After launching its mutual fund (MF) transaction platform, Asia's oldest bourse Bombay Stock Exchange (BSE) is considering a new facility that will allow distributors to directly access the new platform in a more efficient manner.
The exchange is discussing the proposal with market regulator the Sebi and hopes to launch the new facility over the next two to three months.
There are around 70,000 distributors in the country and even if at least 10,000 of them access this facility, that will be a very encouraging sign. Distributors generally access the MF platform through registrar and transfer agents (RTAs).
The new facility will enable them place orders directly from their own terminals through a browser based system, which will be fast.
This will help to enhance the efficiency of transactions by faster realisation, the official added.
BSE launched its MF transaction platform--BSE Star MF in December on the heels of rival the National Stock Exchange launching its own facility.
As on date, 14 found houses have joined the BSE Star MF platform to offer their schemes.
BSE is also readying to launch its mobile phone platform to facilitate MF transactions and is at present testing the facility.
The facility, which is expected to be launched soon, will allow brokers to place orders from their mobile phones on the BSE Star MF platform and add more convenience to the transaction process.
Moving ahead, the exchange is planning to offer the mobile transaction facility to investors as well.
