The Bombay Stock Exchange on June 07, 2022, issued a notice with reference to the SEBI circular dated September 8, 2005, wherein guidelines for Issuance of Electronic Contract Note (ECN) have been prescribed.
Certain safeguards as listed below, need to be ensured:
The digitally signed ECNs may be sent only to those clients who have opted to receive the contract notes in an electronic form. Members may add any SMS / electronic instant messaging services as an additional mode of delivery of ECNs based on their readiness to fulfilling the further guidelines.
Members shall send ECN through SMS / electronic instant messaging services only to the applications linked to the registered mobile number/ email id of clients as uploaded by members on the Exchange portal/database.
The client shall communicate to the stockbroker any change in the email-id / mobile number through a physical letter
ECN sent through SMS / electronic instant messaging services, shall be sent as an attachment and not as a link.
The messages sent through SMS / electronic instant messaging services are not to be covered under the auto delete facility at the option of the members.
The members shall ensure that all ECNs are sent from the same ID and appropriate logs (sent/delivered/seen/not delivered/blocked etc.) are maintained by the members regarding the same.
Other existing requirements for issuance of ECN as mentioned in the SEBI Circular dated Sep 8, 2005, should continue to be applicable.
[Notice No. 20220607-11]
