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Your contract note is evidence that you've bought or sold shares. It remains an important document.
However, with the shortening of the stockmarket's trading account under 'rolling settlement' and given the increasing use of online share dealing, you will no longer receive physical share certificates.
Certainly, if your funds are being held by a stockbroker in a nominee account you won't get the certificates. This means your contract note is the main evidence you physically have of the quantity of shares you bought or sold and of the price you bought or sold them at. It will also tell you what, if any, benefits are attached, such as dividends , scrip or rights issue.
See Also: Online share dealing service Stockmarket Centre
Last Updated: May 2007 © Moneyextra.com
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