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.
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 ...