Why was Coin cut-off timing changed to 1pm today?

[abhiwin123]

Trust me mate. I am also trying to help you to look beyond the hours and days and years you have spent on this. You are all over the place with assumptions and non-implicit conclusions. I am also making a last attempt to help you see this through -

@rupeshmandal

It reads - application received up to 3 pm for same-day NAV. But the thing is Zerodha doesn’t pass on the application to BSE Star on the same day if you submit after 1:30 pm. While as per SEBI they should accept orders till 3 pm. This is the issue.

As already clear from the link - https://www.sebi.gov.in/sebi_data/commondocs/imdcir1106_h.html, this is for mutual funds. Zerodha is not a Mutual Fund and hence not bound by these rules. Hence, it is factually incorrect to assume SEBI rules applicable on Mutual Funds are also applicable on brokers.

@rupeshmandal

Zerodha is not the only culprit here. If Zerodha is restricting us to place orders after 1:30 pm, BSE Star is also forcing Zerodha, Kuvera etc. to pass on the buy orders by 2:30 pm for same-day NAV. I have mentioned this in this thread. Why was Coin cut-off timing changed to 1pm today?

Moot point. You are still talking about brokers / MF order aggregating platforms. If many are doing something wrong doesn’t make one right. But if there is something illegal, please specify which applicable SEBI rule is broken.

@rupeshmandal

My point is simple, I can understand there could be underlying technical challenges but it can’t be bypassed at the stake of investors’ rights to be able to place an order by 3 pm.

No investor right is violated. Broker in this case is kind of a service provider / order aggregator. An investor can ofcourse go directly to MF website and buy till 2:59PM. You can judge them based on facilities they provide and choose your service provider. But to use foul language along with words like FIR, illegal, courts is totally uncalled for.

@rupeshmandal

Between BSE Star and AMC, there could be some sort of understanding that orders be received by 3 pm regardless of the platform, without any discrimination and between 3-3:30 there could be a settlement between BSE Star and AMC for NAV realization. Something like that. I am sharing this with my limited knowledge. But at least I am making an attempt to give investors’ rights a priority.

You are “attempting to give investor’s rights a priority?” Can you please explain what does it even mean? It is not a race with BID/ASK as if you are buying a stock on best price. All orders will get the same NAV. If you wish to use the slot between 1:30 PM and 3:00 PM and want the same day NAV, you may go to the MF directly on website for that facility might not be available currently with your broker. Discrimination is if BSE star accepts one MF orders till 3 PM and another till 5 PM for same NAV. That is not the case as strictly articulated by SEBI.

@rupeshmandal

At last but not least, being a mutual fund investor shouldn’t you be supporting me that at least someone is fighting for this cause. You will also benefit from it once things are streamlined. No?

I would love to bro … but only when I find merit in your argument. The way I see it … nothing is stopping you from having the NAV you want within SEBI guidelines by going directly to the MF website. If you wish to use a broker / demat based product … its your call. And every product comes with its baggage of pros and cons.

So give yourself some discount. You are not fighting for a do-or-die cause … but just a feature in the product you have already chosen.

Take care.