BSE StAR MF created new record, processed over 10.10 lakh transactions on a single day
Surpasses its old record high of 8.79 lakh transactions on a single day
Mumbai, February 10, 2020: Continuing its stellar performance, BSE StAR MF, India's largest Mutual Funds Distributor platform, has processed 10.10 lakh transactions on 10th February 2020 amounting to Rs.1,075 Cr. The previous best was 8.79 lakh transactions in November 2019. Overall, the platform has surpassed 4.47 crore transactions in the current financial year for the period April to January 2020.
· BSE StAR MF transactions has grown by 58% when compared to last year same period (from Jan’19 to Dec’19 BSE StAR MF processed 4.99 crore transactions compared to previous year Jan’18 to Dec’18, 3.16 crore transactions).
· The platform has also shown a growth of 16% in terms of Turnover (Rs. 1,75,654.7 crores in the period Jan’19 to Dec’19 viz a viz Rs. 1,51,185.5 crores for the period Jan’18 to Dec’18).
· The current StAR MF SIP book size is 36.81 Lakhs amounting Rs 1058.28 crores.
· The platform had registered 1.13 lakh new SIPs amounting to Rs 32.48 crore for the period 1 Feb to 10th Feb 2020.
BSE StAR MF app (StAR MF Mobility) has processed over 2.26 Lakh transactions since its launch, amounting to Rs 1990.7 crore. The app was launched to help the distributor and the IFAs (Independent Financial Advisors) to register clients on real-time basis and execute paperless transactions. It is the superior support system and distribution reach of BSE StAR MF that is enabling the platform to grow exponentially with over 55,000 registered distributors in India.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
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