| Our Regional Bureau / Ahmedabad July 02, 2005
National Multi Commodity Exchange of India Ltd (NMCE) has introduced a price alert system. It will automatically update the users on price fluctuations of various commodities through sms.
Earlier users were provided prices at which commodities were trading, on sending a query.
Neeraj Gupta, vice president, IT, NMCE said "We expect at least 50 to 60 per cent of our users to switch to the new system," he said.
Under the new system, users will have to get registered with the exchange by filing up a form available on the exchange's website. NMCE will charge about Rs 1000 per month for subscribing to the new feature.
"Clients can fix the price variation either in rupees or in percentage for any commodity and send the sms once, and every time there is a variation in the level that they have sought, the subscribers will be alerted by sms," Gupta said.
Explaining on how the system will work, the official said that the query message syntax would be in the form of `alert' followed by the series name and the difference in amount or percentage.
"For example, if one requires to be alerted if there is a ten rupees fluctuation in the price of pepper, the subscriber will be required to send a message as `AlertPEPOCT2005 10 A' to 9825803424," said Gupta.
He added that this service will be available for all GSM and CDMA subscribers across the country. |