Hi there
I have a query on Contract Notes.
I receive one as per the T+2 settlement system. Say I buy shares today, I get a Contract note confirming Delivery the day after the next.
Now, a couple of terms in there: Trade Date, & Settlement Date
I understand the Trade Date to be the day on which the trade was done by me with the broker and then executed on my behalf by my broker with the exchange.
However, what does the Settlement date imply?
Does it refer to the exact date when the Delivery was given to me (or my Demat account for that matter) by the exchange (BSE/ NSE)?
I have an outstanding issue with my broker and it is directly related to my query herein. Knowledgeable members are kindly requested to direct their helpful inputs ASAP.
I have a query on Contract Notes.
I receive one as per the T+2 settlement system. Say I buy shares today, I get a Contract note confirming Delivery the day after the next.
Now, a couple of terms in there: Trade Date, & Settlement Date
I understand the Trade Date to be the day on which the trade was done by me with the broker and then executed on my behalf by my broker with the exchange.
However, what does the Settlement date imply?
Does it refer to the exact date when the Delivery was given to me (or my Demat account for that matter) by the exchange (BSE/ NSE)?
I have an outstanding issue with my broker and it is directly related to my query herein. Knowledgeable members are kindly requested to direct their helpful inputs ASAP.