NSE to launch physical subscription on web-based mutual fund platform

NEW DELHI: 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.

"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 introduced 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.