Business Rules
Business Rules
Business Rules
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BUSINESS RULES
CHAPTER I 4
INTRODUCTION AND MEMBERSHIP 4
1.
Introduction
4
2.
Applicability
4
3.
Business/Operations
4
4.
Eligibility for Trading 4
5.
Membership
4
6.
Admission fee 9
7.
Annual subscription
10
8.
Transfer of Membership
11
8A.
Transmission of Membership 13
8B.
Nomination of Membership
14
8C Change In Designated Director
15
8D Change in Shareholding Pattern/ Change in
16
Dominant Promoter Groups Shareholding Sharing Pattern 16
8E Conversion Of Membership/ Change In Constitution of Member
17
8F Change of Name
18
9.
Surrender of membership
18
10.
Insurance
21
10A.
Authorised Persons
21
10B.
Anti Money Laundering and Know Your Customer (KYC)
Norms 27
CHAPTER II - MARKET OPERATIONS
33
11.
Deposit 33
12.
Additional Deposit
34
13.
Trading Days: 44
14.
Trading Hours: 45
15.
Trading Parameters
45
16.
Order Management
48
17.
Matching Rules49
18.
Margin requirements 49
19.
Clearing Banks 54
20.
Clearing House 56
21.
Delivery Procedure
58
22.
Approved Surveyors
70
23.
Risk Management System
70
24.
Surveillance: 73
25.
Transaction Fee
75
26.
Reports76
27.
Dealing with clients
77
28.
Brokerage
84
28A.
Exchange of Futures for Physicals (EPF)
84
FORM-A
88
CLIENT UNDERTAKING
90
FORM-B
91
CLIENT UNDERTAKING
92
CHAPTER III
94
TRADING SYSTEM 94
29.
Trading System
94
30.
Approved Users
95
31.
Connectivity
95
32.
Expansion of trading terminals 98
33.
Contingency Management
99
34.
Major Breakdown of the system
communication link
99
CHAPTER IV
or
failure
of
100
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CHAPTER V 119
ARBITRATION
37.
119
ABITRATION PROCEDURE
100
119
ANNEXURES
131
Annexure I 131
APPLICATION FOR TRADING MEMBERSHIP
134
APPLICATION FOR TRADING-CUM-CLEARING MEMBERSHIP 146
APPLICATION FOR PROFESSIONAL CLEARING MEMBERSHIP
156
APPLICATION FOR INSTITUTIONAL TRADING-CUM-CLEARING MEMBERSHIP
165
Annexure-II 174
Trading-cum-Clearing Membership Undertaking 174
Annexure-III180
Bio data
180
Annexure-IV 181
Format of the Fresh Bank Guarantee for Margin/Additional Deposit
181
Annexure-V 186
List of approved banks
186
Annexure-VI 187
Format for Renewal of Bank Guarantee
187
Annexure-VII
190
Letter from the Member regarding Lien on Fixed Deposit
190
Annexure-VIII
191
Letter from the Bank confirming the Lien on Fixed Deposit
191
Annexure-VIIIA
192
Annexure-VIIIB
193
Annexure-VIIIC
167
Annexure-IX 168
Letter from Member to the Clearing Bank for operations of Clearing Account 168
Annexure-X 169
Stamp Duty Rates
169
[Annexure-XIV
204
CONTRACT NOTE 204
Annexure-XV
208
Application for Approval as Authorised User
Annexure-XVI
209
Annexure-XVII
212
Annexure-XVIII
216
Annexure XIX
217
208
209
212
Annexure - XX
235
241
244
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Suggested format of Board resolution for Surrender of Tradingcum-Clearing Member 246
Letter of authority
247
Format of Advertisement for Surrender of Trading-cum-Clearing
Membership
248
Annexure - XXI
249
Annexure XXII
257
Annexure - XXIII
268
Annexure - XXIV
306
Form No- I: Arbitration Application 306
Form No- II: Nomination and Appointment of Arbitrators
308
Form No- III: Reply by the Respondent to Arbitration Application
Form No- IA: Arbitration Application
312
Form No- II A: Nomination and Appointment of Arbitrators
314
Form No- III A: Reply by the Respondent to Arbitration Application
Annexure - XXV
317
Format of Nomination
317
Format of change of Nominee
318
Annexure - XXVI
319
Format of Undertaking for reactivation of trading account
319
Annexure - XXVII 320
[Electronic Contract Note [ECN] DECLARATION
320
Annexure
310
315
331
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CHAPTER I
INTRODUCTION AND MEMBERSHIP
1. Introduction
These Rules shall be termed as Business Rules of Multi
Commodity Exchange of India Limited or for the sake of
brevity as MCX Business Rules.
These Rules shall be subject to the provisions of the Forward
Contracts (Regulation) Act, 1952 and Rules framed
thereunder, Articles of Association, Rules and Bye-Laws of
Multi Commodity Exchange of India Limited (MCX), as
applicable to the Members of the Exchange, their
Representatives and their Clients.
2. Applicability
These Rules shall be enforceable on the Members of the
Exchange, Clearing Banks, Clients, Constituents and all other
Participants operating on or through the Exchange in respect
of their rights and obligations relating to trading on MCX.
They shall be subject to jurisdiction of the Courts of Mumbai
irrespective of the place of business of the Members of the
Exchange or their customers and clients in India or elsewhere.
3. Business/Operations
MCX shall conduct trading in derivatives contracts in various
commodities permitted by the Government of India under the
Forward Contracts Regulations Act, 1952, and any other Act
subject to approval of the Forward Markets Commission or
any other authority as may be applicable.
4. Eligibility for Trading
At MCX, only the members of the Exchange, who have been
admitted as such by the Board, are eligible to participate in
trading on the Exchange platform. Persons, who are not
members of the Exchange, can participate in trading on the
Exchange platform only as authorized persons or clients
through a registered member of the Exchange.
5. Membership
1
[5.1.A person who is desirous of becoming a registered
member of Exchange may apply for any of the following
categories:-
Modified as per Circular No.MCX/MEM/026//2007 dated 17/1/07 w.e.f. 1/4/07. Earlier modified vide Circular
No.MCX/149/2006 dated 6/4/06 w.e.f. 15/4/06 and Circular No.MCX/157/2006 dated 12/4/2006 w.e.f. 1/5/2006.
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(5.1.4.
Trading Member (TM) A Trading
Member is entitled to trade on his own account as
well as on account of his clients, but has no right
to clear and settle the trades himself. Such
member shall he affiliated with any one of the
Institutional
Trading-cum-Clearing
Member
(ITCM) or Professional Clearing Member (PCM)
having clearing rights on the Exchange. A sole
proprietor, a partnership firm, a joint Hindu
undivided family, a company, a cooperative society,
a public sector organization, statutory organization
or any other Government or non-Government entity
can apply for TM.)
5.2.
5.3.
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5.5.
5.6.
2)
Supra note 3
Supra note 2
3
Supra note 3
4
Supra note 2
5
Supra note 2 and 3
2
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3)
4)
5)
5.7.
5.8.
Inserted vide Exchange Circular No. MCX/COMP/127/2011 dated 16/04/2011 pursuant to the directions issued by the FMC vide
its letter No. 5/1/2009/MD-I dated 28/03/ 2011
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5.11.2
Inserted vide Exchange Circular No. MCX/358/2011 dated 11/10/2011 pursuant to the directions issued by the FMC vide letter
No. 9/1/2011-MKT/I dated 26/09/2011
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A
Member
without
Algo
Trading
Applicable
Base
Minimum
Capital
(Rs.
in
lacs)
10
To be paid by
April
30, 2013
(Rs. in lacs) 50%
of BMC
To be paid by
September
30,
2013 (Rs. in lacs)
balance 50% of
BMC
Amended vide Exchange Circular Ref. No. MCX/MEM/138/2012 dated April 11, 2013 pursuant to Forward Markets
Commission (FMC) letter Ref. No. 6/12/2012-MKT-I dated March 8, 2013
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(i)
Business Rule 5.12.8(i) amended vide Exchange Circular Ref. No. MCX/MEM/245/2014 dated July 11, 2014. Prior to its
amendment, Business Rule 5.12.8(i) read as under:
who did not activate trading at all, refund after 6 (six) months from the date of issue of advertisement by the
Member/Exchange with respect to surrender of membership; or
Earlier amended vide Exchange Circular Ref. No. MCX/MEM/171/2014 dated May 2, 2014. Earlier inserted vide
MCX/MEM/138/2012 dated April 11, 2013 pursuant to Forward Markets Commission (FMC) letter Ref. No. 6/12/2012-MKT-I
dated March 8, 2013
2
Amended vide Exchange Circular Ref. No. MCX/MEM/138/2012 dated April 11, 2013 pursuant to Forward Markets
Commission (FMC) letter Ref. No. 6/12/2012-MKT-I dated March 8, 2013
3
Clause substituted vide Exchange Circular Ref. No. MCX/MEM/245/2014 dated July 11, 2014. Prior to its substitution, vide
Exchange Circular Ref. No. MCX/MEM/138/2013 dated April 11, 2013 pursuant to Forward Markets Commission (FMC) letter
Ref. No. 6/12/2012-MKT-I dated March 8, 2013 Clause VIII read as under:
The Base Minimum Capital (BMC) along with the applicable Initial Security Deposit (ISD), if any, (i.e. ISD as
available after the adjustment as stated above in point no. IV), shall be refunded to the Member after three years from
the date of issue of advertisement by him with respect to surrender of membership and will be subject to approval of
surrender of membership from the Exchange, Forward Markets Commission (FMC) and fulfillment of all dues
/compliances under the Bye-laws, Rules and Business Rules of the Exchange, Forward Markets Commission and
circulars issued there under. The said BMC along with Initial Security Deposit may be retained by the Exchange
beyond the stipulated period, if any unfulfilled obligations including arbitration claims, investor complaints other
grievances/claims, disciplinary action etc, against the Member come to the Exchanges notice before the stipulated
period of release of BMC and Initial Security Deposit (ISD).
10
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cum-
Clearing
Member
[Rs.
Business Rule 5.12 inserted vide Exchange Circular Ref. No. MCX/MEM/138/2012 dated April 11, 2013 pursuant to Forward
Markets Commission (FMC) letter Ref. No. 6/12/2012-MKT-I dated March 8, 2013.
2
Increased vide Exchange Circular Ref. No. MCX/MEM/26/2007 dated January 17, 2007. Prior to amendment, Admission fee for
Deposit based was Rs. 5,00,000/- vide Exchange Circular Ref. No. MCX/149/06 dated April 06, 2006 and Rs.3,75,000/- vide
Exchange Circular Ref. No. MCX/245/2005 dated July 4, 2005.
3
Increased vide Exchange Circular Ref. No. MCX/MEM/247/2008 dated July 22, 2008. Prior to amendment, Admission fee for
Non Deposit Based was Rs. 20,00,000/- vide Exchange Circular Ref. No. MCX/MEM/026/2007 dated January 17, 2007,
Rs. 10,00,000/- vide MCX/149/06 dated April 06, 2006 and Rs. 7,50,000/- vide Exchange Circular Ref. No. MCX/245/2005 dated
July 4, 2005.
4
Increased vide Exchange Circular Ref. No. MCX/MEM/026/2007 dated January 17, 2007, Prior to amendment, Admission fee
for Professional clearing Member Nil vide Exchange Circular Ref. No. MCX/149/06 dated April 06, 2006 and Nil vide Exchange
Circular Ref. No. MCX/245/2005 dated July 4, 2005.
5
Increased vide Exchange Circular Ref. No. MCX/MEM/026/2007 dated January 17, 2007. Prior to amendment, Admission fee
was Rs. 10,00,000/- vide Exchange Circular Ref. No. MCX/149/06 dated April 06, 2006, Rs. 7,50,000 vide Exchange Circular
Ref. No. MCX/245/2005 dated July 4, 2005.
6
Inserted vide Exchange Circular Ref. No. MCX/MEM/262/2007 dated July 27, 2007.
7
Increased vide Exchange Circular Ref. No. Ref. No. MCX/MEM/026/2007 dated January 17, 2007 . Prior to amendment, the
Initial Security Deposit for Deposit Based was Rs. 50,00,000/- vide Exchange Circular Ref. No. MCX/149/2006 dated April 6,
2006, Rs. 30,00,000/- vide Exchange Circular Ref. No. MCX/245/2005 dated July 4, 2005.
8
Increased vide Exchange Circular Ref. No. MCX/MEM/026/2007 dated January 17, 2007. Prior to amendment, the Initial
Security Deposit was Rs. 15,00,000/- vide Exchange Circular Ref. No. MCX/149/2006 dated April 6, 2006, Rs. 7,50,000/- vide
Exchange Circular Ref. No. MCX/245/2005 dated July 4, 2005.
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cum-
Clearing
Member
[Rs.
