NSE Circular on: 2022 Issuance of Electronic Contract Notes (ECN) through SMS-electronic instant messaging services
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10-06-2022 |
NSE |
Issuance of Electronic Contract Notes (ECN) through SMS-electronic instant messaging services |
Contract Note |
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Highlights of NSE Circular dated June 10, 2022 Issuance of Electronic Contract Notes (ECN) through SMS-electronic instant messaging services Further to SEBI Circulars no. SEBI circular no. MRD/DoP/SE/Cir-20/2005 dated September 8, 2005, and CIR/MIRSD/16/2011 dated August 22, 2011 wherein guidelines for Issuance of Electronic Contract Note (ECN) were prescribed, NSE has now specified that, in addition to usual mode of delivery of ECNs to the clients through email, Trading members may additionally send ECN through SMS / electronic instant messaging services, provided certain safeguards as listed below, are ensured:
NSE has advised Trading Members to take the following measures in order to strengthen their process of handling Investors Grievances:
a) 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 fulfil the additional guidelines mentioned below and shall provide an option to clients for receiving ECNs through such additional modes of communication b) 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. c) The client shall communicate any change in the email-id / mobile number through a physical letter to the member. If the client has opted for internet-based trading (IBT), the request for change of email id / mobile number may be made through the secured access by way of client specific user id and password. d) ECN sent through SMS / electronic instant messaging services, shall be sent as an attachment and not as a link. The attached file may be secured with the digital signature, encrypted, non-tamperable and password protected. e) The messages sent through SMS / electronic instant messaging services not to be covered under the auto delete facility at the option of the members. f) 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. g) Other existing requirements for issuance of ECN, like publishing of ECN on the designated website of the member, access to the website to enable clients to access ECNs, maintenance of proof of delivery (ECN log), sending in physical mode in case of non-delivery (bounced mails), etc. as mentioned in SEBI Circular MRD/DoP/SE/Cir-20/2005 dated September 8, 2005 should continue to be applicable
NSE Circular no. NSE/INSP/52604 dated June 10, 2022 is enclosed herewith for your ready reference.
In case of any clarification or assistance required in implementation of this circular you may contact Vandana Vania– van...@secmark.in / 9223303460 Kaushik Jethwa – kau...@secmark.in / 9870210171 |
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