Mutual fund buying through online trading system

Have you started to buy Mutual funds from your brokers online trading system.well nse and bse had started it but still there is much need for involvement of the investors and their tastes.

here is nse issued circular for brokers


The Exchange vide Circular no: NSE/MFSS/003/2009 (Download No: NSE/CMTR/13533) dated November 24, 2009 provided operational guideline on Mutual Fund Service System (MFSS). As intimated in the above circular the new MFSS shall commence from November 30, 2009.

The list of various schemes of UTI Asset Management Company Ltd. (UTI AMC) which are permitted on the MFSS are provided in Annexure 7.


The following operational instructions are annexed herewith:
Annexure – 1: Final operating guidelines
Annexure – 2: Participant Undertaking & Comprehensive scheme
Annexure – 3: Letter to be provided by the investor / client to the Participant &
Terms & conditions for the Investors / Clients
Annexure – 4: Important points for Participant and Clients
Annexure – 5: Installation procedure for NEAT MFSS (Version 1.00.00)
Annexure – 6: NEAT MFSS Features
Annexure - 7: List of Eligible Schemes for MFSS
Annexure - 8: List of RTA / AMC offices for UTI AMC scheme


Members are requested to note that for live MFSS member has to take new NEAT MFSS (version 1.0.0) from NSE extranet (Directory: /common/mfsstemp) or internet ftp://203.199.75.110 after 2030 hrs dated November 27, 2009.


For National Stock Exchange of India Ltd

and this is bse circular

Notice no : 20091202-3
Notice date : Wednesday, December 02, 2009
Subject : Launch of BSE StAR MF Platform
Category : Trading
Segment Name Mutual Fund




Contents :

As you are aware, the Securities Exchange Board of India (SEBI) vide Notice SEBI/IMD/CIR No. 11/ 183204/2009 dated November 13, 2009 has issued guidelines for facilitating transactions in Mutual Fund schemes through the Stock Exchange infrastructure.



Understanding the need for extending the present convenience available to secondary market investors, to the mutual fund investors, the Exchange proposes to launch the Bombay Stock Exchange Platform for Allotment and Redemption of Mutual Fund units (BSE StAR MF). In order to participate in the BSE StAR MF, trading members will be required to comply with the documentation requirements as specified in this Notice.



All trading members of the Exchange who are registered with the Association of Mutual Funds of India (AMFI) as Mutual Fund Advisors and who have entered into agreements with the specific Asset Management Company (AMC) of a Mutual Fund are eligible to participate in the BSE StAR MF. For this purpose, trading members shall have to register with the Exchange as Mutual Fund Intermediaries (MFIs) by submitting an Undertaking as per the format specified in Annexure 2.



MFIs shall abide by the operating instructions and stipulations laid down in this Notice and the Notices issued from time to time with regard to BSE StAR MF by the Exchange. They would also be required to satisfy such other requirements as prescribed by SEBI, Association of Mutual Funds of India (AMFI) or any other regulatory authority for market intermediaries in the Mutual Fund industry.



Further, the MFIs shall ensure that the investors desirous of participating in the BSE StAR MF register with the MFI as a client by submitting a letter as per the format specified in Annexure 3 to this Notice. All clients of the MFI shall undertake to abide by the operating instructions and stipulations laid down in this Notice and other notices issued from time to time by the Exchange relating to the BSE StAR MF platform.



Separate guidelines for settlement procedures, etc. is being issued shortly.



The BSE StAR MF platform shall commence operations from Friday, December 4, 2009.



List of Annexures enclosed with the Notice is given below:-



Annexure no.


Particulars

1


Operating Instructions for BSE StAR MF

2


Format of Letter & Undertaking to be given by MFI for availing the BSE StAR MF and Detailed Guidelines relating to the BSE StAR MF platform

3


Letter to be provided by the investor to the MFI for registering as a client for BSE StAR MF and detailed terms & conditions for the Clients

4


Procedure for taking registeration as MFI for the BSE StAR MF platform

5


SEBI Notice SEBI/IMD/CIR No. 11/ 183204/2009 dated November 13, 2009

6


Suggested formats for Order Confirmation Note and Transaction Confirmation Note



In case of any clarifications, members may please contact their respective Relationship Managers or the following officials:





see formal versions here

bseindia
http://www.nseindia.com/content/circulars/cmtr13564.doc