7. Annual subscription
{A member is required to pay annual subscription in advance
latest by April 30 of every year as under:
4
e) Trading -cum- Clearing Member Rs. 75,000/f) Professional Clearing Member Rs. 1,00,000/g) Institutional
1,00,000/-
Trading
cum-
Clearing
Member
Rs.
Increased vide Exchange Circular Ref. No. MCX/MEM/026/2007 dated January 17, 2007. Prior to amendment, the Initial
Security Deposit for Professional Cum Trading Member was Rs. 50,00,000/- vide Exchange Circular Ref. No. MCX/245/2005
dated July 4, 2005.
2
Amended vide Exchange Circular Ref. No. MCX/MEM/026/2007 dated January 17, 2007. Prior to amendment, the Initial
Security Deposit for Institutional Trading Cum Clearing Member was Rs. 50,00,000/- inserted vide Exchange Circular Ref. No.
MCX/245/2005 dated July 4, 2005.
3
Business rule 6A inserted vide Exchange Circular Ref. No. MCX/245/2005 dated July 4, 2005.
4
Modified from time to time as per Circular No. MCX/MEM/026//2007 dated 17/1/07 w.e.f. 1/4/07, Earlier modified vide
circular No. MCX/149/2006 dated 6/4/06 w.e.f. 15/4/06 and Circular No. MCX/157/2006 dated 12/4/2006 w.e.f. 1/5/2006.
5
Inserted as per Circular No.MCX/MEM/262/2007 dated 27/7/2007
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1.2
1.3
1.4
Body Corporate
Amended vide Exchange Circular Ref. No. MCX/MEM/181/2012 dated May 4, 2012 read with Exchange Circular Ref. No.
MCX/MEM/92/2012 March 15, 2012.
1
Amended vide Exchange Circular Ref No. MCX/MEM/151/2007 dated April 20, 2007 read with Exchange Circular Ref No.
MCX/150/2006 dated April 6, 2006.
2
Amended vide Exchange Circular Ref. No. MCX/MEM/181/2012 dated May 4, 2012 read with Exchange Circular Ref. No.
MCX/MEM/92/2012 March 15, 2012
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a)
Amended vide Exchange Circular Ref No. MCX/MEM/151/2007 dated April 20, 2007. Prior to amendment Exchange Circular
Ref No. MCX/150/2006 dated April 6, 2006, reads as under transfer of membership to a company or concern belonging to one or
more of the existing DPG constituents not resulting into change in dilution of DPG holding/ transfer of membership to a
company or concern belonging to one or more of the existing DPG constituents resulting into change in dilution of DPG holding
below 51%/ transfer of membership to another entity (other than subsidiary / holding/ sister/ associate company or concern
belonging to one or more of the existing DPG constituents after lock in period prescribed by Exchange)
2
Amended vide Exchange Circular Ref No. MCX/MEM/151/2007 dated April 20, 2007 read with Exchange Circular Ref No.
MCX/150/2006 dated April 6, 2006. Prior to amendment Exchange Circular Ref No. MCX/150/2006 dated April 6, 2006, reads as
under transfer of membership to a company or concern belonging to one or more of the existing DPG constituents not resulting
into change in dilution of DPG holding/ transfer of membership to a company or concern belonging to one or more of the
existing DPG constituents resulting into change in dilution of DPG holding below 51%/ transfer of membership to another entity
(other than subsidiary / holding/ sister/ associate company or concern belonging to one or more of the existing DPG constituents
after lock in period prescribed by Exchange)
3
Amended vide Exchange Circular Ref. No. MCX/MEM/138/2012 dated April 11, 2013. Also Refer to Business Rule 5.12.
14
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1.
Transmission of Membership
Clause 8A has been inserted as per Circular No. MCX/MEM/420/2007 dated 13/11/2007
15
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5.
6.
Amended vide Exchange Circular Ref. No. MCX/MEM/138/2012 dated April 11, 2013. Also Refer to Business Rule 5.12.
16
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Nomination of Membership
Business Rule 8C inserted vide Exchange Circular Ref. No. MCX/476/2006 dated November 9, 2006
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Business Rule 8C inserted vide Exchange Circular Ref. No. MCX/476/2006 dated November 9, 2006
Business Rule 8C inserted vide Exchange Circular Ref. No. MCX/476/2006 dated November 9, 2006
Business Rule 8D inserted vide Exchange Circular MCX/150/06 dated April 6, 2006 and amended vide Exchange Circular Ref.
No. MCX/MEM/151/2007 dated April 20, 2007
3
18
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PARTICULARS
PROCESSING
CHARGES
Amended vide Exchange Circular Ref. No. MCX/MEM/151/2007 dated April 20, 2007. Prior to amendment, the clause read as
under:
Where the change does not result in dilution of DPG holding below 51% , Processing Fee Rs. 5000, Fee Rs. 25,000 vide
Exchange Circular Ref. No.: MCX/150/2006 dated April 6, 2006.
2
Amended vide Exchange Circular Ref. No. MCX/MEM/151/2007 dated April 20, 2007. Prior to amendment, the clause read as
under:
Where the change results into change of DPG constituents but not resulting into change of shareholding/sharing pattern,
Processing Fee Rs. 5000, Fee Rs. 50,000 vide Exchange Circular Ref. No.: MCX/150/2006 dated April 6, 2006.
3
Business Rule 8D inserted vide Exchange Circular Ref. No.: MCX/150/2006 dated April 6, 2006 and amended vide Exchange
Circular Ref. No. MCX/MEM/151/2007 dated April 20, 2007.
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Business Rule 8D (7) inserted vide Exchange Circular Ref. No. MCX/MEM/132/2008 dated April 15, 2008.
Business Rule 8D (8) inserted vide Exchange Circular No. MCX/MEM/92/2012 dated March 15, 2012 read with Circular No.
MCX/MEM/181/2012 dated May 04, 2012.
2
3
Business Rule 8E inserted vide Exchange Circular Ref. No. MCX/MEM/151/2007 dated April 20, 2007.
Business Rule 8 E(4) inserted vide Exchange Circular Ref. No. MCX/MEM/92/2012 dated March 15, 2012 read with Exchange
Circular Ref. No. MCX/MEM/181/2012 dated May 04, 2012.
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8F Change of Name
[a.
Business Rule 8F inserted vide Exchange Circular Ref. No. MCX/MEM/92/2012 dated March 15, 2012 read with Exchange
Circular Ref. No. MCX/MEM/181/2012 dated May 04, 2012.
2
Business Rule 8F(2) inserted vide Exchange Circular Ref. No. MCX/166/06 dated April 18, 2006.
3
Amended as per Circular No.MCX/MEM/189/2008 dated 3/6/2008
4
Business Rule 9(a) substituted vide Exchange Circular MCX/MEM/171/2014 dated May 2, 2014. Prior to amendment, Business
Rule 9(a) read as under:
A Trading-cum-Clearing Member desirous of surrendering the membership shall before making an
application for surrender of membership comply with the following:
i. Intimate all his clients/ constituents regarding surrender of membership at least 21 days prior to date of
application of surrender of membership of the Exchange.
ii. Ensure that his open positions as on the date of the application are nil.
iii. Ensure that there are no pending dues towards the Exchange, clients and Forward Markets Commission.
iv. There are no pending disciplinary proceedings against him from the Exchange or Forward Markets
Commission.
v. There are no investor complaints/ arbitrations pending against the member.
Earlier amended vide Exchange Circular Ref. No. MCX/MEM/189/2008 dated June 3, 2008.
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arbitrations
b.
c.
d.
e.
f.
Omitted vide Exchange Circular Ref. No. MCX/MEM/171/2014 dated May 2, 2014. Before omission, Business Rule 9(b) read
as under:
The member has to make an application for surrender of membership in the prescribed format of the Exchange
(Annexure XX of the Business Rules) along with necessary documents. The application for surrender includes a
request for deactivation also.
Earlier amended vide Exchange Circular Ref. No. MCX/MEM/189/2008 dated June 3, 2008.
2
Documents available at the following path: www.mcxindia.com
3
Amended vide Exchange Circular Ref. No. MCX/MEM/181/2012 dated May 4, 2012 read with Exchange Circular Ref. No.
MCX/MEM/92/2012 March 15, 2012. Prior to amendment, Business Rule 9(f) read as under:
On approval of the surrender request, the exchange will intimate the same to the member.
Earlier amended vide Exchange Circular Ref. No. MCX/MEM/189/2008 dated June 3, 2008
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Business Rule 9(g) (i) substituted vide Exchange Circular Ref. No. MCX/MEM/245/2014 dated July 11, 2014,. Before
amendment, Business Rule 9(g)(i) read as under:
who did not activate trading at all, refund after 6 (six) months from the date of issue of advertisement by the
Member/Exchange with respect to surrender of membership; or
Earlier amended vide Exchange Circular Ref. No. MCX/MEM/171/2014 dated May 2, 2014, Exchange Circular Ref. No.
MCX/MEM/138/2013 dated April 11, 2013 (clause VIII), Exchange Circular Ref. No. MCX/MEM/215/2012 dated June 12, 2012
and Exchange Circular Ref. No. MCX/MEM/189/2008 dated June 3, 2008.
2
Business Rule 9(g) substituted vide Exchange Circular MCX/MEM/245/2014 dated July 11, 2014. Prior to substitution, Business
Rule 9(g) read as under:
The Deposit(s) lying with the Exchange will be refunded to the Member, in the following manner:
(i) who did not activate trading at all, refund after 6 (six) months from the date of issue of advertisement by the
Member/Exchange with respect to surrender of membership; or
(ii) who have activated trading, refund after 3 (three) years from the date of issue of advertisement by the
Member/Exchange with respect to surrender of membership.
subject to approval of surrender of membership from the Exchange, Forward Markets Commission (FMC) and
fulfillment of all dues / compliances under the Bye-Laws, Rules and Business Rules of the Exchange, Forward Markets
Commission and circulars issued thereunder.
However, the said Deposit(s) may be retained beyond stipulated period, if there any unfulfilled obligations including
arbitration claims, investor complaints, other grievances / claims, disciplinary action etc. against the Member which
comes to the notice of the Exchange, before the stipulated period of release of the Deposit..
Earlier amended vide Exchange Circular Ref. No. MCX/MEM/138/2013 dated April 11, 2013 (clause VIII), Exchange Circular
Ref. No. MCX/MEM/215/2012 dated June 12, 2012, and Exchange Circular Ref. No. MCX/MEM/189/2008 dated June 3, 2008.
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k.
10.
Insurance
The members shall be required to obtain insurance cover at
their own cost, as per directions issued by the Exchange so as
to protect themselves from risks and hazards relating to their
business operations at the Exchange.
10A. Authorised Persons
ii.
Business Rule 9(i) substituted vide Exchange Circular MCX/MEM/171/2014 dated May 2, 2014. Prior to amendment, Business
9(i) read as under:
The member shall be required to replace/renew the maturing non-cash component of the initial security deposit
suitably till the release of initial security deposit by the exchange.
Earlier amended vide Exchange Circular Ref. No. MCX/MEM/215/2012 dated June 12, 2012 and Exchange Circular Ref. No.
MCX/MEM/189/2008 dated June 3, 2008.
2
Revised vide Exchange Circular No.MCX/MEM/044/2012 dated 02/02/2012 pursuant to the revised guidelines issued by the
FMC vide letter No. 6/3/2008-MKT-II dated January 11, 2012; New clause inserted vide Exchange Circular
No.MCX/MEM/282/2010 dated 07/08/2010 pursuant to the FMC Circular No.6/3/2008-MKT-I dated 28/07/2010.
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iv.
b)
ii.
c)
d)
Eligibility Criteria
a)
Individuals
An individual is eligible
Authorized Person if he:
to
be
appointed
as
Business Rule 10A(iii)(d) inserted vide Exchange Circular Ref. No. MCX/MEM/230/2012 dated June 25, 2012
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i.
is a citizen of India;
ii. is not less than 18 years of age;
iii. has not been convicted of any offence involving
fraud or dishonesty;
iv. if he has been suspended or barred by any
Stock or Commodity Exchange for a period of
more than six continuous calendar months, a
period of three years must elapse from the date
of completion of the period of suspension
before he is considered for a reappointment as
an Authorized Person;
v.
vi.
c)
ii.
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Infrastructure
The Authorized Person must have necessary
infrastructure,
viz,
adequate
office
space,
equipment,
manpower
and
such
other
infrastructural facilities, which the Exchange may
prescribe from time to time, to effectively discharge
the activities on behalf of the Member.
v.
Conditions of Appointment
a)
b)
c)
d)
The
Authorized
Person
shall
receive
his
remuneration- fees, charges, commission, salary
etc. for his services only from the Member of which
it is an Authorized Person and he shall not charge
any amount under whatever head from the clients of
the Member.
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vi.
e)
f)
g)
Withdrawal of Approval
Person
may
be
a)
b)
c)
d)
e)
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b)
c)
d)
e)
f)
g)
h)
Business Rule 10A(vi)(e) inserted vide Exchange Circular Ref. No. MCX/MEM/230/2012 dated June 25, 2012
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i)
j)
k)
l)
m)
n)
Business Rules
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i.
ii.
whom
the
v.
vi.
or
constitution
of
c)
d)
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i.
ii.
