NSE to launch physical subscription on Web-based MF platform

Leading bourse NSE will launch a facility tomorrow that allows market participants to place physical subscription

New Delhi, Oct 13 :  Leading bourse NSE will launch a facility tomorrow that allows market participants to place physical subscription, redemption and registration for Systematic Investment Plans (SIPs) on its Web-based mutual fund platform. Mutual Fund Service System (MFSS), an MF Web-based platform, is an online order collection system from NSE for its eligible members for placing subscription or redemption orders. (Also Read: IBM sets up public data centre in Chennai)

“The exchange is now introducing the facility to allow participants to place physical subscription/redemption and SIP registration on Web-based MFSS platform,” NSE said in a circular issued today. “The facility shall be made available from October 13, 2015.” Earlier in June, NSE had introduce an overnight liquid transaction facility on its Web-based MF platform.
The facility lets traders, especially small investors, invest even for a single night in liquid funds.