Clearing Members Statistics

• Types of Membership
  
  
  
  
• Criteria (Base Minimum Net worth and Deposits)
  
  

  Segment
  	Self-Clearing Member  (Rs. in crore)		Clearing Member- TCM  (Rs. in crore)		Clearing Member- PCM   (Rs. in crore)
  	Net worth	Deposit#	Net worth	Deposit#	Net worth	Deposit#
  Equity Cash	5	0.0	15	0.0	50	0.0
  Equity Derivatives	5	0.5	15	0.5	50	0.5
  Currency Derivatives	5	0.5	15	0.5	50	0.5
  	500 (For Banks)	0.5	500 (For Banks)	0.5	500 (For Banks)	0.5
  Commodity Derivatives	5	0.5	15	0.5	50	0.5
  Electronic Gold Receipt	5	1	15	1	50	1
  Debt	5	0.5*	15	0.5*	50	0.5*

  
  * Not required if already a clearing member in any other segment.
  # Note – Deposit is the Minimum Liquid Net worth (MLN) which is to be maintained with ICCL during the period of membership

Membership Process – New Admission

• For Members seeking admission in "Additional Segment" i.e. Members having membership at any other Exchange/Clearing Corporation.
  
  Process:
  • The application form as per format is to be provided by member.
  • Details and document verification.
  • On receiving the complete documents, member fulfilling the eligibility criteria, an admission letter is issued to the member, informing about business commencement procedure.
  • A letter to SEBI is issued, informing about the admission of member.
  • The format of the application form for Clearing Members(TCM)/Self Clearing Members(SCM) in this category - Annexure I
  
  
• Members not having membership at any Exchange/Clearing Corporation seeking admission as clearing member, where SEBI approval is required.

Process:
• The application form as per format is to be provided by member.
• Details and documents verification.
• On receiving the complete documents, member fulfilling the eligibility criteria, an admission letter is issued to the member.
• Application is forwarded to SEBI for approval and issuance of SEBI Registration certificate.
• On receiving SEBI approval, a letter is issued to member informing about business commencement procedure.
• The format of the application form for Professional Clearing Members (PCM) in this category - Annexure II

Surrender of Membership

Following steps are involved in surrender of clearing Membership with ICCL in any segment.

• Application form to be submitted by member-Format as per Annexure – IV
• Verification of compliance requirements, details and documents.
• Approval letter from ICCL issued to the member.
• SEBI is informed about surrender of clearing membership.
• In case member having separate registration of clearing membership certificate issued by SEBI, application will be sent to SEBI for approval.