FAQ on Revision in Contract Note Format

No, as OFS and OTB are bidding process. However, members may use new format for providing Exchange wise contract note.

Exchange transaction charges shall be provided on combined basis in revised contract note format.

There will be no change in the existing reporting mechanism of bulk or block deal and Exchange wise reporting shall be maintained. A combined contract note having single WAP across Exchanges shall be issued for trades executed under block or bulk deal to the clients.

The member shall ensure that details of trades such as Contract number, security/contract detail, Exchange, Order No., Order time, Trade No., Trade Time, Traded quantity, price etc is attached to the contract note as an Annexure.

It is Mandatory to issue all contract notes including electronic contract note (ECN) with single WAP for trades done across Exchanges per security/common contract. 

VWAP = Total buy/sell trade value for ISIN across Exchanges / Total number of securities bought/sold across Exchanges.

It will be the choice / arrangement between client/member on providing average trade price upto 2 or 4 decimal places.

Fields of exchange identification shall be removed and changed. The revised format of ECN shall incorporate the WAP calculation across Exchanges per security/common contract note. Further, revised STP formats will be published by Exchanges.

• Broker back office to send trade execution via OMGEO / CTM to FPI for combined trade qty and VWAP across exchanges.

• FPI back office to provide single trade instruction across exchanges to Global Custodian (GC)

• Broker to send single Contract Note / ECN with VWAP across exchanges to Local Custodian (LC)

There is no change. Settlement number will prevail akin to existing.