- Clearing Members statistics
- Types of Membership
-
Criteria (Net worth and Deposits)
| 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.
- For Members seeking admission in "Additional Segment" i.e. Members having membership at any other Exchange/Clearing Corporation.
Process:
- 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
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.