BSE to kick off Mutual Funds trading on Dec 4
Mumbai, Dec 2: After National Stock Exchange (NSE), the Bombay Stock Exchange (BSE) is all set to launch its mutual funds trading platform on Friday, Dec 4.
Apart from a tie-up with the Tata Mutual Fund, BSE is reportedly in talks with four to five other leading fund houses for this venture.
"BSE is likely to start this platform on Friday and is talking to 4-5 funds to participate in the venture," a source close to the development told a news agency.
It is also learnt that the stock exchange selected NSDL (National Securities Depository) and CDSL (Central Depository Services) as the depositories for the new venture.
Tata Mutual Fund, Birla MF, Prudential ICICI MF, Reliance and Fidelity among others are expected to join the NSE platform soon.
This comes after the market regulator, Securities and Exchange Board of India (SEBI) gave its approval for facilitating transactions in MF schemes through the stock exchange infrastructure.