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New Deposit Based Memberships of BSE 
Deposit Based Membership Manual

Terms and Conditions:

Bombay Stock Exchange Ltd. ( BSE) is admitting Deposit Based Memberships (Trading Memberships) on its "Cash Segment".. BSE invites applications from all over the country against a deposit of Rs. 100,00,000 (Rupees One hundred lakhs only). The successful applicants would also be subsequently eligible for F & O Trading Membership (applications to be made separately for the same).

Persons desirous to apply for Trading Membership of the "Cash Segment" of BSE may send their applications in writing in a sealed envelop marked "Offer for Deposit Based Membership" and addressed to the Managing Director & CEO, Bombay Stock Exchange Limited, 25th Floor, P.J. Towers, Dalal Street, Mumbai 400 001.

The applicants must note the following terms and conditions:

The Trading Member has only trading rights and no ownership rights of BSE Ltd.

  1. The applications should be complete in the prescribed formats and in all respects.

  2. The specimen of the application form as well as the other material including the terms and conditions and salient features of the Trading Membership are available with the Publications Department on Ground Floor of BSE or can be downloaded from the BSE website. www.bseindia.com/dbm.asp The Rules, Bye-Laws & Regulations of BSE can also be downloaded from the web site http://www.bseindia.com/about/downloads.asp .

  3. The application form in the prescribed format, complete in all respects should be accompanied by a Payee`s A/c Demand Draft/Pay Order for Rs. 5 lakhs (Rupees Five lakhs only) drawn in favor of "Bombay Stock Exchange Limited" towards earnest money deposit on which no interest will be payable.

  4. The earnest money deposit of Rs. 5 lakhs (Rupees Five lakhs only) shall be interest free and be refunded (without interest) to the unsuccessful applicants who are rejected on account of such applicants not meeting eligibility criteria or requirement as may be prescribed by BSE from time to time.

  5. Applications can be made by individuals and corporates who are eligible to become a Trading Member of BSE in accordance with the Rules, Bye-Laws & Regulations of BSE and subject to such terms and conditions as may be decided by BSE from time to time.

  6. The successful applicants whose offers are accepted by BSE shall be required to pay the balance amount of the deposit within two months from the date of receipt of the letter of acceptance of offer of the person / corporate for Trading Membership of BSE .

  7. BSE will be entitled, at its sole discretion, to forfeit the Earnest Money Deposit, if the successful applicants fail to pay the balance amount within the stipulated time. The Earnest Money Deposit of Rs. 5 lakhs (Rupees Five lakhs only) is also liable to be forfeited by BSE , at its sole discretion, if the successful candidate fails to complete the necessary formalities to the satisfaction of BSE within the stipulated time.


  8. The interest free deposit of the Trading Members will not have any Lock - in period. However, any trading member who wants refund of Interest Free Deposit of Rs.100 lacs shall be first required to apply for surrender of trading membership right. Before applying for surrender of trading membership right, such member shall ensure voluntary closure of business. The voluntary closure should be at least for a period of 6 months prior to the date of surrender. Where the trading terminals of the member has remained deactivated for a period of 6 months prior to the date of surrender it shall be construed as closure of business. On receipt of application for surrender, the Exchange will give Public Notice in newspaper to enable the investors /public to lodge claims, if any, against surrendering trading member, giving a period of 3(three months) from the date of Public Notice. However, this condition would not apply to the members who have not commenced business or have not activated their trading terminals at all. Further, the amount of Interest Free Deposit will be refunded only after recovering outstanding amount if any by BSE and after getting NOC from SEBI.

  9. In addition to the aforesaid amount of Rs.100 lakhs (interest-free deposit), the Trading Member has to pay the following amounts:


    1. Base minimum Capital - Rs.10,00,000

    2. Trade Guarantee Fund - Rs.10,00,000

    3. Admission Fees (non-refundable) - Rs. 2,50,000/- + Service Tax (As applicable)

    4. Annual Subscription - 25,000/- + Service tax (As applicable)

    5. Initial Contribution towards TGF - 10000/- + Service Tax (As applicable)
    6. Brokers Contingency Fund - Nil
    7. Any other amount so required by BSE Ltd.


  10. BSE will be entitled to accept the applications for Deposit Based Membership on such parameters and criteria as may be decided by BSE from time to time.


  11. BSE reserves the right to reject any application without assigning any reason whatsoever.


  12. The decision of BSE will be final and binding in all respects.


  13. Applicants will have to ensure that the Designated Directors of the applicant company are not whole time director or in full time employment in any other company.

For any further information/clarification, interested applicants are requested to contact the following officials in Business Development and Marketing Department of BSE:

  1. Mayuresh Samant: 22721233/4 Ext. 8355
    E-mail: mayuresh.samant@bseindia.com

  2. Manthan B. Desai: 22721233/4 Ext. 8890
    E-mail: manthan.desai@bseindia.com

Information on Deposit Based Membership is also available at following BSE Investor Service Centres :

1]  Kolkata : 033-22130530
2]  New Delhi : 011-41510481
3]  Ahmedabad : 079-27540445
4]  Rajkot : 0281-5595542
5]  Chennai : 044-42163999
6]  Cochin : 0484-2405275