Multi Commodity Exchange of India (MCX) has implemented a system whereby only those clients, who have updated their mobile numbers in Unique Client Code database, can place orders in the exchange’s trading system.
This will be with effect from April 6.
Trade alert confirmations will be sent to all end-clients on a daily basis through SMS on their mobile numbers.
Additionally, trade alert confirmations are also sent to e-mail IDs of the clients that are uploaded by the members in UCC database, a statement issued here said.
Such trade alert confirmations through SMS and e-mail will enable clients to verify their trades with the contract note they receive from their brokers.
This will also alert clients the next day about trades taking place in their respective accounts. The exchange has carried out the necessary software change in this regard, it said.