Systematic Investment Plan on StAR MF
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Member Brokers(MFIs)
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.



Salient Features Eligibility Criteria
  • 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)

Particulars Amount (Rs.)
Deposit for Membership (Interest free, refundable) 1,00,000/-
Admission Fees 5,000/- + Service Tax
Annual Membership fees 25,000/- + Service Tax
Processing fees 1,000/- + Service Tax


BSE StAR MF (BSE Limited Platform for Allotment & Redemption of Mutual Fund Units): Process Flow





Process Flow: (Timelines)


Activity Requirement
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 :-
http://www.bseindia.com/training/AMFI_adv.asp

Application forms for BSE StAR MF: