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.
- Eligibility Criteria for at least 2 Directors
- Age - Minimum 21 years of Age
- Education - Should be at least HSC
- Experience - Minimum 2 years relevant experience
- After provisional admission to membership of the Exchange, the membership has to be registered with SEBI
- The applicant has to ensure that at least two of their users should be successfully certified for the relevant module pertaining to the respective segments wherein membership of the Exchange has been sought.
- For fees and deposit structure please refer to the below mentioned table
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.
Fees & Deposit Structure:
| Membership of Equity Capital Market / Equity Derivatives / Currency Derivatives / Debt Segment | ||
|---|---|---|
| in lakhs |
||
Segments (ECM, EDS, CDS, Debt) |
Admission Fee | Processing Fee |
|
|
||
| Any one segment | 2.50 | 0.10 |
|
Any two segment
|
3.50 | |
|
Any three segment
|
4.50 | |
|
All segments
|
5.00 | |
| Admission and processing fee are one-time charge paid towards initiating membership of the Exchange. The fees are non-refundable and shall not be considered towards Base Minimum Capital and/or margin. | ||
| Net worth Requirements and Deposit Structure Membership of Capital Market / F&O / Currency Derivatives / Debt Segment |
|||
|---|---|---|---|
| in lakhs |
|||
Segments |
Membership Type | Net worth Requirements | Membership Deposit |
|
|
|||
| Capital Market | SCM | 30 | 10# |
| Futures & Options | TCM | 300 | 10# |
| Currency Derivatives | TCM | 1000 | 10# |
| Debt Segment | TCM | 300 | Nil |
| Membership deposit of 10 lakhs per segment will be collected in Cash only. # Payable by Member on Activation of trading |
|||
| Additional Requirement for Clearing Membership of F&O/Currency Derivatives/Debt Segment | |||
|---|---|---|---|
| in lakhs |
|||
Segment |
Deposit Structure | ||
| MCCIL | MCCIL | Total | |
| Cash | Non Cash | ||
Futures & Options |
25 | 25 | 50 |
Currency Derivatives |
25 | 25 | 50 |
Debt Segment |
1 | - | 1 |