National Stock Exchange (NSE) on 22 June 2015 operationalised the Overnight Liquid Transaction facility on its web-based Mutual Fund Service System (MFSS) platform. The platform was launched on 19 June 2015.
The facility allows the participants to place purchase and redemption orders simultaneously in liquid schemes. This facility will only be available on MFSS Web based platform and in Physical mode only.
Further, all liquid schemes allowed by respective asset management companies will be available for placing orders.
MFSS is an online order collection system provided by the NSE to its eligible members for placing subscription or redemption orders.
Earlier in May 2015, a similar product was introduced by Bombay Stock Exchange (BSE) which has so far seen daily transactions of worth 400-500 crore rupees.
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What: Started functioning
When: 22 June 2015