NSE may levy transaction charges for mutual fund platform

National Stock Exchange is likely to follow in the footsteps of BSE, and levy a transaction fee for using its mutual fund platform, NSE NMFII, according to officials in the industry.

Transaction platforms like NSE NMF II offer variety of services such as allocation and transfer of funds, reconciliation of fund, maintaining CMS, transaction reporting, e-mandate, among others.

At present, around 3,000 distributors use NSE NMFII to execute transaction on mutual funds with an average monthly transaction volume of 9 lakh.

Currently, BSE StAR MF platform levies between Rs 6-30 per transaction fees, depending on the volume of the transaction.

Until mid-Feb, BSE StAR MF has experienced an overall growth of over 565 percent and in terms of SIPs registered on BSE StAR MF has experienced a growth of over 800 percent in last 2 years. The BSE StAR MF exchange Infrastructure is predominately catering to retail category of mutual funds Industry i.e. 99.73 percent in terms of transactions and over 76 percent in terms of value of transactions.

BSE StAR MF now has more than 200,000 IFAs, brokers, broker branches and associates on its Network in over 3000 cities and towns across India. Almost all the top distributors of mutual funds are part of BSE StAR MF.moneycontrol

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