Trading-cum-Clearing Member (TCM): A member with a right to trade on its own account as well as on account of its clients. He can clear and settle the trades for self and for others through Metropolitan Clearing Corporation of India Ltd (MCCIL). Membership of MSEI can be taken by an Individual, Registered Partnership Firm, Corporate or Bank. Membership of MSEI cannot be taken by a member of any commodity exchange. In case the applicant for membership of the Exchange is a Corporate, minimum paid up capital of the Corporate should be 30 lakhs.
In order to apply for membership to the Exchange, applicants need to submit the duly filled Membership Application Form along with the required documents and applicable fees /deposits.
Composite/Exclusive Membership of Capital Market/F&O/Currency Derivatives/Debt Segment
Segment |
Membership Type | Net worth | Admission Fee | Deposit Structure | |
---|---|---|---|---|---|
MSEI Cash | Total | ||||
Capital
Market |
SCM | 30 | 5* | 10# | 30 |
Futures & Options |
TM/SCM/TCM | 30/100/300 | 10# | ||
Currency Derivatives |
TM/SCM/TCM | 100/500/1000 | 10# | ||
Wholesale Debt Market |
TM/SCM/TCM | 50/100/300 | NA |
* 2.5 Lakhs for applicants applying exclusive in CD Segment.
* 2.5 Lakhs as admission fee for applicants applying exclusively in Capital Market and Futures & Options Segment
* 5 Lakhs as admission fee for applicants applying in Capital Market, Futures & Options Segment and CD Segment
# Payable by Member on Activation of trading
Additional Requirement for Clearing Membership of F&O/Currency Derivatives
Segment |
Membership Type | Networth | Admission Fee | Deposit Structure | ||
---|---|---|---|---|---|---|
MCCIL | MCCIL | Total | ||||
Cash | Non Cash | |||||
Futures & Options |
SCM | 100 | - | 25 | 25 | 50 |
TCM | 300 | - | 25 | 25 | 50 | |
Currency Derivatives |
SCM | 500 | - | 25 | 25 | 50 |
TCM | 1000 | - | 25 | 25 | 50 |