Common Contract Note

The Securities and Exchange Board of India (SEBI) has deferred the rollout of the Common Contract Note (CCN) for Foreign Portfolio Investors (FPIs) to 1 July 2025.

The implementation was earlier scheduled for 30 April 2025. The reform aims to streamline reporting and trade documentation across stock exchanges.

Aspect	Details
Contract Note	A contract note is a legal document issued by brokers to investors summarising all trades executed during a trading day.
Information Included	It contains details such as security name, quantity, trade price, time of trade, brokerage charges, and applicable taxes.
Importance	The contract note serves as official proof of trade execution and is important for record-keeping and tax purposes.
Existing System	Currently, investors executing trades across both NSE and BSE receive separate contract notes from each exchange.
VWAP Difference	Separate exchange-wise contract notes show their own Volume Weighted Average Price (VWAP) for the same order.
Common Contract Note	The proposed Common Contract Note (CCN) seeks to simplify and consolidate trade reporting for Foreign Portfolio Investors.

PT Facts

SEBI: Statutory regulator of India’s securities market established in 1992.
FPIs: Overseas investors registered with SEBI to invest in Indian financial markets.
NSE: National Stock Exchange of India.
BSE: Bombay Stock Exchange, one of India’s oldest stock exchanges.
VWAP: Volume Weighted Average Price reflects the average traded price weighted by volume.
Trade Proof: Contract notes are essential legal records for investors and taxation.

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