Short answer

iRage sent you this email because an alert was generated by the stock exchange system or regulator-specified internal surveillance system. As a financial intermediary, iRage is required by SEBI, stock exchanges and depositories to review client transactions, flag trades and seek clarification to establish the genuineness of trades.

Your trading account may be blocked if you do not provide the required clarification within 3 working days of receiving the email.

Surveillance requirements

SEBI, stock exchanges (PDF) and depositories (PDF) require stock brokers to have effective surveillance mechanisms in place. As part of this surveillance monitoring, brokers must:

Review client transactions

Flag trades that trigger alerts

Seek suitable clarification and rationale behind such trades to establish their genuineness

How alerts are generated

Stock exchanges flag certain transactions and require brokers to ask their clients for explanations. In addition to exchange-generated alerts, broker systems also generate alerts based on regulator-specified surveillance parameters. Brokers must update the stock exchange on the action taken against surveillance alerts.

What you need to do

Provide the required information by creating a ticket. When iRage receives your information, you will receive an acknowledgement email. If necessary, iRage will take appropriate action based on your response.