Live Market On Handset

In a significant move that will have a major bearing on commodity trading in the country, the exchange launched SMS query services on 29th March 2004 to provide live updates on the movements of the commodities futures traded on the Exchange to its Members & their traders, thus enabling them to keep a tab on Futures prices even while they are traveling or out of office.

Introduction of SMS query service is yet another step taken by NMCE to facilitate various market participants to have ready information on the movement of commodity prices on a real time basis. In addition to enabling the clients to participate more effectively, this service would also help in widening the scope of information dissemination across the country. This would eliminate the availability of information only at the terminals of Members & traders and would make it available even to the clients & various other market participants.

The service presently available in English and Hindi, has a number of features – users can send SMS querying for a particular product or series to the following mobile number – 9427419052.

1) For querying the Futures prices for all series of a particular commodity: The user can either key in the code for the commodity or the name of the commodity in English or Hindi. For example, for knowing the Futures prices for all series of Pepper, the user has to send SMS to the above mobile number by typing the word “PEP” or “PEPPER” or “Kali Mirch”. In reply, the system would automatically send the Last traded price for all series of Pepper, with an abbreviated comment on the kind of movement against each series. Same is the case with other commodities such as “Gold/Sona” or “Silver/Chandi.” etc.

List of Abbreviated comments :

2) For more specific information, a user could access the Last trade, Open, High, Low & close price for Pepper-August 2005, by simply keying in “PEPAUG2005” or “PEPAUG” as SMS and sending to the above mobile number.

3) There is also a facility that allows the user to type the complete name of a commodity (PEPPER in this example), in case he does not know the code for a particular product. The result for all series of the commodity would still be available to him.

4) The service also provides for an automatic search of the nearest phonetic match in case the user has made a spelling error while keying in, through a mechanism called Odell/Russel algorithm that has been built into the system. For example, if the user types – Peper or  Papper instead of “Pepper”, then also the system shall identify it as pepper only and reply accordingly.

“Price Alert System” through SMS

National Multi-Commodity Exchange of India Limited (NMCEIL) is delighted to introduce a “Price Alert System” through Short Message Services (SMS).  The above service is yet another extension to the SMS services introduced & offered by NMCE since March 2004. In view of popularity, success & high response from market to the SMS services introduced by NMCE and based on market feedback, NMCE now brings yet another value added service for various market participants, traders and clients to keep them updated automatically on various price fluctuations in various commodities. This would enable the market participants and clients to do proper risk management by ensuring that they do not miss any unexpected price fluctuation resulting in excessive loss or profit. It would help them to take a prompt position on NMCE terminal to cover their risk.

Numerable market participants all over India are presently enjoying the useful facility of getting market rates on mobile phone through sending a SMS. Now the registered clients would be able to set customized alerts, which would be valid till the expiry of the particular, contract or till the cancellation by the user himself, whichever is earlier. The clients would be able to get the market rates on their mobiles automatically at regular changes without sending the query to the SMS services. The alert message would include the Previous Close price, Day’s High & Low prices, Last Trade Price and the trend/difference in comparison to Previous Close Price.

The clients keen to avail the above facility may register on the basis of certain parameters like - 
1) Series Name for which the alerts are required. (E.g. PEPOCT2005)
2) Difference in price when the alerts would be triggered (E.g. Rs.10/-  or  5%)
3) Whether the difference should be in terms of amount or in percentage.

In order to receive alerts the client need to register the alert once, by sending a message on 9825803424; the query message syntax would be as follows :

Alert <SeriesName> <Difference> <Amount or Percentage>.

Example:

1) Alert PEPOCT2005 10 A

This would trigger the first alert message to the mobile when the Last Trade price is high or low by Rs. 10 from Last Close price. The subsequent alerts would be sent whenever the difference between the last price sent via alert and the Last trade Price is high or low by Rs. 10.

2) Alert PEPOCT2005 5 P

This would trigger the first alert message to your mobile when the Last Trade price is 5% higher or lower than the Last Close price. The subsequent alerts would be sent whenever the difference between the last price sent via alert and the Last trade Price is 5% higher or lower.

For discontinuing the alert services for a particular series, the user has to send the following as SMS

ALERT <SeriesName> OFF

Example: ALERT PEPOCT2005 OFF

This would turn off all the alerts set for the particular series i.e. PEPOCT2005 in above case.

The users desirous of availing the Alert services may contact on below Nos. for registration details.

Phone Nos. :- 91-079-26583313 / 14
 

Disclaimer : NMCE would not be responsible for any losses incurred by the users due to delay or non-transmission of message (Price updates) for the fault of either mobile service provider or NMCE.

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