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Mumbai March 8 MCX has hiked the membership fees under three categories - trading-cum-clearing member (TCM) (both deposit and non-deposit based); professional clearing member (PCM); and institutional trading-cum-clearing member (ITCM). The new rates will take effect from April 1.

The admission fees for TCM, non-deposit based, has been raised to Rs 20 lakh from Rs 10 lakh, while for the deposit-based member, it has been hiked to Rs 10 lakh from Rs 5 lakh. Security deposit for TCM has been revised at Rs 30 lakh (non-deposit based) and Rs 65 lakh (deposit based).

A TCM is entitled to trade on his own account as well as on the account of his clients apart from clearing and settling these trades. A PCM is an institutional clearing member entitled to clear and settle trades executed by other members of the exchange.

An ITCM is entitled to trade on his own account and on the account of his clients, clear and settle trades executed by him (the member) and other trading members of the exchange.

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MCX hikes membership fees

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