ICCL - Membership Criteria
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Membership Criteria
  • Clearing Members statistics

    Clearing Members statistics

  • Types of Membership

    Types of Membership

  • Criteria (Net worth and Deposits)

    Clearing Member  (Rs. in crore) Self-Clearing Member  (Rs. in crore)
    Net worth Deposit Net worth Deposit
    Equity Cash N/A N/A 0.3 0.1
    Equity Derivatives 3 0.5 1 0.5
    Currency Derivatives 10 0.5 5 0.5
    Commodity Derivatives 3 0.5 1 0.5
    Debt 3 0.5* 1 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.

  • 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.