BSE StAR MF processes over 81,000 orders in single day

Leading stock exchange BSE's mutual fund distribution platform BSE StAR MF Monday processed more than 81,000 orders worth Rs 270 crore, a record high for a day.

It has already processed over 32.65 lakh orders, amounting to over Rs 43,000 crore in the current financial year.

Read more from our special coverage on "MUTUAL FUND"

• Cost is important, but so is advice
• Equity MF inflows hit 21-month low
• Tax relief on merger of MF schemes to benefit investors

On March 23, the mutual fund platform received MF orders to the tune of Rs 1,048 crore.

"Today BSE's mutual fund distribution platform BSE StAR MF has processed more than 81,000 orders worth Rs 270 crore - a record high for a day," the exchange said in a statement.

Prior to this, the MF platform had executed over 72,000 orders on December 30, 2015.

Earlier this month, BSE announced a host of new services on its MF platform including digital non-demat transactions, round the clock order acceptance and six day order holding facility to help investors and distributors of such products.

In 2014, capital market regulator Sebi had allowed mutual fund distributors to use the stock exchange platform for non-demat transactions as well as for sale or redemption of these financial products.

The move was aimed at allowing mutual fund distributors to leverage the stock exchange platforms to expand their reach.