Final note
The final note must according to Section 94 (1) of the German Commercial Code ( HGB) is sent to both parties by the broker or counterparty immediately after the conclusion of the transaction and documents the establishment of a stock exchange or goods transaction. The obligation to issue a final grade applies to both written and oral degrees. The following information is contained in the electronic confirmation:
- Completed course
- ISIN and security name
- number of pieces
- Trading day and value date
- Buy / sell
- Stock exchange
- Counterparty
Each coupon has the character of a document and requires an electronic (previously: handwritten) signature. By assigning a unique final note number, both parties are able to complain about the final note within a specified time frame. If the time frame is exceeded, the content is considered accepted and binding. In addition to the “trade confirmations” generated automatically and in paper form in the XETRA trading system, it is also possible for the transactions to be confirmed by a contract note. The German stock exchange AG demands for a fee of currently 0.06 € / contract note.