Admission of Clearing Members in Commodity Derivatives Segment

• Notice No: 20180924-52
• Notice Date: 24 Sep 2018
• Category: Settlement/RMS
• Segment: Commodity Derivatives

 Indian Clearing Corporation Ltd (ICCL) has received approval from SEBI for introducing commodity derivatives segment platform to facilitate Clearing & Settlement in Commodity Derivatives Segment vide letter no. SEBI/HO/CDMRD/DEA/OW/P/2018/25880/1 dated September 19, 2018.

·         Admission of existing Clearing Member registered with any other Exchange/CC in any segment.

·     The existing trading members/clearing members in any Stock Exchange or Clearing Corporation (including ICCL) in any segment may be admitted as Clearing Members or Self Clearing Members with ICCL in Commodity Derivatives is Segment as “Additional Segment”, as per the provisions of SEBI circular no. CIR/ MIRSD/ 4/ 2014 dated October 13, 2014 in respect of Single registration of Stock brokers and  Clearing members, by granting the approvals by ICCL only.

            The admission form for this category of members is attached with this notice as Annexure -1

·        Admission of Clearing Member who is not registered with any Exchange/CC in any segment.

The application of Members in this category will be approved by ICCL as a new member and thereafter the same would be sent to SEBI for approval and issue of a registration certificate in the name of member.

            The admission form for this category of members is attached with this notice as Annexure -2

1)   TYPES OF CLEARING MEMBERS :

ICCL admits Clearing Members under following types:

Sr. No.	Type	Description
1	Self-Clearing Member (SCM)	Self-Clearing Member is a member who can clear its own trades only.
2.	Clearing Member (CM)	A clearing member  can clear trades for itself and other  trading members

2)   Membership Criteria*

Segment	Clearing Member (Rs. In Millions)		Self-Clearing Member (Rs. In Millions)
	Net worth	Deposit	Net worth	Deposit
Commodity Derivatives	30	5	10	5

        * As may be specified by SEBI from time to time 

Note – Deposit is the Minimum Liquid Net worth (MLN) which is to be maintained with ICCL during the period of membership

3)   Annual Charge of Fees*

Segment	(Rs. In Million)
	SEBI		ICCL
	Clearing Member	Self-Clearing Member	Clearing Member	Self-Clearing Member
Commodity Derivatives	0.05	0.05	Nil	Nil

 
           * As may be specified by SEBI from time to time

            For any clarification, please contact the following officials of Membership Department.

Name	Contact no.	Email ID
Kumar Vasudevan	022-22728365	[e-mail]
Praveen Poojary	022-22728788	[e-mail]

For and on behalf of ICCL  

Ravindra B. Palande

Dy. General Manager

Membership Dept.

Tel No. – 022-22728308

Email – [e-mail]