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Association of Mutual Funds in India (AMFI)

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AMFI requests SEBI to make MF Utilities a market infrastructure institution

AMFI has approached SEBI requesting to make MF Utilities a market infrastructure institution for the mutual fund industry, said three people familiar with the development. If SEBI recognises MF Utilities as the market infrastructure institution, all the transactions in mutual funds will go through a single gateway i.e. MF Utilities. The platform has to provide guaranteed clearing and settlement functions for transactions in mutual funds. This will lead to significant improvement in the transaction efficiency, transparency, liquidity and risk management practices in mutual funds along with added benefits like reduced settlement and operational risk and savings on settlement costs, says a CEO of a private fund house.

Source: Wise Money dated 2 - 5 October 2017

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