NSE extends deadline for clients' email ID, mobile numbers

Providing more time, leading bourse NSE today asked its trading members to provide mobile number and e-mail address of their clients by September 30 to facilitate dissemination of instant trade alerts.
"In order to facilitate members to meet the requirements stated above, the timeline for obtaining and uploading the mobile numbers/e-mail IDs for clients, who have transacted during the FY 2014-15 has been extended till September 30, 2014," NSE said in a circular.
Earlier the NSE had kept this deadline at August 19.
In case of investors who do not have mobile number or e mail address, the broker is required to obtain a declaration from them and report the same in the Unique Client Code (USC) online.

A similar directive was expected from another bourse BSE as well.
When reporting such cases, the member is required to enter 'notprovided@notprovided.Com' in the email address field and '6666666666' in the mobile number field.

"Members are advised to retain verifiable records of seeking details of e mail Id and mobile number from such clients," NSE said.
For newly registered clients and those existing ones who have not traded in the current fiscal, the trading member should collect e mail address and mobile number or declaration before executing any fresh transaction.
With an aim to reduce the number of investor complaints relating to unauthorised trading and to safeguard members' own interest, stock exchanges provide details of the transactions to all investors through mails and SMSes whose email address and mobile numbers are updated by the trading members in UCI online.

In 2012, Sebi had asked exchanges to send SMS/email alerts to every retail investor for all transactions in their names in a day.
The move followed complaints against brokers and other market entities conducting transactions through accounts of their clients without the knowledge of the investor concerned.
The market regulator had first proposed such a facility to alert investors about trades being conducted in their accounts in August 2011.