So finally one of the asks of BSE CEO for CCN has been implemented. Another one on unbundling of clearing house charges is being discussed, could also be implemented in this FY. With NSDL IPO coming soon & NSE IPO later in year, these are few more triggers that can change the trading complexion in coming quarters. Need to be seen, how BSE mgmt is gearing up for some of these tailwinds, along with the expiry change.
My LInkedIn writeup Common Contract Note: A Game-Changer for Indian Securities Markets
More details on CCN below, as per the Press Release by SEBI. Common Contract Note with Single Volume Weighted Average Price (VWAP) – Enhancing Ease of Doing Business for Market Participants
In a significant step towards promoting ease of doing business for institutional investors and market participants, Common Contract Note (CCN) with a Single Volume Weighted Average Price (VWAP) has been made mandatory with effect from June 27, 2025.
The erstwhile system required separate trade confirmations for each exchange resulting in complicated reconciliation, settlement, and regulatory compliance. Based on the representation received from market participants, it was decided to provide uniformity in post - trade communication. Accordingly, in collaboration with concerned stakeholders, a single consolidated contract note mechanism with uniform VWAP was conceptualized and developed for multi-venue trading.
The reform will simplify the post - trade reporting process by consolidating trades executed across multiple exchanges into a single, harmonized document, eliminating the need to process multiple contract notes. The move aims at increasing cost efficiency, reducing compliance burden for market participants and ensuring consistent trade reporting aligned with the CC interoperability framework.