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| Discuss Electronic contract notes at the Brokers & Trading Platforms within the Traderji.com - Discussion forum for Stocks Commodities & Forex; A question here for everybody. How many of us have registered for ECN only and ... |
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| View Poll Results: Which format of contract notes do you prefer. ECN or print format | |||
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19 | 95.00% |
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1 | 5.00% |
| Voters: 20. You may not vote on this poll | |||
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#1
22nd January 2009, 01:14 PM
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Electronic contract notes
A question here for everybody. How many of us have registered for ECN only and do not receive a hard copy/print of the contract note. What are the advantages/disadvantages of either. Which format would you suggest and why ? 
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vasa1 (22nd January 2009) | ||
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#2
22nd January 2009, 02:15 PM
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Re: Electronic contract notes
if u r fully computer literate then no prob , go online and check yr trades...but
someone other then u in yr family or anyone else wanna see or check the transaction or wtsoever reason hard copy r very handy....
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#3
22nd January 2009, 03:31 PM
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Re: Electronic contract notes
Electronic ones are easy to handle , and they dont bulk up. Also earlier it used to happen that when I have to dispose off any paper contract note then i would have to tear it good, (just that my raddi wallah doesnt come to know abt all details of my trades,PAN number, trading account id and all... little over the top, but just like that :-)
Also it easy to copy and save my ECN's I can devide them according to long term and short term trades... simply rename ..
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#4
22nd January 2009, 08:27 PM
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Re: Electronic contract notes
I opted for ECN. My broker is Geojit. They charge more for printed CNs.
I get it as an .html file which is zipped. So one back-up is with mail.yahoo.com and the other on my PC and a third with Geojit. Some brokers send the ECN in .pdf format but as I said, Geojit uses .html. I open this .html file in a browser and can then copy-paste into a spread-sheet for further calculation. I don't think this is possible with a .pdf file. To my mind the greatest advantage of ECN is if it can be imported into a spreadsheet. I guess the advantage of a hard copy is if one works off-line.
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#5
22nd January 2009, 08:38 PM
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Re: Electronic contract notes
Lot of advantages. Foremost: least paper work. Earlier, I was getting contract notes by post from India Bulls. While, a number of times it was being misplaced, many times I used to get it after a month. Reconciliation was time consuming. After opting ECS, I do reconciliation by 9PM of transaction date. Very convenient.
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#6
23rd January 2009, 09:15 AM
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Re: Electronic contract notes
Quote:
Hi vasa, Please clarify how u using ECN in spreadsheet? Regards VJAY
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#8
23rd January 2009, 09:50 AM
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Re: Electronic contract notes
What if you needed hard copies for any reason, assuming 250 working days and for a regular traders assuming 1 per day that would be 250 prints.
Do all regulatory/govt. authorities accept electronic media if necessary?
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#9
23rd January 2009, 10:16 AM
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Re: Electronic contract notes
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#10
23rd January 2009, 03:45 PM
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Re: Electronic contract notes
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In case I don't make sense just ask  .First the ECN must be a .html (opened with a browser) and not a .pdf file (opened with Acrobat Reader). I have both Excel and Firefox open. In the first is a blank spreadsheet, in the other is my contract note. With the mouse, I select the part of the ECN note that has stuff like trade time, order number, scrip, etc., etc. This I copy and paste into the spreadsheet as "html" or "unformatted text". It depends on your spreadsheet program and browser, which of the two you choose. In the spreadsheet I also "demerge" the entire sheet. After that I can sort by scrip name, intra-day or delivery, etc. and perform sub-totals etc. I do this so I can apportion service tax, ed. cess, and other charges on a pro rata basis.
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