Modupe Gbadeyanka
By Modupe Gbadeyanka
The management of NASD has launched its proprietary trading platform (BITs) to provide authorised traders perform trades more conveniently on behalf of their brokerage clients.
The system was launched on Monday, April 9, 2018 and to further enhance service delivery and client satisfaction, NASD conducts regular modifications to improve the system, to promote transparency and market integrity.
To make the initiative work better, the NASD OTC Market has created a Trade Alert Notifications Service into the BITS system.
This service will notify all Investors on the OTC platform with timely and accurate information on an deals consummated on their brokerage account(s).
Investors with portfolios trading under the NASD OTC Market would receive daily SMS notifications at the close of trade.
According to a statement issued by NASD, Trade Alerts will only be sent to an investor’s registered mobile number with the Central Securities Clearing System (CSCS) Plc as from Friday, June 1, 2018.
The statement said each trade alert will contain Investor Name, Investor Account Number, Trade Date, Stockbroking House Firm Code, Security Traded, Units Traded, Price Traded and General Market Closing Price of the Security.
According to NASD, “We believe that with this service, investors will get adequate first-hand information from the exchange on all transactions on their account, which can be confirmed by their chosen participating institution.”
