Membership
First Commodity Exchange of India Limited has got two types of membership.
- Equity Membership
- Trading Membership
Equity Membership are for those who prefer to invest in the Equity of the Company. For such membership five shares in the Company are mandatory. They have full clearing rights. They are eligible for dividend and other payouts from the Company and shall have every right in the management of the Company as applicable in the Companies Act and the Articles of the Company.
Trading Membership are simple membership with a right to avail the exchange�s Trading platform. They do not have equity participation but shall be having full clearing and delivery rights to do trading in their own name. Their Total Outstanding Position (TOP) is limited.
Eligibility Criteria
The following entities are eligible to apply for membership.
- Individuals
- Registered firms
- Corporate bodies
- Companies as defined in the Companies Act.
Net Worth
Minimum prescribed net worth of an applicant is Rupees Thirty lakhs.
Net worth certificate should be furnished for the purpose, computed by a practicing Chartered Accountant.
Paid-up Capital
Minimum prescribed paid-up capital for a corporate shall be Rupees Twenty five lakhs.
For partnership firms, the combined capital of all partners shall be Rupees Twenty five lakhs.
