This move to facilitate the issuance and delivery of contract notes electronically will complement dealers' online trading facilities in addition to providing value-added services to their clients.

This latest development by the SC is aligned with broader efforts to promote technological innovation in order to further enhance the overall efficiency of the capital market infrastructure, as encapsulated in the SC's Consultation Paper on "Framework for the Implementation of Electronic Commerce in the Capital Market" as well as the Capital Market Masterplan.

The Guidelines require that dealers who wish to provide for the issuance and delivery of electronic contract notes must, prior to carrying out such activity, submit a declaration from their internal auditors on the systems and controls, and another declaration from a director that the issuance and delivery of electronic contract notes complies and will continue to comply with the Guidelines.

The Guidelines are available on the SC website here.