Inserted as per Exchange Circular No.MCX/COMP/488/2009 dated 27/11/2009 pursuant to the directions issued by the FMC
vide its letter no. 7/1/2008-MKT-II dated October 30, 2009
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ii)
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iii)
In case of high value of transactions,
obtaining information on the purpose and
intended nature of the business relationship;
iv)
Companies
having
close
family
shareholdings or beneficial ownership
Non-face-to-face clients
Non resident clients
High Networth clients,
Trusts, Charities, NGOs and organizations
receiving donations
Politically exposed persons (PEP) of foreign
origin
Clients in high risk countries (where
existence
/
effectiveness
of
money
laundering controls is suspect, where there
is unusual banking secrecy, countries active
in narcotics production, countries which are
perceived to be sponsors of international
terrorism, offshore financial centers, tax
havens, countries where fraud is highly
prevalent)
Clients with dubious reputation as per public
information available.
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Monitoring of Transactions
i.
ii.
Tracking
and
Transactions
Reporting
Suspicious
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They
should
have
appropriate
internal
procedures
for
reporting
of
suspicious
transactions. Indicative list of circumstances/
profile of the customer is indicated below to
serve as a guidance to the Member/
Intermediary for recognizing them:
a)
iv.
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Members
may
refer
to
our
Circular
No.
MCX/COMP/401/2009 dated October 1, 2009 with
respect to dealings in cash.
b. Suspicious
Transaction
Reports:
Every
Member/Intermediary shall furnish to FIU-IND
information of all suspicious transactions whether or
not made in cash. Suspicious transaction means a
transaction whether or not made in cash which, to a
person acting in good faith
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v.
1
2
Inserted vide Exchange circular no. MCX/COMP/102/2014 dated March 26, 2014.
Inserted vide Exchange circular no. MCX/COMP/302/2013 dated September 05, 2013.
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11.
Deposit
a)
b)
1. Cash
2. Cash Equivalent:
a. Bank Guarantee (BG) with approved bank
b. Fixed Deposit Receipt (FDR) with approved bank
3. Approved securities as defined under section 2(h) of
SC(R) Act, 1956 in demat form with the approved
custodian(s) of the Exchange.
4. Warehouse receipt(s) of approved commodities issued
by designated warehouse/ vault.
Amended vide Circular No.MCX/258/2005 dated 18/7/2005 w.e.f. 18/7/2005. Earlier Amended vide Circular
No.MCX/227/2005 dated 17/6/2005 and Circular No.MCX/090/2005 dated 8/3/05.
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ii.
B.
in
the
form
of
C.
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(b)
Additional Deposit
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42
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ibid
43
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44
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45
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[v.
The securities that are accepted by MCX
towards collateral are divided into two Groups;
Group 1 consisting of those securities that are
either included in the NSE NIFTY or the BSE-100
and Group 2 consisting of all the other securities
which are acceptable as collateral. Securities
included in Group 1 suffer a haircut of 30% and are
subject to a maximum value of Rs 5 crore per
security while those included in Group 2 suffer a
haircut of 45% and subject to a maximum value of
Rs 2 crores.
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Custodian charges
i.
ii.
ii)
1
2
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v)
a)
b)
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b)
c)
ii)
Marking of pledge
Members along with joint holders, if any, may
deposit the WR(s) of the approved commodities with
the Exchange by marking a pledge in favour of the
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Warehouse
Receipt
(WR)
of
approved
commodity duly pledged along with valid
quality certificate.
ii)
Valuation
i)
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of the said
f)
i)
ii)
53
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b)
v)
13.
Trading Days:
Trading Hours:
Timings
10.00
Monday to
Friday
Saturday
b.
A.M.
Commodities
to
All Commodities
05.00 P.M
05.00 P.M.
11.30 P.M.
Commodities
to All
except
Agricultural
Commodities
10.00 A.M.
2.00 P.M.
to
All Commodities.
15.
Trading Parameters
a) Base Price: At the time of making a contract available for
trading on the system, the Exchange will decide its base
price, which will be a notional price based on the spot
market price of that commodity on the previous day and a
notional carrying cost. However, this is done only on the
first day of commencement of trading in a contract. For all
subsequent days, the base price is taken as equal to official
closing price of a contract for the previous trading day.
1
13 to 15(b) have been amended as per Circular No.MCX/160/2004 dated 6/12/04 w.e.f 6/12/04
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an
an
all
on
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(a) The Exchange may launch more than one order book
running either parallel or at different time spans, either
with the same order matching rules or with different
matching rules. The Exchange is also entitled to modify or
change the matching rules relevant to any market or
order books any time where it is necessary to do so.
(b) Without prejudice to the generality of the above, the order
matching rules will have the following features:
Orders in the Normal market will be matched on price
-time priority basis.
Best buy order shall match with the best sell order.
(The best buy order would be the one with the
highest price and the best sell order would be the
one with the lowest price.)
18.
Margin requirements
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Amended Rule 18 (c) (i) and (ii) as per Circular No. MCX/164/04 dated 7/12/04. w.e.f.7/12/04.
Amended earlier vide Circular No. MCX/344/05 dated 15/10/05, w.e.f 17/10/05. Earlier amended vide circular no.
MXC/090/05 dated 8/3/05.
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(b)
1
2
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a)
b)
c)
Initial
margin
computation
using
SPAN
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Details of SPAN
The calculations in SPAN are executed by the Exchange/
Clearing House and results of these calculations are
called Risk arrays. Risk arrays, and other necessary data
inputs for margin calculation are then provided to
members in a file called the SPAN Risk Parameter file
(RPF).
Members can apply the data contained in the Risk
parameter files, to their specific portfolios of contracts,
to determine their SPAN margin requirements.
SPAN will estimate risk of portfolios, and re-value the
same under various scenarios of changing market
conditions.
iii.
Risk Arrays
The SPAN risk array represents how a specific derivative
instrument will gain or lose value, from the current
point in time to a specific point in time in the near future
(typically it calculates risk over a one day period called
the look ahead time), for a specific set of market
conditions which may occur over this time duration.
The specific set of market conditions evaluated, are
called the risk scenarios, and these are defined in terms
of:
(a) How much the price of the instrument is expected to
change over one trading day, and
(b)How much the volatility of that price is expected to
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down
13. Price down by 3/3 of price scanning range;
volatility up
14. Price down by 3/3 of price scanning range;
volatility down
15. Price up extreme move, double the price
scanning range (cover 35% of loss)
16. Price down extreme move, double the price
scanning range (cover 35% of loss)
SPAN uses the risk arrays to scan probable Price
market price changes and probable volatility changes
for all contracts in a portfolio, in order to determine
value gains and losses at the portfolio level.
As stated above, SPAN starts at the last Price
settlement/ market price and scans up and down
three even intervals of price changes (price scan
range).
After scanning of 16 different scenarios of Price
settlement/ market price and volatility changes,
SPAN selects the largest loss from among these 16
observations. This "largest reasonable loss" is the
Scanning Risk Charge for the portfolio
iv.
v.
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Clearing Banks
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20.
Clearing House
(a)
Regulation
of
clearing
house: The
Exchange Clearing House will monitor and perform all
activities relating to delivery, funds settlement,
margining, managing the settlement guarantee fund,
etc.
(b)
(c)
(d)
Lien
on
Members
deposits
and
deliveries: When a member is declared a defaulter, all
deposits, margins, delivery documents and other assets
of such defaulter member lying with the Exchange shall
be under lien and first charge of the Exchange,
irrespective of the fact whether such assets or deposits
belong to the member or his clients. No client or any
other person can claim any charge or right on any such
deposit, margin or delivery documents under any
circumstances.
(e)
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(g)
(h)
Delivery
and
payment
through
Custodians and Clearing Members: The Clearing
House shall maintain a register of Custodians, Banks,
Trust Companies and other firms approved by the
Executive Committee which may act for members and
their constituents in giving and taking delivery of
precious metals.
(i)
(j)
(k)
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21.
Delivery Procedure
(a)
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(c)
(d)
(e)
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will
of
not
the
the
75
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(o)
(p)
76
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(q)
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(w)
(x)
(y)
(z)
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A. List of Documents:
1) The buyer member to submit his intention to take
delivery along with the details of his client based
on which the Exchange will mark delivery on
priority basis.
2) The seller member is required to submit tender
notice along with documentary evidence such as
warehouse receipt and quality certificate to the
effect that the seller is holding the goods at the
time of giving tender notice.
3) The buyer member is to submit the sales tax/VAT
registration number, name and address of buyer
etc. for the purpose of raising the invoice by the
seller.
4) The seller member to submit invoice favouring
buyer member/buyer members client.
1) Instructions:
i. Compliance on the part of the buying
member
1. The buyer member is required to submit his
intention in the specified format to take
delivery on the expiry date of the contract in
case of Both Option contract and on the
respective tender days in case of sellers
Option and Compulsory Delivery contract by
3.00p.m. (Specified format is enclosed in
Annexure-I)
2. The buyer member is required to furnish the
details of his client i.e name and client code
to whom the marking of delivery will take
place before delivery marking date failing
which Exchange will mark delivery on its
own.
3. The buyer member requires to furnish
further details of his client such as name,
address, and sales tax/VAT registration
number along with the intention on the
scheduled date and time in case of Both
Option contract to enable the seller member
to raise/issue invoice on the pay out date. If
he fails to furnish these details at the time of
giving intention then his intention to take
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3)
4)
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Sr.
No.
Activities
Date and
time.
Date and
time
(For Both
Option
contract)
(For
Sellers
Option &
Compulsor
y Delivery
Contract)
Submission of intention
and tender notice in the
specified format by the
buyer and seller
respectively along with
the required details such
as the client to whom
delivery will be marked
On the expiry
day i.e. E day
On the
tender days.
Submission of clients
details such as the name,
address Sales Tax/VAT
registration number, a
copy of form no. C if
applicable etc. by the
buyer.
On the expiry
day i.e. E day
On tender
days at the
time of
giving
intention or
before pay
in (funds)
day.
Seller to be informed
about the client details of
the buyer by the
Exchange to issue
invoice.
E+1 working
day
E+1
working day
or on pay in
of funds day
On E+3
working day
before
11.00a.m.
On E+3
working day
before
11.00a.m.
One day
before lifting
the delivery.
One day
before
lifting the
delivery.
Settlement of funds
towards sales tax/VAT,
CST and any other taxes
as applicable.
E+4 working
day by
3.00p.m.
E+4
working day
by 3.00p.m.
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Seller
/
Buyer
Seller
Seller
Buyer
Default
activities
Penalt
y
amou
nt in
Rs.
10/-
Delay in
issuing
invoice
Sale without
2000/having local
sales tax
registration
or through
commission
agent
Submission of 10/tax
exemption
form but not
eligible for
the same
Computat
ion of
penalty
Per day of
default
Per event
Per day of
default
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Buyer/ Non
2000/Seller furnishing of
required
documents as
mentioned
above
(except the
documents as
mentioned in
serial number
1, 2, 3 ) on
time
Per event
Approved Surveyors
(a)
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(c)
(d)
(e)
(f)
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(h)
(i)
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(k)
(l)
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24.
Surveillance:
(b)
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(ii)
Amended as per Circular No. MCX/344/05 dated 15/10/05, w.e.f 17/10/05. Earlier amended vide Circular No.MCX/090/05
dated 8/3/05.
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[(e)
i.
(Per
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Charge
message)
NIL
1 paise
(Per
3 paise
5 paise
8 paise]
Amended vide Circular No.MCX/MEM/400/2008 dated 18/12/2008 w.e.f.01/01.2009. Earlier amended vide Circular
No. MCX/26/2007 dated 17/1/07 w..e.f. 1/4/07. Earlier amended vide circular No.MCX/228/2005 dated 18/6/05 w.e.f.1/8/05,
Circular No.MCX/124/05 dated 31/3/05 w.e.f.1/4/2005, Circular No.MCX/182/2004 dated December 29, 2004 w.e.f.1/1/2005
and Circular No.MCX105/2004 dated 30/9/2004 w.e.f. 1/10/2004.
Amended vide Circular No.MCX/MEM/277/2010 dated 4/8/2010 w.e.f. 01/04/2010.
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Transaction fee
rates
Rs. 2.50
Rs. 1.25
Rs. 1.00
Reports
A member can take back up of his trades any time during the
trading session or after its closure while he is connected to
the trading system. This provides all trades done during such
trading session, but does not provide any position outstanding
from previous session. But, after end of trading session, the
Exchange will download the following reports to the members
of the Exchange through FTP (File transfer protocol), which
consists of full report of all his earlier position, todays trades
and net outstanding position. This report is named as
Obligation Report, which also provides details of total deposit
of that member, deposit utilized, deposit available for trading,
pay in / pay out amount, transaction fee, charges, etc. The
Exchange also downloads the Bhav Copy to provide details
about open, high, low, close, volume, value and other
statistical details.
