BSE reminds brokers to update clients' mobile numbers, email IDs

Move will help in checking unauthorised stock market trades through investor accounts

Leading bourse BSE today reminded brokers to update details pertaining to mobile number and email address of their respective clients in order to facilitate the exchange in sending trade alerts through SMS/email.

The move would help in checking unauthorised stock market trades through investor accounts.

The stock exchanges, in late 2012, had begun the facility of sending SMS/email alerts to every retail investor for all transactions in their names in a day.

"...Trading members are once again advised to upload the mobile number and email id of their clients in the UCC (Unique Client Code) database of the exchange, immediately in order to facilitate the exchange in sending trade alerts through SMS/email," BSE said in a circular today.

The market regulator Sebi had proposed such a facility to alert investors about trades being conducted in their accounts in August, 2011.

Sebi's proposal followed complaints against brokers and other market entities conducting transactions through accounts of their clients without the knowledge of the investor concerned.