India adopts single contract note for BSE and NSE

India used a common contract note for trading on both its main stock exchanges for the first time on Wednesday, the country’s markets regulator said, adopting a practice followed in developed markets such as the U.S.

“The move aims at increasing cost efficiency, reducing compliance burden for market participants and ensuring consistent trade reporting,” the Securities and Exchange Board of India said on Wednesday.

Previously, investors needed separate contract notes with details such as price, quantity and charges for each transaction when trading on the BSE and National Stock Exchange (NSE).