| Members are the interface
between MCX-SX and its users. All transactions on the
MCX-SX platform have to be executed between registered
members. Non-member participants have to participate
as clients of members. Members must have a high standard
of integrity in all their operations in addition to
complying with stringent capital adequacy requirements,
and have appropriate staff. Applications for membership,
and the applicants themselves, will be evaluated to
strict standards to maintain public confidence in the
exchange. Benefits of membership:
Membership of MCX-SX entitles you to several
benefits. You will not only have direct access to
the Exchange’s trading system, but also receive
all our information and research materials. These
knowledge tools empower you to take informed trading
positions for yourself as well as advise your clients
on the best positions for them. You will able to benefit
from special training programmes too. Above all, you
will be a mainstream player in the development of
the exchange-traded currency futures market in India
and its gradual integration with the global market.
Categories of membership:
MCX-SX is offering the following categories of membership:
- Trading Member (TM): A member
with rights to trade on its own account as well
as on account of its clients, but has no right to
clear and settle such trades itself.
- 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
the Clearing House of MCX-SX.
- Professional Clearing Member (PCM):
A PCM is entitled to clear and settle trades executed
by other members of the exchange. Only corporate
entities or institutions are eligible to apply for
PCM.
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