Media Release
BSE StAR MF simplifies its platform for distribution and IFAs with additional services
Adds four news services, Distributor Common/Auto Empanelment, Distributors’ Brokerage Services, StAR MF mobility app for iOS users and IFA portfolio services
Mumbai, 19 November 2019: BSE StAR MF, India's largest Mutual Funds Distributor platform, is working on ways to transform the platform to a unique end-to-end value-based services one. The platform has launched four new services, which are:
- Distributor Common/Auto Empanelment: A seamless IFA empanelment services between BSE and AMCs, which saves time and effort of IFAs and makes empanelment process simpler.
- Distributors’ Brokerage Services: For all BSE StAR MF transactions, BSE will compute, collect and distribute commission to distributors. This path-breaking value added service will clearly demystify the complex brokerage processes, make it efficient and add great value to mutual fund distributors.
- StAR MF mobility App: The app was launched in May for Android users and now is made available on iOS with additional features.
- IFA Portfolio Services: BSE StAR MF has tied up with Vijaya iPrism to provide mutual fund back office platform for BSE StAR MF IFAs. With this additional service, IFAs now can track different business dashboard, client portfolio report/holding statements and more. The services will be free of cost for BSE StAR MF IFAs.
Commenting on the newly-launched services, Shri Ganesh Ram, Head BSE StAR MF ,BSE said, “All these services will go a long way in strengthening the mobilisation of domestic funds flowing into the capital markets. These services are clear indicative of BSE's vision to move away from being a traditional transactional-based platform to an exceptional one with value-added services. We are confident of touching a milestone of 50L transactions/month and 10L transactions/day very soon, specifically with these value-added services.”
With its superior support system and distribution reach, BSE StAR MF is growing exponentially with more than 55,000 distributors already registered on the platform. The platform has already set up a new transactional benchmark of processing 46.76L transactions/month and 7.84L transactions/day.
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, 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.
Media Contact
Yatin Padia / Rahul Vyas/ Shruti Nitesh
022 2272 8516 / 2272 8472/ 8108000974
Yatin.padia@bseindia.com/ Rahul.vyas@indiainx.com/ shruti.nitesh@adfactorspr.com