3
Revised vide Circular No.MCX/C&S/417/2009 dated 17/10/2009 w.e.f. 02/11/2009. Earlier revised vide Circular
No.MCX/C&S/353/2008 dated 6/11/2008 w.e.f. 17/1//2008, Circular No. MCX/C&S/172/2007 dated 3/5/2007 w.e.f.1/5/2007.
Earlier amended vide Circular No.MCX/C&S/122/2007 dated 2/4/2007 w.e.f. 2/4/2007
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(j)
[.
(m) ..]
(n) The Exchange Member shall not accumulate or withhold
Constituents order/ unexecuted balances for contracts
listed in the Exchange, if he has adequate margin of such
1
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1
2
(p)
(q)
(r)
(s)
98
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i.
ii.
Member
iii.
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iv.
(t)
100
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1
2
101
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(y)
Amended vide Exchange Circular No. MCX/COMP/046/2011 dated 23/02/2011 and Circular No.MCX/COMP/ 256/2011 dated
20/07/2011 pursuant to the directions issued by the FMC vide its letter No. FMC/COMPL/IV/ 2010/03/05/00011 dated 19/04/
2011 and also 02/02/2011.
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ii.
iii.
iv.
v.
1
2
3
Amended vide Exchange Circular No. MCX/COMP/052/2012 dated 14/02/2012 w.e.f. 01/04/2012 pursuant to the directions of
FMC vide letter dated 02/02/2012.
Amended vide Exchange Circular No. MCX/COMP/226/2013 dated 26/06/2013 pursuant to the directions of FMC vide letter
dated 25/06/2013.
Inserted vide Exchange Circular No: MCX/COMP/192/2013 dated 24/05/2013 pursuant to the
directions of FMC vide
letter 20/05/2013.
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1
2
Inserted new clause vide Exchange Circular No. MCX/COMP/348/2011 dated 4/10/2011 pursuant to the directions of FMC
vide letter no. FMC/COMPLT/CIRCULAR dated 27/09/2011.
Inserted new clause vide Exchange Circular No.MCX/COMP/358/2011 dated 11/10/2011 pursuant to the directions of FMC
vide letter no. 9/1/2011-MKT/1 dated 26/09/2011.
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105
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106
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vii)
viii)
ix)
x)
Lead
Chana
Wheat
Mentha Oil
FORM-A
Long Position
Holder
Short Position
Holder
Applicant/Counterpa
rty
CM Code & Name
TM Code & Name
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Contract Details
No. of lots to be
Closed & Price
Details of Corresponding Physical Transaction
Details of Cash
Market Transaction
Long
Position Short
Position
Holder (Buyer)
Holder (Seller)
Applicant/Counterpa
rty
Trade Date
Name of the
Commodity
Description of the
Quality
Trade Quantity
Trade Price
Trade Value
Delivery Date
Delivery
Location
and
Address
of
Warehouse/s
Enclosed Supporting
Documents by the
Applicant
I/We understand that the function of MCX in respect of the physical
transfer between the parties to this physical contract and/or the
parties intending to enter into this physical contract as mentioned
above shall be limited to verification of proof of intention before
approval of the request for execution of EFP transaction.
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CLIENT UNDERTAKING
Member
Date
112
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FORM-B
Long Position
Short Position
Applicant/Counterpa
rty
CM Code & Name
TM Code & Name
Client Code, Name &
Address
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Contract Details
No. of lots to be
Opened & Price
Details of Corresponding Physical Transaction
Details of Cash
Market Transaction
Long
Position Short
Position
Holder (Buyer)
Holder (Seller)
Applicant/Counterpa
rty
Trade Date
Name of the
Commodity
Description of the
Quality
Trade Quantity
Trade Price
Trade Value
Delivery Date
Delivery
Location
and
Address
of
Warehouse/s
Enclosed Supporting
Documents by the
Applicant
I/We understand that the function of MCX in respect of the physical
transfer between the parties to this physical contract and/or the
parties intending to enter into this physical contract as mentioned
above shall be limited to verification of proof of intention before
approval of the request for execution of EFP transaction.
I/We further undertake that the responsibility, risks and
enforcement of settlement of this physical contract/intention to
contract shall lie with me/us and the counter party to this physical
contract/intention to contract.
I/We shall not hold the Exchange liable for any loss or damage
caused to me/us in relation to this physical contract/intention to
114
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Member
Date
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CHAPTER III
TRADING SYSTEM
29. Trading System
i.
ii.
iii.
iv.
v.
vi.
Business Rules
___________________________________________________________________________________________________
vii.
Approved Users
1
Amended vide Circular No. MCX/010/2005 dated 11/1/05. Earlier amended vide circular No. MCX/039/2004 dated 7/6/04.
Formats Modified vide Circular No.MCX/395/2006 dated 16/9/2006
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Connectivity
Indoor equipments
The Indoor equipment should be located such that they
are protected from dust, corrosive fumes, heater,
radiators and direct sunlight.
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site survey
installation
transportation
commissioning
of VSAT
antenna
and
RFT
equipment
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charges
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CHAPTER IV
INSPECTION AND DISCIPLINARY ACTIONS
35. Records, Books of accounts and Inspection
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the
circulars,
1
2
Violation
Margin
amount
x
1%
(subject to a minimum of
Rs. 500)
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c.
2.
Default
in
the
payment of
deficit
margin,
(margins
over
utilized
on
Trading day), before
close of the banking
hours
on
T+1
working day.
Penalty for failure to
complete money pay in
till end of day (banking
hours)
3.
Violation of Maximum
allowable open position
limit or not reducing his
position in spite of
warning
by
the
Exchange
4.
Failure
to
pay
subscription and other
dues to the Exchange
Modified as per Circular No.MCX/C&S/200/2007 dated 29/5/2007 for the words Rs.500/-.
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5.
Wrong declarations by
the member
6.
Non-submission
of
information / documents
7.
8.
9.
10.
Appointment of a User
without prior permission
of MCX
11.
[1.
As
per
the
norms
prescribed by FMC.
The case will be reported
by
the
Surveillance
department
and
the
Executive Committee will
have
the
authority
to
decide
fines,
penalties,
withdrawal of trading and
clearing rights, etc. as it
may think fit.
Fine as may be decided by
the Executive Committee,
subject to a minimum of Rs.
5000.
As may be decided by the
Board of MCX
Inserted as per Circular No.MCX/300/2006 dated 1/8/2006 w.e.f. 1/8/2006 issued pursuant to the directions issued by the FMC
in its letter dated 24/7/2006.
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3.
[4.
[5.
6.
1
2
128
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Sr.
No
1
Violations
Failure of the Buyer
Member to submit
details of registered
buyer in the favour of
whom
the
Invoice
needs to be issued
within 4 working days
after
settlement
(payout)
of
the
contract.
NonCompliance
Other Charges
Charges
The
Over and above the monetary
Exchange
charges
will
levy If the buyer member fails to
charges
of submit the details, it will be
Rs.1000 per deemed that delivery is for the
instance.
buyer member. Accordingly, the
Additional
Invoice will be issued in favour
Rs.100 per of
the
buyer
member.
day will be Subsequent modification of the
charged till invoice will not be entertained.
the receipt
of details by
the
Exchange.
Inserted as per Circular No.MCX/C&S/219/2008 dated 27/6/2008. Earlier amended vide Circular No.MCX/C&S/261/ 2007
dated 24/7/2007.
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1)
Registered
Seller member
2) Registered Seller
client
3) In case of
unregistered
Seller, through
C&F Agent.
Request
from
the
Buyer member for
modification
or
change in the Invoice
already issued
Any
request
related
to
modification/ change in the
details of the Invoice may be
treated as request case and the
Exchange will not be obliged to
entertain such requests and will
act as facilitator only.
Any
request
for
modification/change
of
the
invoice raised on the Buyer
member for non-compliance in
providing the Buyer details as
mentioned in point 1 above, will
not
be
accepted
by
the
Exchange.
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[8.
ii.
b.
c.
retained
by
the
Exchange
towards
administrative expenses.
1
2
Inserted as per Exchange Circular No. MCX/029/2006 dated 21/1/2006 w.e.f. 23/1/06.
Inserted as per Exchange Circular No. MCX/C&S/068/2009 dated 11/02/2009.
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1
2
9.
10. Fines/
penalties
prescribed
for
various
violations/ non-compliances observed in the
inspection of books of accounts of the member.
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Business rule
Rule/Byelaw/
26
Regulation/
Circular
No.
Business Rules
27(a)
Bye-laws 11.5
Non-maintenance
Advice
1000/
Violations
One or Few
Multiple
of Trading
Observed
Instances
Instances
(TWS)reports
Non-execution of
Rs 500/- Per
Rs 1000/ Per
Books
of Accounts default
Member/subrepeated
Not
maintained
5000/N.A
broker
(Maximum
default
Not
maintained
2500/N.A
constituents
5000/
-) Advice (Maximum
properly
agreements
Rs 10000/ )
Execution
of
Not
maintained
for
2500/- Per OfficeRs 500/Per
N.A
member/subdefault
branch/
Sub-broker/
broker -constituent
(Maximum
franchise
agreement
Not
maintained
1500/- Per Officeof Rs.5000/
N.A
otherwise
in
-)
properly
forthan
branch/
the prescribed
Sub-broker/
franchise
format
Segregation
of
5000/- Per Office N.A
Business Rules Exchange
Non-obtainment
of Rs 250/- per
Rs 500 per
wise client
27 (b)
Client registration
case Advice
Case
ledgers
not
form (KYC form)
(Maximum
maintained
Client registrationof
of Rs.5000/
Non-maintenance
Advice
Warning
form not (entries
-) Rs 100/vouchers
completed
or posted
not
Per case
being
directly
supported
to
ledgers) by
documents
(KYC of
Non-maintenance
Advice
Warning
Form)
upto
date bank
Risk Disclosure
Rs 500/-Per
reconciliation
Business Rules statements
Document not
Rs 250/- per
default
27(c )
signed
with
client.
default
(Maximum
Registers and
of Rs.10000)
Documents
Risk
Disclosure
Advice
Rs 250/Bye-laws 11.5 Non-maintenance of
Rs 1000/-per
Rs 2500/ - Per
Document
in the of register per
(Maximum
registers
(Register
register per
prescribed
format
of
Rs.5000)
Transaction /
office
office
not signed
Register
of with
client
Commodities/
Business Rules Register
Non-obtainment
of Advice
Rs 500/-Per
of
27 (b)
board resolution
default
Complaints
/ Register
permitting
trading
(maximum
of
Margin Deposit)
in derivatives, from
of Rs.5000/
Non-availability
of
Advice
Warning
non-individual
-)
prescribed
constituentsin
information
Registers. Nonavailability of
register of
commodities
Business Rules
27 (P)
Nonmaintenance of
duplicates /
copies of
Advice
Rs 500/ Per
client
Maximum Rs
10000/
133
Business Rules
___________________________________________________________________________________________________
contract notes
Business Rules
19(c )
Business Rules
27(q)
Banking
Operations
Non
maintenance of
Client a/c
Non-segregation
of own and
client
transactions in
separate bank
accounts
Rs 10000/-
Rs 15000/
Warning
Rs 10000/
Use of Client
Warning
bank account for
purposes other
than specified
Dealings with
Clients
Circular
Commodities
No.MCX/012/200 due to
6, dated
constituents
10/01/2006
transferred to
Members
beneficiary
account without
authorization
Delay in
payment of
funds to
constituents Use
of clients funds
for own
purposes/misuse
of clients
funds/unauthoriz
ed transfer of
funds from one
clients account
to another
clients account
Commodities
due to one client
transferred to
other clients
Rs 5000/
Rs 500/ -per
default
( Maximum of
Rs.5000)
Rs 1000/ -Per
default
(Maximum of
Rs.10000)
2500/ -
5000/
134
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Delay in delivery
of commodities
and payments to
the clients Use
of constituents
beneficiary
demat account
for purposes
other than
specified
Bye-laws 5.21
Business Rules
27 (f)
Rs 500/- per
day per client
subject to
maximum
25000/(After
expiry of
scheduled pay
-out date)
Warning
Nonmaintenance of
client code / Non
maintenance of
Rs 2500/mapping of the
trading codes to
client codes
Quarterly
Rs 2500/statement of
accounts for
settlements and
margins not sent
to constituents
Partial
compliance for
issue of
statement of
accounts for
funds and
commodities
Rs 1000/ Per
day per
Repetative
Default
Rs.5,000
Rs 5000/
Rs 5000/ -
Dealings with
intermediaries
Circular No.
