NSE to begin overnight investment facility from MondayMumbai: Country's top stock exchange NSE will introduce an overnight liquid transaction facility on its web-based Mutual Fund platform, from tomorrow.The facility will enable traders, especially small investors, to invest even for a single night
Mumbai: Country's top stock exchange NSE will introduce an overnight liquid transaction facility on its web-based Mutual Fund platform, from tomorrow.
The facility will enable traders, especially small investors, to invest even for a single night in liquid funds.
A similar product was introduced last month by BSE. The exchange has seen daily transactions worth Rs 400-500 crore in the product so far.
"Exchange is now introducing an order entry functionality which shall allow the participants to place purchase and redemption orders simultaneously in liquid schemes," the National Stock Exchange (NSE) said in a circular.
"This facility will only be available on Mutual Fund Service System ( MFSS) web-based platform and in physical mode only," it added.
Participants shall be allowed to enter overnight orders in liquid scheme between 9:00 am to 1:00 pm, the bourse said.
The exchange would provide a separate window to place overnight orders on the web-based platform.
Under the new facility, all liquid schemes allowed by respective asset management companies ( AMC) would be available for placing orders, the exchange said.
"Participants shall enter the subscription and redemption order simultaneously in overnight liquid order entry window," NSE added.
Mutual Fund Service System (MFSS) is an online order collection system provided by NSE to its eligible members for placing subscription or redemption orders.