NSE extends deadline for providing client details to Oct 10

Leading bourse NSE has asked its trading members to provide mobile numbers and e-mail addresses of their clients by October 10 to facilitate dissemination of instant trade alerts.
This is the second extension given by the National Stock Exchange (NSE).
"The last date for uploading of client funding file for the month of September 2014 is extended to October 10, 2014," NSE said in a circular.
Earlier, 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.

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 e-mail address and mobile numbers are updated by the trading members in UCI online.

In 2012, Sebi had asked exchanges to send SMS/e-mail 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.