Media Release
BSE StAR MF reaches new highs, processes over 11.58 lakh transactions on a single-day
Outshines former highest single-day record of 10.35 lakh transactions.
Mumbai, April 13, 2020: Continuing its stellar performance BSE StAR MF, India's largest Mutual Funds Distributor platform sets an all new record by registering an all-time single-day high transactions for the third consecutive month amidst these challenging times.
As all the mutual funds have decided to channelize their transactions through online platforms and despite the outbreak of Covid-19, BSE StAR MF has registered 11.58 lakh transactions on 13th April, 2020 outdoing its previous best record of 10.35 lakh transactions (on 11th March,2020).
Commenting on this, Mr. Ganesh Ram, Business Head-Mutual Funds, BSE StAR MF said, ‘BSE StAR MF has a simplified distributor empanelment process and a superior technology architecture in place that offers seamless experience to all the participants. The regional team of BSE StAR MF has been personally handholding many distributors who have been doing physical transactions, to switch over to the online platform. BSE StAR MF is grateful to all its members, and owes its achievement to its unwavering team spirit, culture of hard work & commitment to leave no stone unturned even during tough times.’
· BSE StAR MF witnessed a whopping 60 % growth in transactions during fiscal year ending Mar ‘20 in comparison to same period last year. It has processed 5.75 crore transactions (Apr’19 to Mar ‘20) compared to previous year (Apr’18 to Mar‘19), which was 3.59 crore transactions.
· The Annual Turnover during FY 19-20 was Rs. 4,23,864 crores.
· The current StAR MF SIP book size is 39.01 Lakhs amounting Rs. 112.16 crores as of Mar 2020.
· The platform registered 96,091 new SIPs amounting to Rs. 27.62 crore for the period 1st Apr to 13th Apr 2020.
· BSE StAR MF’s Distributor count has seen multi-fold increase to 56,919(as on date).
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 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.
SE 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.
ndian 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.
Media Contact:
Yatin Padia / Rahul Vyas/ Shruti Nitesh
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