National Stock Exchange (NSE) today said it will conduct five mock trading sessions for migration from existing web-based MFSS system to a new mutual fund platform.
National Stock Exchange (NSE) today said it will conduct five mock trading sessions for migration from existing web-based MFSS system to a new mutual fund platform. The mock session starts on July 16 ending on July 20 and the timing would be from 10:30 to 16:00 hrs, NSE said in a circular.
“….Web Based MFSS platform shall migrate to New Mutual Fund (NMF-II) platform and thereafter Only NMF – II platform shall be available for transactions in MFSS,” NSE said. The go-live date for migration from MFSS to NMF – II Platform shall be intimated separately, added NSE.
MFSS platform is for facilitating mutual fund transactions by its members while New Mutual Fund (NMF II) is a platform for facilitating transactions in mutual fund by distributors. NMF II is an online platform which facilitates subscription, redemption, Systematic Investment Plan (SIP), Systematic Withdrawal Plan (SWP), Systematic Transfer Plan (STP), Switch and other transactions of mutual fund units.
This is in line with the announcement made by NSE when it had said that at present, MFSS and NMF II are different platforms. At a later stage, once all the key features of MFSS are made available in NMF II, the MFSS platform may get merged into the new NMF II.