Leveraging advanced technology, trading is now happening on an online platform. Within 24 hours of trade execution, the broker requires sending the trader a contract note summarizing the trader's transactions on the given day. Contract note includes the order number, quantity, trade type, price, and brokerage.
Before digitization, contract notes used to be given to the trader by the stockbroker in the form of paper. With digitalization trading, the contract note is sent to the registered email id of the trader, and it is called an ECN — electronic contract note which is in PDF form and signed digitally.
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