"Mutual Fund Exchange refers to AxisDirect's offering of an exclusive channel for mutual fund transactions through BSE StAR MF system.
 BSE StAR MF is an online system provided by Bombay Stock Exchange (BSE) through which investors can invest in Mutual Funds. Orders placed by AxisDirect customers would be routed through BSE StAR MF platform to BSE's clearing corporation (Indian clearing Corporation Limited-ICCL). ICCL in turn would be responsible for sending these orders to the RTA and post successful processing of these orders, the units would be allotted in the customer's Demat account."