The contract note is issued by ___________.(1.0 Marks)Broker / Trading MemberADepository ParticipantBCustodianCStock Exchange
Question
The contract note is issued by ___________.
(1.0 Marks)
- Broker / Trading Member A
- Depository Participant B
- Custodian C
- Stock Exchange
Solution
The contract note is issued by Broker / Trading Member.
Explanation:
A contract note is an official document provided by a broker to their clients after a transaction is completed. This document contains vital information regarding the trades executed, including the details of the shares involved, their prices, and the total amount due. Brokers, acting as intermediaries between buyers and sellers in the stock market, are responsible for issuing these notes to confirm the transaction. It serves as a legal record for the clients and is essential for tracking investments and for accounting purposes. Other entities listed, such as Depository Participants, Custodians, and Stock Exchanges, have distinct roles and functions in the securities market but do not typically issue contract notes directly to clients.
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