AMFI GETS SEBI CLEARANCE FOR TRADING PLATFORM
Capital markets regulator the Securities and Exchange Board of India (SEBI) has cleared the
proposal for the launch of AMFI's mutual fund transaction routing platform. The platform will
provide investors with a Common Account Number (CAN) so that investors can invest across
schemes and fund houses using this number. The MFs utility platform will also have a single
cheque payment system and common account statement for all the schemes that investors have
invested in across fund houses. At present, investors need to have to give separate cheques
for making investments in each scheme. The platform, called MF utility is expected to go online
in the first half of 2013.
proposal for the launch of AMFI's mutual fund transaction routing platform. The platform will
provide investors with a Common Account Number (CAN) so that investors can invest across
schemes and fund houses using this number. The MFs utility platform will also have a single
cheque payment system and common account statement for all the schemes that investors have
invested in across fund houses. At present, investors need to have to give separate cheques
for making investments in each scheme. The platform, called MF utility is expected to go online
in the first half of 2013.
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