Business Ideas

BSE to also offer MF trading from Friday

The Bombay Stock Exchange (BSE) on Tuesday said it would launch a trading platform for mutual fund (MF) units on December 4. The move comes a day after the National Stock Exchange (NSE) launched a similar platform. Central Depository Services Ltd will be the BSE’s depository partner. - Template investing: Good in a downturn - HDFC hikes stake in HDFC Bank through warrant conversion - More Mutual Funds line up to trade on NSE - BSE to also launch MF trading on December 4 - Yes Bank set for mega retail push - FIIs net buy Rs 579cr, DIIs net sell Rs 125cr Tata Asset Management Company would be the first to list its units on the BSE platform. The NSE had started trading with 30 schemes of UTI Mutual Fund. Trading of MFs units on stock exchanges is likely to pick up following the ban on entry load for equity schemes. The entry load charged from investors was being passed to distributors. While there would be no entry load on investors in MFs through stock exchanges, stock brokers would be able to charge a brokerage fee. Also, the stock exchanges would charge a nominal transaction fee, which the NSE has waived for the first few months. In addition to this, the Association of Mutual Funds Industry (AMFI) is planning to launch another MF trading platform for investors who do not have a demat account. The account is a must for investors willing to buy MF units from stock exchanges. After the launch of the platform, the BSE was planning to launch data feed that would be several times faster than the existing one, said a top BSE official. The BSE’s “fastcast” technology will deliver data to brokers at 500- 700 kilobytes per second, compared with the present speed of 100-150 kilobytes per second. The rollout of this low-latency feed is targeted mainly at algorithmic traders.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

Categories
Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business
News of the day
V V: Berlin Wall, 1989 and after
All successful publishers and authors have an impeccable sense of timing and generate literature with an eye upon the calendar. So it isn’t surprising that we have a flood of books on the fall of the Berlin Wall that started the process of disintegration of the Soviet Union and the collapse of communism in Europe. But what we have is an embarrassment of riches which try to unravel why such an all-embracing system that Alexander Solzhenitsyn described as “all pervasive, paranoid, oppressive, incompetent, lethal” in the latest edition of The First Circle (Harper, $18), came to an unexpected end. Almost everyone had expected that it would have to be killed; instead it collapsed, as if a house had fallen in on itself. What happened?
Popular Articles

Bhushan Steel's Aussie takeover in fresh doubt
Bhushan Steel (Australia)’s acquisition of Australian coal and mineral exploration company, Bowen Energy, has hit the Australian Takeovers Panel hurdle, with the board ordering a re-valuation of the coal tenements held by Bowen.

Bulls to hold sway above 17,380
The markets struck positive notes at the beginning of the year with the benchmark indices touching their fresh 22-month highs. The Sensex scaled a high of 17,790, but eventually ended with a marginal gain of 75 points at 17,540 this week. Mid- and small-caps outperformed the benchmark with significant gains of 3.4 per cent and 4 per cent, respectively.

© Copyright 2009