What is a contract note (ECN)?

What is a Contract Note (ECN)?

Contract Note is a confirmation of trades done on a particular day on behalf of the client by a trading member (stockbroker). It imposes a legally enforceable relationship between the client and the trading member with respect to purchase/sale and settlement of trades.

The Contract Note has provides details as prescribed by the exchanges:

  • Name of the Client
  • Address of the Client
  • PAN of the Client
  • Trading Client Code
  • Order Number
  • Trade Time
  • Trade Number
  • Name and Symbol of the security traded
  • Action Carried Out i.e. Buy or Sell
  • Quantity traded
  • Trade Price of the security
  • Closing rate per unit (Only for Derivatives)
  • Total Charges before Brokerage and Statutory levies

The contract note carries all the trading and transactional charges like brokerage, STT/CTT, GST etc. and the executed trade details on exchanges, i.e. NSE, BSE or MCX. Contract notes sent to clients over a registered email address.

    • Related Articles

    • Why did I not get the contract note?

      Contract notes are processed and sent to your registered email address within 24 hours after market closing. The Exchange/s share trade files and applicable charges of all the clients at the end of each trading day. Sometimes, these files are ...

    • Why do I receive a contract note whenever I trade/invest?

      Contract Note is a confirmation of trades done on a particular day on behalf of the client by a trading member (stockbroker). It imposes a legally enforceable relationship between the client and the trading member with respect to purchase/sale and ...

    • What product should be selected to carry forward the F&O contract till expiry?

      In order to place an overnight carry forward position in any F&O contract, you have to select the Product ‘Margin’ as shown in the image below: ​ Note: Any order of F&O contract placed in CNC will be rejected

    • What is a futures contract?

      A futures contract is an agreement between two parties to buy or sell an asset (Stocks, Indices, Currencies or Commodities) at a certain time in the future for a certain price. To make trading possible, the exchange specifies certain standardized ...

    • What happens when my contract expires?

      When the contract expires, all the outstanding positions in the derivative contract are closed and profit/losses are settled in cash. This is for cash-settled contracts. For physically settled contracts, FYERS policies on physical settlements will be ...