The Multi Commodity Exchange of India (MCX) has stated that it has introduced a system which will allow only those clients who have updated their mobile numbers in Unique Client Code database to place orders into the MCX’s trading system.
It would effective from April 6, 2013.
As per the statement issued by MCX, trade alert confirmations would be sent to all end clients daily via SMS on their cell phone numbers.
The statement further noted that the trade alert confirmations are also sent to E - mail IDs of the clients that are uploaded by the members in UCC database of MCX.
These trade alert confirmations via SMS and email will allow the clients to verify trades with the contract note they get from their brokers.
The move will further alert the clients the next day regarding the trades taking place in their respective accounts.
The release further noted that the MCX Exchange has taken required software change in this regard.
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