Media Release
BSE StAR MF processes 8.56 lakh transactions; clocks 1287 cr in a day
Mumbai, August 14, 2019: BSE StAR MF, India's largest Mutual Funds Distributor platform, processed 8.56 lakh transactions on August 13, 2019. The platform clocked Rs 1287.12 crore, an all-time high.
The previous best was 7.62 lakh transactions on 10th June 2019.
BSE StAR MF platform has around 26,500 IFAs registered with them. BSE’s newly-launched BSE StAR MF app (StAR MF Mobility) has processed over 26,000 transactions since its launch, amounting to Rs 470 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 are enabling the platform to grow exponentially with over 26,000 registered distributors in India.
About BSE
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 demutualised 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, 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 delivery-based futures contract in gold (1 kg) and silver (30 kg).
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.
Media Contact:
Yatin Padia / Rahul Vyas / Mihir Dani/ Shruti Nitesh
022 2272 8516 / 2272 8472 / 7738012080/ 8108000974
Yatin.padia@bseindia.com/Rahul.vyas@indiainx.com/mihir.dani@adfactorspr.com/ shruti.nitesh@adfactorspr.com