Mutual Fund Units are allocated directly to the Investor’s account. Online orders placed by clients are collected and validated for AMC rules and for availability of funds. Valid orders are sent to the Registrar through a file.
The Registrar, in turn, communicates the success or failure of these orders also through a file. Files from the Registrar are processed by GO TX to update the status of investors’ orders and their holdings
Having collected payment from the clients for Mutual Fund purchases, the Broker has to then remit this amount to the Registrar. To facilitate payment, the system aggregates the purchases made for various schemes and arrives at the amount owed by the Broker to each Registrar.
If the Broker opts for the traditional method of transacting in Mutual Funds using manual application forms, this information can also be maintained in GO TX.
Submission of the application form and payment is done outside the system, however the result of the transaction will be sent to the Broker through a file from the Registrar. This may be maintained with the investor information in the system.
Orders placed may be entered into the system by a Supervisor. For Offline purchases through Cheque/DD, the orders status is maintained based on the application number, for the success after the successful processing of the Transaction file (Reverse feed).
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