
| Allocation
of units in case of L0 schemes |
4.00
pm |
| T+1
day |
|
| Fate
of pay in (Normal Schemes) |
9.30
am |
| ‘Payment
received' and ‘Payment not received' indication by MFIs
to ICCL |
10.30
am |
| Allotment
and Redemption information from RTA (Units) |
2.00
pm |
| Credit
in the depository account of the investor |
End
of day process at Depository(6.00 pm) |
| Redemption
proceeds credit in investor bank account/cheque dispatch |
As
per TAT |
|
AMFI Certification now available through BSE’s Training Institute: click :-
https://www.bseindia.com/training/AMFI_adv.asp
Application forms for BSE StAR MF: