In a move to check unauthorised stock market trades through investor accounts, leading bourse Bombay Stock Exchange (BSE) on Thursday said it will commence the service of sending SMS to all investors from tomorrow.
“In order to check unauthorised stock market trades through investor accounts, according to the Securities and Exchange Board (Sebi) circular, BSE will commence the service of sending SMS to all investors with effect from October 12, according to the details of the investor available in the UCC (Unique Client Code) database,” BSE said. Investors will have the facility to inform BSE where the details received through SMS do not pertain to them, it said.
BSE had earlier issued a circular in this regard to its trading members to upload mobile numbers and email IDs of their clients in UCC database of the exchange, to facilitate dissemination of such trade alerts. The National Stock Exchange (NSE) would start sending transaction details to mobile phones and email accounts of all retail investors with effect from October 15.
