SMS trade alerts to deter market manipulation

Business

The Colombo Stock Exchange’s (CSE) customised daily trade alert to investors at the end of each trade day notifying them of all transactions that are carried out through their securities accounts in the CDS is serving to stop market manipulation and excessive margin trading.

"Now stockbrokers cannot over extend credit and buy shares on behalf of their clients without the clients' knowledge," a CSE official told the Business Times.

The alert system was introduced by the CSE in a bid to encourage investors to track and monitor their CDS accounts. This service is provided free of charge to the investor and will help an investor to identify any issues or discrepancies concerning any transaction and enable investors to immediately bring it to the notice of their stock broker firms and resolve such matters. (DEC)

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