What is this change about and how does it affect my smallcase?
A recent change was introduced on Kite where stocks that are listed under ASM (Additional surveillance measures) or GSM (Graded Surveillance Measure) category will be restricted/blocked from being bought or sold on the exchange.
For such orders, you will need to set up a TOTP (time-based one-time password). This may affect your orders on smallcase, wherein, your order may not be filled.
What is TOTP? How do I set it up?
TOTP is a time-based one-time password. However, you do not receive this as a text message or on your email address. Instead it will be generated on your phone using any authenticator app like Google Authenticator. This password will be valid for a very short period of time, say 30 seconds. For more details on TOTP and how you can set it up with the app, click here.
Why was this new change introduced?
This change was introduced as an added layer of security to prevent scammers from placing illegal transactions in illiquid stocks via a user's compromised kite account. Scammers with access to your account can simply place orders for these stocks resulting in a loss for you and a profit on theirs.
In case of any doubts/queries, simply start a chat or drop us an email on firstname.lastname@example.org