MCX/012/2006,
dated
10/01/2006
Sharing of
brokerage with
-another
member
Rs.2500/
Rs.5000/
-an employee of
another member
or a person for
or with whom
members are
forbidden to do
business
135
Business Rules
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-Persons who
are not
approved user
Dealing with
unregistered
intermediaries
Brokerage
charged at a
rate higher than
the
Bye-laws 4.7
Business Rules
27 ( p)
permissible
maximum limit
Doing business
with or for the
trading members
who are
prohibited to
transact,
including
suspended/expelle
d/def aulter
trading member;
defaulting
constituents and
employees of
other trading
members
Contract Notes
Non-issue of
contract notes
Issue of contract
notes otherwise
than in the
prescribed
format /issue of
contract notes
without the
signature of
authorized
signatory or
which do not bear
a running serial
number or bear a
serial number
which is not
Rs 2500/ -
Rs 5000/
136
Business Rules
___________________________________________________________________________________________________
initiated at the
beginning of each
financial year
Issue of MCX
contract notes for
transactions not
executed on the
exchange/for
fictious
transaction
Difference in
trade rate as per
the TWS system
and the rate
charged
Rule 26(b)
Circular No.
MCX/204/2005,
dated
27/05/2005
Adopting a
procedure (like
use of PRO code
for clients trades)
to evade margin
Membership
Requirements
Shareholding
pattern
Rs 5000/-
not verifiable
due to
incomplete /
absence of
records
Any change in
Rs 10000
the
shareholding
pattern / profit
sharing ratio
without the
prior approval
of the Exchange
involving
dilution not
below the
minimum
prescribed
shareholding of
the dominant
promoter group
Any other
Rs 2500/
change in the
137
Business Rules
___________________________________________________________________________________________________
Circular NO.
MCX/003/2006,
dated
03/01/2006
Circular
NO.MCX/012/20
06, 10/01/2006
shareholding
pattern / profit
sharing ratio of
the Trading
Member
without the
approval of the
Exchange
Change in the
shareholding
pattern without
the approval of
the Exchange
which has
resulted in the
dilution of the
shareholding /
profit sharing
ratio of the
dominant group
below 51%
Change in the
designated
directors
without the
prior approval
of the exchange
Violation of the
Advertisement
Code of the
Exchange.
Member acting
through or on
behalf of
another
member for
trading on the
Exchange
without the
prior approval
of the Exchange
in writing
Rs 25000/-
Rs 50000/
Rs 2500/ - per
instance
Rs.5,000 per
instance.
Dealing with
one member of
another
exchange for
proprietary
trading without
138
Business Rules
___________________________________________________________________________________________________
Circular No.
MCX/195/2006,
dated
13/05/2006
Circular No.
MCX/259/2006,
dated
29/06/2006
Business Rules
(30)
Business Rules
29 (b)
intimating the
name of such
member to MCX
Dealing with
more than one
member/subbroker of
another
exchange for
proprietary
trading Dealing
with a member
of another
exchange on
behalf of
constituents
without
necessary
registration
Non-compliance
of Networth
requirements as
per the
exchange.
Non completion
of MCCP
certification
Examination
Office
Management
Usage and
operation of a
trading terminal
by a person (an
employee of the
trading
member) other
than an
approved user
Trading
terminals
provided to
unregistered
intermediaries
or unauthorised
extension of
trading network
/ non
submission of
Rs.1000/
Rs.5000/
Rs.1000/
139
Business Rules
___________________________________________________________________________________________________
required details
of terminals to
the Exchange
Circular No.
MCX/295/2006,
dated 28th July
2006
Circular No.
MCX 207/2006,
dated 19th may
2006
Circular No.
MCX/324/2006,
dated 17th
August 2006
Rules/ Byelaws
Regulations/
Circualr No.
Bye-laws 11.5
Terminals for
which
information has
been uploaded
but with minor
errors
Non-display of
Notice Board
Non-display of
FMC/MCX
Registration
certificate
Nonappointment of
compliance
officer
Nonsubmission/
delayed
submission of
Annual
compliance
report on or
before the due
date
Violations
observed
Books
of
Accounts
Not
maintained
Notmaintained
properly
Not
maintained for
branch
Advice
Rs 1000/
Non
submission/Delayed
submission
of
Annual
Compliance Report
on or
before the due date in the
prescribed format , penalty will
be levied Rs.250/- per week.
One or few
instances
Multiple
instances
Rs.5000/-
N.A.
Rs.2500/-
N.A.
140
Business Rules
___________________________________________________________________________________________________
11.
Sr. No
1
Violation
Uniform Penalties as
prescribed by Forward
Markets Commission
a) Non-Maintenance of Minimum of Rs. 25,000/following
Books
of and
Maximum
of
Rs.
Accounts / Records / 50,000/- per register or /
Registers:
and deactivation of trading
(i) Sauda Book
terminals till compliance is
(ii) Client Ledger
done.
(iii) General Ledger
(iv) Journals
(v) Cash Book
(vi) Bank Pass Book
b)
Non-Maintenance of
the above mentioned
books/ledgers properly.
KYC Forms formalities
not maintained or /and not
maintained properly
(a)
Non-execution
member-client
agreement
141
Business Rules
___________________________________________________________________________________________________
(b)
4
5
Discrepancies
/
deviation
from
the
prescribed
memberclient agreement, if
such
discrepancies/
deviations
are
detrimental to clients
Risk Disclosure Document Rs. 5,000/- per client.
not issued to
clients/incomplete
Non-segregation of clients Rs. 25,000/- or 1% on the
money
non
segregated
client
money, whichever is higher.
10
Non-maintenance of client
code/non mapping of
trading code.
11
Non-maintenance of
duplicate copies of
contract note sent
12
13
142
Business Rules
___________________________________________________________________________________________________
14
Non-maintenance of
Grievance/Complaints
Register
15
0.1% of the
collected.
17
18
Non-display of
Information Board
including details of
Registration details as
prescribed by the
Exchange.
Unauthorized or Illegal
Trading activities /
Fictitious Transactions
16
19
margin
not
20
21
22
Violation of the
Advertisement Code of the
Exchange
Trading (TWS/CTCL)
terminals provided to
intermediaries or
unauthorized extension of
trading net work / non
submission of required
details of CTCL terminals
to the Exchange
Non-payment of statutory
dues/duties/fees etc.
143
Business Rules
___________________________________________________________________________________________________
b.
c.
1
2
Inserted vide Exchange Circular No.MCX/T&S/355/2011 dated 10/10/2011 w.e.f.17/10/2011 pursuant to the directions issued
by the FMC vide its letter No.7/3/2011-MKT-I dated 04/10/2011.
Amended vide Exchange Circular No.MCX/T&S/483/2011 dated 29/12/2011 w.e.f. 01/01/2012 pursuant to the directions
issued by the FMC vide its letter dated No. 6/12/2010-MKT-I, FMC/2/2011/C/32 dated 26/12/ 2011 and also earlier directions
from time time.
144
Business Rules
___________________________________________________________________________________________________
v.
a as % of b
< 5%
> 5%
Penalty as % of a
1 % (subject to a minimum of `
5,000/-)
2 % (subject to a minimum of `
5,000/-)
Where
a = Value (turnover) of trades in respect of which
client codes have been modified by a trading
member during a day.
b = Value (turnover) of trades of the trading member
during that day.
vi.
Business Rules
___________________________________________________________________________________________________
146
Business Rules
___________________________________________________________________________________________________
CHAPTER V
ARBITRATION
37. ABITRATION PROCEDURE
1
[1.
147
Business Rules
___________________________________________________________________________________________________
Amended pursuant to directives of the Forward Markets Commission vide its letter no. 2/3/2008- MKT-Amend-MCX dated April
24, 2012
148
Business Rules
___________________________________________________________________________________________________
2.
3.
Business Rules
___________________________________________________________________________________________________
3.4
4.
5.
(a)
150
Business Rules
___________________________________________________________________________________________________
1
2
Amount of Claim
Amount
of
Deposit
Upto Rs.5,00,000/Rs.8,000/Rs.5,00,001/to
Rs.10,000/25,00,000/above Rs.25,00,000/Rs.14,000/-
Inserted as per the Exchange Circular No.MCX/Legal/053/2008 dated 5/2/2008 w.e.f. 6/2/2008.
Amended as per Exchange Circular no. MCX/Legal/157/2013 dated 23/04/2013
151
Business Rules
___________________________________________________________________________________________________
Amount of Claim
Upto Rs.10,00,000/Rs.10,00,001/to
25,00,000/Rs.25,00,001/
and
above
Amount of
Deposit
Nil*
Rs.8,000/Rs.14,000/-
152
Business Rules
___________________________________________________________________________________________________
1
1
153
Business Rules
___________________________________________________________________________________________________
Kolkatta
Chennai
Mumbai
Member
V/s Client
&
Client V/s
Place of hearing
Business Rules
___________________________________________________________________________________________________
Member
6.
Business Rules
___________________________________________________________________________________________________
6.3
6.4
156
Business Rules
___________________________________________________________________________________________________
7.
6.5.
6.6
(a)
(b)
(c)
(d)
Business Rules
___________________________________________________________________________________________________
7.1
7.2
8.
NOTICE OF HEARING
8.2 Unless otherwise specified, the Exchange shall in
consultation with the arbitrator determine the date,
the time and place of the first hearing. Notice for
the first hearing shall be given at least three days in
advance, unless the parties, by their mutual
consent, waive the notice. The arbitrator shall
determine the date, the time and place of
subsequent hearings of which the Exchange shall
give a notice to the parties concerned.
8.3 The arbitrator/s may commence, proceed with,
continue or conclude the reference notwithstanding
any failure by a party to comply with any of the
directions of the arbitrator/s and may also proceed
with the arbitral proceedings in the absence of any
or both the parties who fail or neglect to attend at
the time and place appointed by the arbitrator/s,
inspite of due notice.
9.
ARBITRAL AWARD
9.1 The arbitral award shall be in writing and made in
three originals duly dated and signed and dated.
9.2
Business Rules
___________________________________________________________________________________________________
10.
COUNTER-CLAIM AND REPLY TO COUNTERCLAIM
The Respondent in arbitration proceedings may make a
counter-claim against the Claimant provided the
counter-claim arises under the same transaction as the
original claim. The Respondent shall submit the counterclaim if any with full details supported by all documents
and information forming the basis of counterclaim
within at or before the first hearing of the reference, but
not afterwards unless specifically permitted by arbitral
tribunal. The original Claimant may, within such period,
or within such extended time as may be permitted by
the arbitrator/s, submit a statement in reply to the
counter-claim.
11.
ETC.
Business Rules
___________________________________________________________________________________________________
12.
COMBINING OF CLAIMS
12.1
Where there are two or more applications
for arbitration and the issue involved in the
dispute arises out of similar transactions, the
Relevant Authority may, if in his opinion it is
proper to do so, with the consent of the parties, fix
the hearings of the disputes to be heard jointly or
refer the applications for separate hearings where
the parties do not so consent.
12.2 Where the applications are heard jointly, the
awards, however, shall be given separately for
each reference.
13.
14.
LANGUAGE
The language of the arbitration proceedings and the
award shall be English. If any documents filed by the
parties are in a language other than English, the party
filling such documents shall simultaneously furnish an
English translation of the documents.
15.
INTERPRETATION
For the purpose of this clause
i. Relevant Authority means Managing Director or
Deputy Managing Director 1{or any officer(s)
authorized by the Managing Director or Deputy
Managing Director.}
ii. Applicant is the person who filed the claim for
arbitration.
iii. Respondent is the person against whom the claim has
been made by the Applicant including any person
made a party by virtue of this Business Rule.]
**********
160
Business Rules
___________________________________________________________________________________________________
161
Business Rules
___________________________________________________________________________________________________
ANNEXURES
Annexure I
Membership Application
Please read the terms and conditions, guidelines and notes
carefully before filling-up the application form.
Please attached all relevant documents along with this
application.
Please use additional sheets to furnish information wherever
necessary.
Multi Commodity Exchange of India Ltd. or The Exchange or
MCX has been used interchangeably unless otherwise
specified.
Terms and conditions for seeking Trading
Membership (TM) of MCX
1) A Trading Member means a person having been admitted as
such, who shall have rights to trade on his own account as
well as on account of his clients, but shall have no right to
clear and settle such trades himself. All such trading members
must be affiliated with any one of the Institutional Tradingcum-Clearing Member (ITCM) or Professional Clearing
Member (PCM) having clearing rights on the Exchange.
2) An applicant shall be an Indian national
3) The applicant shall submit the application form (part-A) along
with an amount as specified in clause 10 of the application
form. This amount has to be remitted to our Mumbai office by
the way of demand draft favouring Multi Commodity
Exchange of India Ltd payable at Mumbai along with the
following document, (duly attested by the applicant), which
are a part of the Membership criteria:
a) Proof of educational qualifications of the authorised
signatories,
b) Proof of experience of the authorised signatories.
c) Proof of age and address of the applicant(s) or the
authorized signatories in case of Registered Partnership
Firm / Corporates (e.g. Passport, driving license, election
ID card etc.),
d) Networth Certificate not older than 6 months along with
statement issued by Chartered Accountant,
Net worth Criteria:
i) Individuals / Registered Partnership Firms / HUF :
Rs.10 lakh
162
Business Rules
___________________________________________________________________________________________________
ii) Corporates :
Rs.
