This is in continuation to the Notice No. 20220527-16 dated May 27,2022 with regards to ‘Discontinuation of usage of pool accounts for transactions in units of mutual funds on BSE StAR MF Platform’
MFIs/MFDs/RIAs are hereby informed that Exchange shall be going live with the changes in system with effect from July1, 2022.
In view of the same, there shall be downtime in the system on Thursday June 30, 2022 from 03:00 PM onwards till 06:00 AM on July 1, 2022
Members are hereby requested to note the following :
· Any type of transactions / systematic registrations shall not be allowed after 3:00 pm on June 30, 2022.
· All purchase transactions of MFIs including Lumpsum/SIP/XSIP/ISIP/Spread Order wherein the funds are awaited shall be rejected after 02:30 pm on June 30, 2022.
· In case of valid redemption/SWP transactions received on or before June 30, 2022, the funds received as per the TAT of the scheme from July 1, 2022 onwards shall be credited directly to the investors account.
· All transactions wherein the authentication is awaited, shall be rejected on June 30, 2022
· Also, if any transactions is received post 02:30 PM and is in Offline, shall be rejected.
· If for any of the transactions mentioned above funds are received post cut-off, the same shall be refunded to the source bank account.
· Also, members are requested to note that all systematic registrations received post respective cut-off shall be cancelled in the system.
· Members are requested to note that they may place fresh orders for their clients post the system is made live.
· Members to note that refunds received by ICCL after July 01, 2022 for purchase transactions placed by the member prior to July 01, 2022, shall be credited to the Members pool account.
· Members to note that the pending demat units not received till June 30, 2022, shall be credited in the end investors account, w.e.f. July 01, 2022.
· It may be clarified that while BSE/ICCL will take various effective methods to ensure to transfer the funds before the cut-off time in the AMC’s bank account so that the investment of the client, will be eligible for the historic day and same day NAV for Liquid and Non-Liquid transactions respectively, ICCL/BSE or any one of its staff members cannot be held responsible in the event of delay in transfer of the funds on account of any unforeseen circumstances/Issues in banking system/ or any other problems that may result a delay in crediting the funds in the AMC’s bank account and the client will be eligible to get that day’s NAV in which the funds are realised in the AMC’s bank account.
All members using third party vendor solutions and/or in-house developed trading application are hereby requested to take note of the above and arrange to initiate necessary development at their end.
Members are hereby requested to extend their co-operation for this activity.
Please find below link to the earlier notices issued for your reference:
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220324-52
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220328-51
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220331-49
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220422-34
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220506-29
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220527-16
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220315-36
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220429-38
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Dy. General Manager – Mutual Funds |