The Securities and Exchange Board of India has made mandatory a Common Contract Note (CCN) with a single Volume Weighted Average Price (VWAP) for trades executed across multiple exchanges, effective from 27 June 2025. The previous approach required separate trade confirmations for each exchange, creating more complex reconciliation, settlement and regulatory compliance. The new mechanism consolidates multi-venue trades into a single harmonised contract note with a uniform VWAP, designed with stakeholders to standardise post-trade communication, improve cost efficiency, reduce compliance burden and support consistent trade reporting aligned with the CC interoperability framework.
Securities & Exchange Board of India 2025-07-02
Securities and Exchange Board of India mandates a Common Contract Note with a single VWAP for multi-exchange trades from 27 June 2025
The Securities and Exchange Board of India has mandated a Common Contract Note with a single Volume Weighted Average Price for trades across multiple exchanges, effective 27 June 2025. This replaces the previous system of separate trade confirmations per exchange, aiming to streamline post-trade communication, enhance cost efficiency, and reduce compliance burdens.