25 lakh
e) In case of a Partnership firm certified copies of Firm
Registration
Certificate,
Registered
Partnership
Agreement, undertaking from all partners authorizing the
Managing Partner, sharing pattern and details of Dominant
Promoter Group (DPG)
f) In case of a Corporates, Board Resolution seeking
membership of the Exchange and for appointment of
authorized signatories and authorized persons, certified
copy of Memorandum and Articles of Association,
shareholding pattern and details of Dominant Promoter
Group (DPG)
g) Form MR
h) Undertaking for Debarred / Suspended / Default
i) Certified copy of PAN card
j) All applications shall come with a recommendation letter of
the ITCM or PCM for registration of their applicants as
Trading Members of MCX.
k) Any other document which may be required by the
Exchange.
4) The applicant shall be interviewed by the Exchange and in
case corporate, the authorised signatories shall attend the
interview.
5) On confirmation by the Exchange, the applicant shall remit
the balance amount, if any, within 15 days from the date of
intimation about the decision of the Exchange, appointing the
said person as a Member of he Exchange. The payment shall
be made by way of demand draft favouring Multi Commodity
Exchange of India Ltd. Payable at Mumbai.
Business Rules
___________________________________________________________________________________________________
A) Admission Fees*
B) Security Deposit
164
Business Rules
___________________________________________________________________________________________________
165
Business Rules
___________________________________________________________________________________________________
Office Address
2.
City
State
Pin code
Telephone No.
Fax No. (With STD Code)
Email
Name Of the Contact
Person (s)
Mobile No.
Signature (1) :______________________________
______________________
Rubber Stamp :
3.
4.
5.
Constitution
6.
Signature (2) :
Rubber Stamp :
Individual/ Registered
Partnership Firm/
Private Ltd Co./HUF/
Public Ltd Co. /
Others
7.
Name
Designation
Tel. No.
Fax No.(with STD Code)
Mobile No.
166
Business Rules
___________________________________________________________________________________________________
Email ID
8.
9.
Name and branch address
Account No.
Account is operational since
10
Present business/ occupation
.
11
Present Net worth
.
Rs........................
Lakh as
on..........................
Signature (2) :
Rubber Stamp :
Rubber Stamp :
167
Business Rules
___________________________________________________________________________________________________
Yes/ No
Yes/ No
Yes/ No
Yes/ No
Yes/ No
Yes/ No
Yes/ No
Yes/ No
Yes/ No
Yes/ No
Yes/ No
Yes/ No
Yes/ No
168
Business Rules
___________________________________________________________________________________________________
l)
Signature (2) :
Rubber Stamp :
Rubber Stamp :
1
Commodities Interested in
6.
Business Rules
___________________________________________________________________________________________________
the
the
the
the
Date: ................................. ..
Place: ................................. ..
Authorised Signatories :
Signature(s):
Affix
Photograph and
sign across the
photograph
Affix
Photograph and
sign across the
photograph
170
Business Rules
___________________________________________________________________________________________________
Date
_____________________
171
Business Rules
___________________________________________________________________________________________________
In case of
Individual
Partnershi
p firm
HUF
Corporate
Business Rules
___________________________________________________________________________________________________
Website:
[email protected],
www.mcxindia.com
173
Business Rules
___________________________________________________________________________________________________
Membership Application
Trading-cum-Clearing Member (TCM)
Membership Application
2)
Deposit based
Business Rules
___________________________________________________________________________________________________
The applicant shall submit the following documents (PartB) with MCX after the Exchange has intimated the
applicant about his selection. These documents would be
required before commencement of the operations:
175
Business Rules
___________________________________________________________________________________________________
9)
Deposit
Based
(a)
Admission fee***:
Rs. 25.00 lakh* (Non refundable)
Rs.10.00 lakh (Non refundable)
(b)
Interest free Security Deposit**
Rs. 30.00 lakh
Rs. 65.00 lakh
(c)
Annual Subscription Fee***: Rs. 0.75 lakh
Rs.
0.75 lakh
(d)
Processing Fee***: Rs. 0.10 lakh
Rs.
0.10 lakh
(e)
Annual Insurance Premium***: As applicable from
time to time
As applicable from time to time
(f) Minimum Usage Fee***: Rs. 0.25 lakh per quarter
Rs. 0.25 lakh per quarter
* Category 1 membership is transferable after THREE years.
** Interest free Security Deposit is to be given in the ratio of 50
% cash and 50 % cash/ B.G./ F.D.
Interest free Security Deposit is refundable after THREE
years on surrender of the membership.
*** Service Tax @ 10.30% is applicable].
Note: VSAT charges are Rs.1.65 lakh which includes cost of
communication charges for the first three years.
176
Business Rules
___________________________________________________________________________________________________
Business Rules
___________________________________________________________________________________________________
1.
5.
Constitution
6.
Date of Incorporation/
registration
Signature (1) :
Signature (2) :
Rubber Stamp :
Rubber Stamp :
Business Rules
___________________________________________________________________________________________________
.
12 a) Are you a member of any
.
other Commodity/ Stock
Exchange?
(Provide details)
b) Are you a sub-broker of
any MCX Member? If
yes, Provide No Objection
Certificate From the
Member.
13 Please give the following details of the applicant (as defined in
.
point no.5 of the Guidelines for Filling-up the form):
a) Have you been declared/ rendered incompetent to enter into
contract under any law in
force in India?
b) Have you ever been declared a defaulter by any Association
or Exchange recognized by the Government under any
Law?
c) Whether any court case is pending against applicant /
director / partners?
Signature (1) :
Signature (2) :
Rubber Stamp :
Rubber Stamp :
Yes/
No
Yes/
No
Yes/
No
179
Business Rules
___________________________________________________________________________________________________
Yes/
No
Yes/
No
Yes/
No
Yes/
No
14.
Yes/
No
Yes/
No
Yes/
No
Yes/
No
Yes/
No
Yes/
No
Business Rules
___________________________________________________________________________________________________
15.
Membership Type
Non Deposit based / Deposit based
(Strike whichever is not applicable)
16.
Commodities Interested
Signature (1) :
Signature (2) :
Rubber Stamp :
Rubber Stamp :
................................. ..
................................. ..
181
Business Rules
___________________________________________________________________________________________________
Authorised Signatories :
Signature(s):
(Name of the signatories)
`
(Designation of the signatories)
(Name of the organization)
Photographs
MC
Business Rules
___________________________________________________________________________________________________
2.
3.
4.
5.
TCM
In case of
Individual
Partnership Firm
HUF
Corporate
183
Business Rules
___________________________________________________________________________________________________
MEM/RE/01
Membership Application
Professional Clearing Member (PCM)
Unparalleled Efficiencies
Opportunities
MCX
Unlimited Growth
Infinite
Exchange Square, 255, Suren Road, Chakala, Andheri (East), Mumbai 400 093. India.
Tel. No.: 022 6731 8888, Fax No.: 022 66494151
email: [email protected], Website: www.mcxindia.com
Membership Application
Please read the terms and conditions and guidelines carefully
before filling-up the application form for professional
184
Business Rules
___________________________________________________________________________________________________
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___________________________________________________________________________________________________
186
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___________________________________________________________________________________________________
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___________________________________________________________________________________________________
188
Business Rules
___________________________________________________________________________________________________
1.
2. Office Address :
City :
State :
Pin code :
Telephone No. (O) :
Telephone No. (R) :
Fax No. (With STD
Code) :
Email :
Name Of the Contact
Person (s) :
Mobile No. :
3.
Details of branches:
Address:
Telephone No.:
Fax No. (with STD code):
Email :
Name of contact
person(s):
Mobile No.:
4. Nationality
189
Business Rules
___________________________________________________________________________________________________
5.
6.
7.
Constitution
Date of Incorporation/
registration
Details of Chief
Executive/ Director
Name :
Designation :
Tel. No.:
Mobile No.:
Email :
Signature (1) :
Signature (2) :
Rubber Stamp :
Rubber Stamp :
8.
9.
Account No.:
Account is operational
since
1
0.
Telephone No.:
Present business/
occupation
Present Net worth
11
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___________________________________________________________________________________________________
12
.
Signature (1) :
Signature (2) :
Rubber Stamp :
Rubber Stamp :
191
Yes/
No
Yes/
No
Yes/
No
Yes/
No
Yes/
No
Yes/
No
Yes/
No
Yes/
No
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___________________________________________________________________________________________________
: ................................. ..
Place
: ................................. ..
Authorised Signatories:
Signature(s):
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___________________________________________________________________________________________________
Names:
Designation:
Name of the Organisation:
Affix photograph
and sign across
the photograph
Affix photograph
and sign across
the photograph
193
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___________________________________________________________________________________________________
194
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___________________________________________________________________________________________________
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MEM/RE/01
Multi Commodity Exchange Of India Limited
Exchange Square, 255, Suren Road,
Chakala, Andheri (East), Mumbai - 400 093.
India.
Tel. No.: 022 6731 8888, Fax No.:
022 66494151
email: [email protected], Website:
www.mcxindia.com
Membership Application
Please read the terms and conditions, and guidelines carefully
before filling-up the application form.
Please enclose all relevant documents along with this
application.
Please use additional sheets to furnish information, wherever
necessary.
Multi Commodity Exchange or The Exchange or MCX has been
used interchangably unless otherwise specified.
Terms and conditions for seeking Institutional Trading-CumClearing Membership
1)
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___________________________________________________________________________________________________
g) Board Resolution seeking Institutional Trading -CumClearing membership of the Exchange, appointment of
authorized signatories and authorized persons, and
h) Any other document, as may be required by the Exchange
3)
i) Shareholding pattern,
j) Latest Annual Report / Auditors Report, and
k)
Any other documents, as may be required by the
Exchange.
6) The membership shall be subject to the approval of the
Exchange.
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Dear Sir,
We, hereby declare that we being desirous of becoming an
Institutional Trading-Cum-Clearing Member (ITCM) of Multi
Commodity Exchange of India Limited (MCX), undertake, if
admitted, to conform to and to abide by the Memorandum &
Articles of Association and the Rules, Bye-Laws, Regulations,
Business Rules, Circulars, Notifications and Office Orders
issued by MCX from time to time.
We hereby further undertake that:
i.
We shall be responsible and liable for all contracts issued,
and transactions done on MCX by us or by the
intermediaries registered as sub-broker(s), authorized
representative(s) under us as the ITCM or by the
intermediaries registered on MCX as Trading Members who
decide to clear and settle their trades through us.
We
shall
comply with all requirements of the Exchange relating to
margining, clearing and settlement thereof,
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___________________________________________________________________________________________________
ii.
We as ITCM shall be responsible for all trades done by our
sub-broker(s),or authorized representative(s) or such
Trading members who may have been appointed by MCX at
our request.
iii.
We hereby confirm that the methodology and operational
procedure for trading, risk management, clearing and
settlement may be decided by MCX in any manner
whatsoever, and in all such matters decisions communicated
to us by MCX shall be final and binding on us. Further, we
shall not raise any objection to such procedure
relating
to
Trading, risk management, clearing and settlement in case the
same is materially changed subsequently.
iv.
We understand that an ITCM is responsible for all liabilities
arising out of the trading business done on MCX by the
subbroker(s), authorized representative(s) or such Trading Members
who have been appointed by MCX at
our request and they clear
and settle their trades through us as ITCM. Further, in case the
ITCM fails to meet the liability of MCX then MCX will have absolute
authority to take appropriate actions against us as an ITCM, as they
may consider fit or expedient including our declaration as
defaulter.
v.
We further understand that our membership at MCX may be
terminated forthwith without any recourse to us in the following
cases:
1.
in case we fail to fulfill our obligations to MCX;
2.
in case we fail to fulfill the obligation of our subbroker(s), authorized representative(s) or Trading
Member(s),appointed under us,
3.
if we fail to comply with the Bye-Laws, Rules and
Regulations of MCX
We shall abide by all the decisions of MCX with respect to the
operations of the Exchange and will perform, accordingly,
in meeting our financial, regulatory and operational responsibilities
as decided by the Exchange from time to time.
Pursuant to above, We submit below the details of our candidature
as an ITCM:
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___________________________________________________________________________________________________
1.
2.
Office Address
City:
State:
Pin code:
Telephone No. (O):
Telephone No. (R):
Fax No.: (With STD Code)
Email :
Name Of the Contact Person
(s):
Mobile No.:
3. Details of branches:
Address:
Telephone No.:
Fax No. (with STD code):
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___________________________________________________________________________________________________
Email:
Name of contact person(s):
Mobile No.:
4. Nationality
Constitution
5.
6. Date of Incorporation/
registration
Details of Chief Executive /
7. Director
Name :
Designation :
Tel. No.
