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TELEPHONIC TRADING BROCHURE (Effective September 2007)
To make use of trading or changing ownership of electronic certificates, ESC has introduced the ability to use the telephone rather than only the internet.
From when has telephonic trading been available?
“Teletrade” has been functional from 01 February 2007, through a dedicated call centre where a person took your instructions across the phone (“initiate a transaction”) and then used a sms function to your registered cell phone to which you replied to “authorise” the transaction.
What “Teletrade” changes happened in September 2007?
Due to some of the users not being able to send or receive sms’s, the “Teletrade” functionality was changed for the user not having to send a sms for authorisation. The ESC operator will ask the caller a random selection of the pin number which will serve as the authorisation phase.
What are the benefits of telephonic trading?
Participants without internet facilities can trade electronically; all calls are voice recorded and only your pin number can authorise the transaction, which offers a reduced risk of fraud; the transactions are immediate without the time based delays of paper, thus eliminating couriers and courier costs. Improved deliveries onto Safex and owners are able to trade telephonically from anywhere.
How do I register for telephonic trading?
To register for this facility the user must firstly be registered with ESC (download from the website or call our call centre). A separate “Teletrade application form” needs to be completed, assigning a dedicated “Key Contact” person for the telephonic request process (applicable to corporate and individual accounts).
What type of transactions can be done telephonically?
Putting a certificate on offer to transfer ownership to another party, acceptance of certificate ownership being put on offer, encumbrances for loan security, acceptance of an encumbrance, transfers to Safex, splits and physical delivery requests.
I am now registered for telephonic trading, how do I trade with my certificate?
The user needs to phone the “Teletrade” contact centre on (011) 797 5591. The ESC consultant will ask a series of questions to the caller for verification and security purposes. The caller communicates his trading request to the ESC consultant, which will act as an initiator to capture the request online. The callers pin number will serve as the authorisation phase.
What happens after I have made my telephonic request?
The “Teletrade” operator then processes the transaction online.
What if I don’t have my pin number with me or give the wrong pin number?
The transaction will not take place. The Teletrade user will thus have to contact the ESC call centre again with the correct information and the same transaction instructions.
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National - Instant - Secure
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