Distributors voice concerns with NSE's updated mutual fund platform

MF distributors flag concerns over client mapping and data security in NSE's upgraded platform, but the exchange says extensive testing was done and transactions remain seamless

Mutual fund (MF) distributors using the National Stock Exchange’s (NSE’s) online platform have flagged multiple issues following a recent upgrade.

 

According to the Foundation of Independent Financial Associates (Fifa) India, a pan-India association of distributors, the updated system has led to concerns around data security, client mapping, transaction processes, and payments.

 

One of the key issues highlighted is flawed client mapping. “Client mapping has not been done correctly. All clients under the main broker are visible to all sub-brokers. This is a serious breach of data security. In the earlier platform, client segregation was maintained," the association stated in a