Mobile No.
Email :
Signature (1) :
Signature (2) :
Rubber Stamp :
Rubber Stamp :
8.
9.
Business Rules
___________________________________________________________________________________________________
1
0.
1
1.
1
2.
1 Please give the following details of the applicant (as defined in point
3. no.5 of the Guidelines for Filling-up the form):
a) Have you been declared/ rendered incompetent to enter into contract
under any law in force
in India?
b) Have you ever been declared a defaulter by any Association or
Exchange recognized by the Government under any Law?
c) Whether any court case is pending against applicant / directors?
d) Have you ever been pronounced guilty of a criminal offence involving
moral turpitude?
e) Has any disciplinary action been taken by any commodity/ stock
exchange against you or any of the promoter/ directors/ shareholders/
employees of your organisation? If so, please provide details in a
separate sheet.
f) Have you ever been adjudged bankrupt or have been proved to be
insolvent at any time?
g) Have you ever been involved in litigations, suits, or proceedings or
have been involved in any financial liability of contingent or
unascertained nature?
h) Have you ever been at any time convicted of an offence involving
fraud or dishonesty of financial irregularities?
Signature (1) :
Signature (2) :
Rubber Stamp :
Rubber Stamp :
203
Yes/ N
Yes/ N
Yes/ N
Yes/ N
Yes/ N
Yes/ N
Yes/ N
Yes/ N
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___________________________________________________________________________________________________
204
Yes/ N
Yes/ N
Yes/ N
Yes/ N
Yes/ N
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___________________________________________________________________________________________________
Signature (1) :
Signature (2) :
Rubber Stamp :
Rubber Stamp :
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___________________________________________________________________________________________________
that MCX shall not permit same classes of ITC Members to do business
on their own account or on
account of their clients like Stock Exchanges, Commodity Exchanges
etc., where only the members of the respective Exchange
shall be entitled to trade on their own account and also on account of
their clients.
Date:
................................ ..
Place:
................................ ..
Signature(s):
Photographs
Affix photograph and
sign across the
photograph
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___________________________________________________________________________________________________
Chief - Membership
Multi Commodity Exchange Of India Limited
Exchange Square, 255, Suren Road, Chakala, Andheri (East),
Mumbai - 400093.India.
Tel.No.:022 6731 8888,
FaxNo.: 022 66494151
email: [email protected],
[email protected]
Website:www.mcxindia.com
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___________________________________________________________________________________________________
Annexure-II
TCM
ID:
Trading-cum-Clearing Membership Undertaking
Enclosed Membership Undertaking should be stamped as an
Agreement:
(please use Non-Judicial stamp paper of Rs.100/- or the
value prevailing in the state, whichever is higher)
Please type the following on the Stamp Paper as the First
Page
Undertaking
This Non-Judicial Stamp paper of Rs._____ forms part and
parcel of this Undertaking submitted to Multi Commodity
Exchange of India Limited executed by
Mr./Mrs./M/s.
_________________________________________________________ on
______________ day of _____________, 20 ___.
** Signature
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___________________________________________________________________________________________________
Regd. Office:
..
the
the
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___________________________________________________________________________________________________
3. The Undersigned shall abide by, comply with and be bound by the
Bye- Laws, Rules and Regulations of MCX as in existence or in
force from time to time and any modification through any
circular, order, direction, notice, instruction issued and in force
from time to time;
4. The Undersigned shall abide by the code of conduct as laid down
by MCX from time to time.
5. The Undersigned agrees that MCX shall be entitled to amend its
Bye-laws, Rules and Regulations unilaterally and the
Undersigned shall be deemed to have consented to them, and
accordingly be bound by the Bye-laws, Rules and Regulations
prevailing from time to time and MCX shall be entitled to all
powers vested in them under its Rules, Regulations and Bye-laws,
by which the Undersigned unconditionally agrees to be bound;
6. The Undersigned shall maintain and preserve such information,
records, books and documents pertaining to the working of the
Undersigned as a Trading-cum-Clearing Member for such period
as may be specified by MCX from time to time;
7. The Undersigned shall permit MCX or any other authority
appointed by it for inspection, access to all records, books,
information, documents as may be required;
8. The Undersigned shall submit periodic reports, statements,
certificates and such other documents as may be required by
MCX, and shall comply with such audit requirements as may be
framed specially by MCX from time to time;
9. The Undersigned shall follow and comply with such orders or
instructions, whether being in the nature of a penalty or
otherwise, as may be issued by MCX or any committee of MCX
duly constituted for the purpose, in the event of the Undersigned
committing any violation of any rules, regulation or practice or
code of conduct prescribed by MCX in respect of conduct of the
business in MCX
10. The Undersigned shall conduct business at MCX prudently
and shall ensure that it will not be prejudicial or detrimental to
public interest in general, and to MCX in particular;
11. If any difference/dispute shall arise as to the interpretation,
meaning or effect of this undertaking or as to the rights and
liabilities of the parties to this Undertaking or in respect of any
other matter relating to MCX operations, the decision of MCX
shall be final, conclusive and binding on the undersigned;
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___________________________________________________________________________________________________
12. The Undersigned shall abide by and adopt the Rules and
Regulations of the clearing and settlement systems of MCX and
any other agencies appointed by MCX for this purpose and any
amendments made thereto from time to time;
13. The Undersigned shall pay the costs and expenses including
fees prescribed by MCX from time to time, as communicated by
MCX forthwith on receipt of notice to the effect;
14. The Undersigned shall use MCX infrastructure facilities and
equipment only for the purpose for which they are permitted to
be used so;
15. The Undersigned shall furnish security deposits, pledge of
securities, hypothecation of movables, lien on bank accounts or
such other security as may be required by MCX from time to time
and to do all acts, deeds and things to enable MCX to exercise all
or part of the above mentioned securities to secure recovery of
default in payment and other incidental charges relating to
default and other dues of MCX and clearing house, if any;
16. The Undersigned shall bring in additional margin deposits and
funds as and when required as decided from time to time to
participate in the trading & clearing operations on MCX;
17. The Undersigned are aware that the Undersigned would
be/are admitted as a Trading-cum-Clearing Member of MCX on
paying the prescribed membership fee and security deposit and
that the membership is not transferable for a minimum period of
three years or any minimum period as may be stipulated from
time to time by MCX and the Undersigned do unequivocally
undertake that the Undersigned shall not be entitled to make any
claim for refund of the security deposit for a minimum period of
three years even if the Undersigned intend to cease or to
discontinue to trade on MCX;
18. Without prejudice to the foregoing, MCX shall be entitled to
forfeit any property, funds, amounts, deposits or other sums due
to the Undersigned or to the credit of the Undersigned in such
events or contingencies as may be stipulated in its Rules,
Regulations and Bye-laws of MCX in force from time to time;
19. MCX shall not be held responsible or liable for any failure of
computer systems, telecommunication network and other
equipment installed at the offices of the undersigned and MCX
shall also not be held responsible for any misuse, mishandling,
damage, loss, defect etc, and MCX has the right to inspect and
supervise all computer systems, software programmes, telecommunications equipment, VSAT etc, which are provided by
211
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___________________________________________________________________________________________________
212
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___________________________________________________________________________________________________
213
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___________________________________________________________________________________________________
32. The undersigned further agrees that MCX reserves the right
to terminate the membership of the applicant at any time in the
event of non-compliance of any clause of this undertaking.
33. That the undersigned shall forthwith inform MCX of any
change in its constitution.
The Undersigned do hereby confirm that the information provided in
the application form of the Undersigned for the Trading-cumClearing Member of MCX is true and correct to the best of the
knowledge and belief of the Undersigned and that the above
undertakings will be binding on the successors and permitted
assigns of the Undersigned.
Signed and Delivered
by the withinnamed
held on .
in the presence of .
last
page
of
the
Signature
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___________________________________________________________________________________________________
215
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___________________________________________________________________________________________________
Annexure-III
Bio data
Name
Date of birth
Address: Office
Residence
Tel. No.: Office
Residence
email
Mobile No.
Fax No.
Qualification
Member of Commodity/Stock
Exchange (specify name and
period)
Work Experience (in detail)
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___________________________________________________________________________________________________
Annexure-IV
BG No.:______________
Date:__________
____
1
Revised as per Exchange Circular no. MCX/C&S/313/2008 dated October 01, 2008.
217
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___________________________________________________________________________________________________
BG No.:______________
Date:__________
____
WHEREAS
1.
M/s
_________________________________________________,
incorporated under the Companies Act, 1956 and having its
registered
office
at
_________________
___________________________________________________________________
____________________________ (Complete Address), (hereinafter
referred to as the " Member", which expression shall include its
successors and assigns ) * is/are a Member of MCX.
OR
Mr./Ms. ______________________________________________, s/o / d/o /
w/o
_____________________________resinding
at
______________________________ and having his/her office at
_________________
___________________________________________________________________
____________________________ (Complete Address), (hereinafter
referred to as the " Member", which expression shall include
his/her successors and assigns ) * is/are a Member of MCX.
OR
M/s
_________________________________________________,
a
partnership fiem registered under the Indian Partnership Act,
1932
and
having
their
office
at
___________________________________________________________________
_____________________________________________ (Complete Address),
(hereinafter referred to as the "Member", which expression shall
include their successors and assigns ) * is/are a Member of MCX.
2. One of the conditions of Membership of MCX is that the Member
maintains with MCX a security deposit in the form of cash
deposit
of
Rs._______________
(Rupees
_____________________________ only) along with shares and other
securities of a value not less than Rs.______________ (Rupees
_______________ ___________________ only ) after applying suitable
margins as prescribed by MCX.
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___________________________________________________________________________________________________
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___________________________________________________________________________________________________
the
Member,
pay
to
MCX
such
sums
not
exceeding
(Rupees
______________
____________________
only).
AUTHORISED SIGNATORIES
SEAL OF THE BANK
BG No.:______________
Date:__________
____
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___________________________________________________________________________________________________
4a. Notwithstanding the above, the Bank notes that the nature of
operations of the Member is such that the obligations, liabilities
or commitments of the Member are of a continuing nature and as
such, Bank agrees that this guarantee can be invoked by MCX
even in respect of the obligations, liabilities or commitments of
the Member towards MCX which might have arisen prior to the
execution of this guarantee.
5. This guarantee shall not be prejudiced by the failure of the
Member to comply with the Rules or Bye Laws or Regulations of
MCX or any terms and conditions attendant to the Membership
of MCX. MCX shall be at liberty to vary, amend, change or alter
any terms or conditions or its Rules or Bye Laws or Regulations
of Membership to MCX in general or as applicable to the
Member in particular from time to time, without thereby
affecting its rights against the Member or the Bank or any other
security belonging to Member now or hereafter held or taken by
MCX at any time. The discretion to make demands under this
guarantee shall exclusively be that of MCX and MCX is entitled to
demand hereunder notwithstanding being in possession of any
deposits or other securities of the Member.
6. The validity of this guarantee shall not be affected in any manner
whatsoever if MCX takes any action against the Member
including DECLARATION OF A DEFAULTER, SUSPENSION or
EXPULSION of the Member from the membership of MCX.
7. This guarantee shall not be affected by any change in the
constitution of MCX or the Member or the Bank and it shall
remain in force notwithstanding any forbearance or indulgence
that may be shown by MCX to Member.
8. The Bank undertakes to pay to MCX, the amount hereby
guaranteed within 24 hours of being served with a written notice
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___________________________________________________________________________________________________
BG No.:______________
Date:__________
____
10. The Bank undertakes not to revoke this guarantee during its
currency except with the previous consent of MCX in writing and
this guarantee shall be a continuous and irrevocable guarantee
upto a sum of Rs. ______ (Rupees ____________________ only).
11. Notwithstanding anything mentioned herein above,
a) the liability of the Bank under this guarantee shall not exceed
Rs. _______________ (Rupees ____________ ______________ only)
b) This guarantee shall be valid for a minimum period of 3
months in case of additional margin and minimum period of 12
months in case of security deposit.
c) The bank is liable to pay the guaranteed amount only if MCX
serves upon the Bank a written claim or demand on or before
______________ (i.e. within 30 days after the date of expiry of
the bank guarantee as mentioned in clause 11 b above).
Executed
this
____________________day
____________ (place).
of
______________
at
FOR _____________________________________(BANK)
_________________________________(BRANCH)
AUTHORISED SIGNATORIES
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___________________________________________________________________________________________________
Annexure-V
1
Sr.
No.
Sr.
No.
1.
2.
Allahabad Bank
Andhra Bank
1.
2.
3.
Bank of Baroda
3.
4.
5.
6.
7.
8.
9.
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
4.
5.
6.
7.
8.
9.
10.
Indian Bank
10.
11.
11.
17.
17.
18.
19.
18.
19
20.
12.
13.
14.
15.
16.
21.
22.
23.
State Bank of
Saurashtra
State Bank of
Travancore
Syndicate Bank
12.
