Electronic contract notes expanded to equity derivatives, with mandated digital signature validity and standard messaging formats. Extension of electronic contract notes to the equity derivatives segment permitting ECNs generated through Straight Through Processing to serve as valid legal documents, adopting IFN 515 and IFN 598 messaging formats, and requiring exchanges to amend bye-laws to permit standard pre-printed terms, allow digital signatures on ECNs, and prescribe a uniform issuance format; where necessary, standard terms absent from ECNs must be incorporated into Client Broker Agreements or Tripartite Agreements.
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Provisions expressly mentioned in the judgment/order text.
Electronic contract notes expanded to equity derivatives, with mandated digital signature validity and standard messaging formats.
Extension of electronic contract notes to the equity derivatives segment permitting ECNs generated through Straight Through Processing to serve as valid legal documents, adopting IFN 515 and IFN 598 messaging formats, and requiring exchanges to amend bye-laws to permit standard pre-printed terms, allow digital signatures on ECNs, and prescribe a uniform issuance format; where necessary, standard terms absent from ECNs must be incorporated into Client Broker Agreements or Tripartite Agreements.
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