Mumbai, June 21:
The National Stock Exchange (NSE) will from Monday launch an overnight liquid transaction facility on its web-based Mutual Fund platform.
Participants will be allowed to enter overnight orders in the liquid scheme between 9 a.m. to 1 p.m., the NSE said here in a circular.
A similar facility enabling traders to invest even for a single night in liquid funds, was introduced last month by the Bombay Stock Exchange (BSE).
“Exchange is now introducing an order entry functionality which shall allow the participants to place purchase and redemption orders simultaneously in liquid schemes,” the NSE said.
“This facility will only be available on Mutual Fund Service System (MFSS) web-based platform and in physical mode only,” it added.
MFSS is an online order collection system provided by NSE to its eligible members for placing subscription or redemption orders.
The stock exchange will 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, NSE said.
“Participants shall enter the subscription and redemption order simultaneously in overnight liquid order entry window,” it added. (IANS)