Types of Membership
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Types of Membership Home » Membership » Types of Membership
All the trades on the NDEX platform are executed only by or through the registered members of NDEX. Membership is offered in the  following categories:

  • Trading Member (TM)
  • Trading - Cum - Clearing Member (TCM)
  • Institutional Trading-cum-Clearing Member (ITCM)
  • Professional Clearing Member (PCM)

Trading Member (TM)


Trading Membership entitles the members only to trade on his own account as well as on account of his clients. These Members do not have any right to clear or settle such trades. These members must be associated with any one of the Institutional Trading-cum-Clearing Member (ITCM) or Professional Clearing Member (PCM) having clearing rights of the Exchange.


Trading-cum-Clearing Member (TCM)

Trading-cum-Clearing Membership entitles the members to trade and clear, both for themselves and/ or on behalf of their clients.


Institutional Trading-cum-Clearing Member (ITCM)

Institutional Trading-cum-Clearing Membership entitles the members in addition to the existing rights and responsibilities as TCM shall be also entitled to and liable to settle and clear the trades/transactions done by the Trading Members affiliated with them.


Professional Clearing Member (PCM)  


Professional Clearing Membership entitles the members only to clear and settle s the trades executed by their clients.


A. Who can be the member of Exchange ?
  • Corporate
  • Investment Companies
  • Private Limited Companies.
  • Registered Partnership firms and
  • Cooperative societies.

B. Document to be submitted by Members.

  • Dully filled Application form .
  • Curriculum Vitea of the applicant( Authorized person of firm)
  • Must have at least bachelor degree.
  • Must have past experienced regarding this market .
  • Attested copies of Company registration certificate.
  • Attested copies of Memorandum of articles & certificate of commencement of business for corporate / institutions
  • Attested copy of the board resolution authorizing the application for membership  for corporate & institutions.
  • Company minute with authorize signature.
  • Attested copies of citizenship .
  • Attested copy of PAN or VAT Registration certificate.
  • Agreement Clearing Member and Trading Member
  • TM undertaking.
  • In case of partnership firm, copy of Firm Registration Certificate, Copy of Registered Partnership agreement, undertaking from all partners authorizing the managing partner to do the required agreements and other works. 
  • Bank reference letter.
  • Passport sized photo of the signatories to be paste on the application form.
  • Minimum paid up capital of firm 10 Lakhs
  • Authorized capital above 50 lakhs.
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