The NSE/CSCS introduced an investor Protection scheme known as the Trade Alert which involves the installation of a software to rear-end of the mainframe of the computer system of the CSCS, such that whenever there is a transaction on the account of a subscriber at the CSCS, an SMS massage is triggered into the GSM handset of the investor, detailing sales or purchases made and specifying volume and price.
In the event that the investor did not authorize the transaction, he can summarily abort the process by placing a call to CSCS/NSE.
What is this all about?
Through your GSM phone, you will receive an SMS on your mobile phone once shares are traded on your stock account(s). You will abort the transaction if you did not authorize it by phoning the CSCS call center.
This protects all subscribers of the product against unauthorized stock activities on their stock account in CSCS database. Subscribers are regularly updated of all capital market related activities.
Benefits to the investor
- Stops unauthorized trades before they are concluded.
- Knowledge of in and out bound transactions on your account.
- Reduces chances of fraud on your account.
- Effective control of transactions.
- Improves confidence
What are the values added?
- Management of your stock portfolios in CSCS database becomes automated and seamlessly controlled.
- The burden of managing your account is taken off you.
- All stock transaction activities on your account are relayed to you.
- Invariably, no more fraudulent activities on all registered stock account in CSCS database.
- Closure of registrar date, bonus, right issues and dividends declamation are relayed to all subscribers.
Collect or download the Trade Alert form, complete and submit the form at the nearest NSE/CSCS office or log on to www.nse-cscstradealert.com and fill the form on-line. Forms are also available at your stockbrokers' offices.