The Bombay Stock Exchange (BSE), Asia's oldest bourse, launched its mutual fund trading platform on Friday, opening up more than 40,000 terminals in 400 cities.
The Securities and Exchange Board of India had last month permitted stock exchanges to offer their infrastructure for fund transactions, giving investors access to more than 200,000 terminals in over 1,500 Indian towns and cities.
More than 250 orders worth 84.4 million rupees were placed through the BSE fund transaction platform on Friday, Kalyan Bose, head of the exchange's corporate affairs, said. India's top 3 fund houses by assets, Reliance Capital Asset Management, HDFC Mutual Fund and ICICI Prudential Asset Management, were among those who made their funds available for transaction on first day, Bose said.
India's National Stock Exchange (NSE) started its own fund transaction platform on Monday.
The Securities and Exchange Board of India had last month permitted stock exchanges to offer their infrastructure for fund transactions, giving investors access to more than 200,000 terminals in over 1,500 Indian towns and cities.
More than 250 orders worth 84.4 million rupees were placed through the BSE fund transaction platform on Friday, Kalyan Bose, head of the exchange's corporate affairs, said. India's top 3 fund houses by assets, Reliance Capital Asset Management, HDFC Mutual Fund and ICICI Prudential Asset Management, were among those who made their funds available for transaction on first day, Bose said.
India's National Stock Exchange (NSE) started its own fund transaction platform on Monday.
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