13.
14.
15.
16.
Sr.
No.
1.
Private Banks
Axis Bank Ltd
Bank of Rajasthan Ltd
Development Credit Bank
Ltd
Federal Bank Ltd
HDFC Bank Ltd
ICICI Bank Ltd
IDBI Bank Ltd
IndusInd Bank Ltd
ING Vyasa Bank Ltd
Jammu & Kashmir Bank
Ltd
Karnataka Bank Ltd
Karur Vyasa Bank Ltd
Kotak Mahindra Bank Ltd
Lakshmi Vilas Bank Ltd
South Indian Bank Ltd
Tamilnad Mercantile Bank
Ltd
The Catholic Syrian Bank
Ltd
Yes Bank Ltd
The
Ratnakar
Bank
Limited
Foreign Banks
ABN Amro Bank N.V.
2.
Citibank N.A.
3.
Deutsche Bank A G
Updated the list of approved Banks as per Circular No.MCX/C&S/015/2012 dated 13/01/2012: Earlier notified vide Circular
No.MCX/C&S/425/2009 dated 20/10/2009, Circular No.MCX/C&S/312/2009 dated 29/07/2009, Circular No.
MCX/C&S/229/2008 dated 2/7/2008, Circular No.MCX/C&S/152/2008 dated 28/4/2008 and Circular No.MCX/147/2005 dated
16/4/2005.
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24.
25.
26.
27.
4.
5.
6.
7.
8.
9.
Annexure-VI
BG No.:______________
Date:__________
____
Format for Renewal of Bank Guarantee
Date : ___________
To,
Multi Commodity Exchange of India Ltd.
1
Revised as per Exchange Circular no. MCX/C&S/313/2008 dated October 01, 2008.
225
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___________________________________________________________________________________________________
Exchange Square,
CTS No. 255, Suren Road,
Chakala, Andheri (East),
Mumbai 400 093.
We, ____________________________________________ (Bank) having our
registered
office
at
______________________________________________________
and
our
branch office at ________________________________________________
refer to the Bank Guarantee number: ____________ executed by us
on the ___________ day of ____________________ at _____________
(hereinafter referred to as "Said Guarantee") on account of Mr. /
Ms./ M/s. ___________________ having his/her/ its/registered office at ______________________________________________________________________
___________________________________________________________________
(hereinafter referred to as a Member') for a sum of Rs ____________
(Rupees ________________________________ _________________________
only) in your favour.
OR
AUTHORIZED SIGNATORIES
SEAL OF THE BANK
BG No.:______________
Date:__________
____
We, ____________________________________________ (Bank) having our
registered
office
at
______________________________________________________
and
our
branch office at ________________________________________________
refer to the Bank Guarantee number: ____________ executed by us
on the ___________ day of ____________________ at _____________
(hereinafter referred to as "Said Guarantee") on account of M/s.
___________________ Limited, incorporated as a Company under the
Companies Act, 1956 and
having its registered office at ______________________________
_________________(Complete
Address)_____________________________________________________________
____________________________________ (hereinafter referred to as a
Member')
for
a
sum
of
Rs
____________
(Rupees
________________________________ _________________________
only) in
your favour.
OR
We, ____________________________________________ (Bank) having our
registered
office
at
______________________________________________________
and
our
branch office at _________________________________________________
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___________________________________________________________________________________________________
Said
Guarantee
was
upto
227
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___________________________________________________________________________________________________
Annexure-VII
Revised as per Exchange Circular no. MCX/C&S/313/2008 dated October 01, 2008.
228
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___________________________________________________________________________________________________
Authorised Signatory
(Name & Stamp of Member)
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Annexure-VIII
Letter from the Bank confirming the Lien on Fixed Deposit
(On Letter Head of Bank)
To
Multi Commodity Exchange of India Ltd.
Exchange Square,
255, Suren Road,
Chakala, Andheri (East),
Mumbai 400 093.
Dear Sir,
We refer to the fixed deposit receipt (FDR) bearing no.
______________ issued for Rs.___________ , in your name (A/c
Clearing/Member's name)
We hereby confirm that
i)
ii)
Revised as per Exchange Circular no. MCX/C&S/313/2008 dated October 01, 2008.
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Annexure-VIIIA
Letter from the Bank confirming the Lien on Fresh Fixed
Deposit
Date:
To
Multi Commodity Exchange of India Ltd.
Exchange Square,
255, Suren Road,
Chakala, Andheri (East),
Mumbai 400 093.
Dear Sir,
We refer to the below mentioned Fixed Deposit Receipt (FDR)
issued in the name of MCX A/c Members name
FDR No
Issue Date
Amount
Maturity Date
Yours faithfully
Authorised Signatory
1
Inserted vide Exchange Circular no. MCX/C&S/313/2008 dated October 01, 2008.
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Annexure-VIIIB
The above FDR has been renewed for further period of _____months
under the autorenewal facility on the request of the Member. Details
are as follows.
Renewal Date
Amount
New Maturity Date
Inserted vide Exchange Circular no. MCX/C&S/313/2008 dated October 01, 2008.
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___________________________________________________________________________________________________
Yours faithfully,
Authorised Signatory
(Name of the Bank & Bank Stamp)
1
Annexure-VIIIC
Letter from the Bank confirming the Lien on Fresh Fixed
Deposit
(In case of Auto Renewal where the old FDR no. is changed)
Date:
To
Multi Commodity Exchange of India Ltd.
Exchange Square,
255, Suren Road,
Chakala, Andheri (East),
Mumbai 400 093.
We refer to the fixed deposit receipt (FDR) issued, in the name of
MCX A/c . (Member's name). Details are as under.
FDR No
Issue Date
Amount
Maturity Date
The above FDR has been renewed for further period of _____months
under the autorenewal facility on the request of the Member. Details
are as follows.
New FDR No
Issue
Date
New
Date
Maturity
Amount
Inserted vide Exchange Circular no. MCX/C&S/313/2008 dated October 01, 2008.
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235
Annexure-X
Stamp Duty Rates
Sl
No
1.
2.
3.
4.
5.
Commodity
Cotton
167
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___________________________________________________________________________________________________
1
Annexure XI
KYC
(Account KYC form - Document captures the basic
Opening)
information about the constituent and an
application form
instruction/check list.
Revised Annexure XI vide Circular MCX/COMP/469/2011 dated December 22, 2011. Pursuant to Circular MCX/COMP/089/2012 dated March 14,
2012 the same shall be applicable for all clients registering on or after
April 1, 2012.
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___________________________________________________________________________________________________
Uniform
Risk
Disclosure
Document (RDD)
Rights
and
Obligations
of
Members,
Authorized Persons
and Clients
Document detailing
dealing
in
the
Tariff sheet
Document
detailing
the
rate/amount
of
brokerage and other charges levied on the
client
for
trading
on
the
Commodity
Exchange(s) (to be added by the member).
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___________________________________________________________________________________________________
Annexure XII
(Part A)
PHOTOGRAPH
Please affix your recent
passport size photograph
and sign across it
A. IDENTITY DETAILS
1.
2.
Fathers/ Spouse Name:
_________________________________________________________
1
Revised Annexure XII vide Circular MCX/COMP/469/2011 dated December 22, 2011. Pursuant to Circular MCX/COMP/089/2012 dated March 14,
2012 the same shall be applicable for all clients registering on or after
April 1, 2012.
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3.
a. Gender: Male/ Female b. Marital status: Single/ Married c. Date of
birth: _____(dd/mm/yyyy)
4.
5.
a. PAN: _________ b. Unique Identification Number (UID)/ Aadhaar,
if available:_________
c. Any other additional proof of
identity:__________________________________________
B. ADDRESS DETAILS
(Proof of address must be different from the proof of identity
submitted).
1. Address for correspondence:
_______________________________________________________
______ City/ district /village: _________ Pin Code: ________ State: __________
Country: _____________
2. Contact Details: Tel. (Off.) # _____ Tel. (Res.) # ________ Mobile No.: ________
Fax: _______
Email id: __________________________________________________.
3. Specify the proof of address submitted for correspondence
address:_______________________
4. Permanent Address (if different from above): ____________ ________
City/district/village: ___________ Pin Code: _________ State: ______________
Country: __________________
Tel. (Res.) # ________ Mobile No.: ________ Fax: _______ Email id:
____________________________
5. Specify the proof of address submitted for permanent address, if any:
___________________________
C. OTHER DETAILS
1. Gross Annual Income Details (please specify): Income Range per
annum: Below Rs 1 Lac / 1-5 Lac /5-10 Lac / 10-25 Lac / >25 Lacs or
Net-worth as on (date)___________(___________) (Net worth should not be older
than 1 year)
2. Occupation (please tick any one and give brief details): Private Sector/
Public Sector/ Government Service/Business/ Professional/ Farmer/ Others
(Specify) ______________________________________________
3. Please tick, as applicable: Politically Exposed Person (PEP)/ Related to a
Politically Exposed Person (PEP)
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Account Type:
Saving/Current/
Others
MICR
Number
IFSC
code
Beneficiary
ID
(BO ID)
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9
# At the time of printing the form, the Member must specify the names of the
Exchanges where the Member has membership.
[In case of allowing a client for trading on any other Exchange at a later date,
which is not selected now, a separate consent letter is required to be obtained
by the Member from client and to be kept as enclosure with this document]
G. INVESTMENT/TRADING EXPERIENCE
No Prior Experience
_____Years in Commodities
_____Years in other investment related fields
H. SALES TAX REGISTRATION DETAILS (As applicable, State wise)
Local Sales Tax State Registration No. : ____________
Validity Date
: ____________
Name of the State
: ____________
Central Sales Tax Registration No
: ____________
Validity Date
: ____________
Other Sales Tax State Registration No. : ____________
Validity Date
: ____________
Name of the State
: ____________
I. VAT DETAILS (As applicable, State wise)
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DECLARATION
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1.
I/We hereby declare that the details furnished above are true and correct
to the best of my/our knowledge and belief and I/we undertake to inform
you of any change therein, immediately. In case any of the above
information is found to be false or untrue or misleading or
misrepresenting, I am/we are aware that I/we may be held liable for it.
2.
3.
I/We further confirm having read and understood the contents of the
Rights and Obligations document(s), Risk Disclosure Document and
Dos and Donts. I/We do hereby agree to be bound by such provisions
as outlined in these documents. I/We have also been informed that the
standard set of documents has been displayed for Information on
Members designated website, if any.
Place_____________
Date _______________
(_________________________)
Signature of Client
FOR OFFICE USE ONLY
Seal/Stamp
of
the
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1
(Part B )
For NonIndividuals
Please fill this form in ENGLISH and in BLOCK
LETTERS.
A. IDENTITY DETAILS
1.
2.
Date of incorporation: ______________(dd/mm/yyyy) & Place of
incorporation: ___________
3.
Date of commencement of business: _________________________________
(dd/mm/yyyy)
4.
a. PAN: ______________________ b. Registration No. (e.g. CIN):
______________________
c .Any other additional proof of identity:____________________
5.
Co./Body
specify)
(In case of foreign entity or entity with foreign shareholders, self certified
copy of statutory approval obtained must be attached)
B. ADDRESS DETAILS
(Proof of address must be different from the proof of identity
submitted).
1. Address for correspondence:
_______________________________________________________
______ City/ district /village: _________ Pin Code: ________ State: __________
Country: _____________
2. Contact Details: Tel. (Off.) # _____ Tel. (Res.) # ________ Mobile No.: ________
Fax: _______
Email id: __________________________________________________.
3. Specify the proof of address submitted for correspondence
address:_______________________
1
Revised Annexure XII vide Circular MCX/COMP/469/2011 dated December 22, 2011. Pursuant to Circular MCX/COMP/089/2012 dated March 14,
2012 the same shall be applicable for all clients registering on or after
April 1, 2012.
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Account Type:
Saving/Current/
Others
MICR
Number
IFSC
code
Beneficiary
ID
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___________________________________________________________________________________________________
(BO ID)
Date of Consent
for trading on
concerned
Exchange
Signature of the
Client
1
2
3
4
5
6
7
8
9
# At the time of printing the form, the Member must specify the names of the
Exchanges where the Member has membership.
[In case of allowing a client for trading on any other Exchange at a later date,
which is not selected now, a separate consent letter is required to be obtained
by the Member from client and to be kept as enclosure with this document]
G. INVESTMENT/TRADING EXPERIENCE
No Prior Experience
_____Years in Commodities
_____Years in other investment related fields
H. SALES TAX REGISTRATION DETAILS (As applicable, State wise)
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(Surname)
(Name)
(Middle
Name)
Status of the Introducer: Authorized Person/Existing Client/Others,
please specify _____________ Address and phone no. of the Introducer:
_______________________
Signature of the Introducer:_____________________
M. ADDITIONAL DETAILS
Whether you wish to receive communication from Member in electronic form
on your Email-id [Yes / No] :
{ If yes then fill in Appendix-A}
DECLARATION
1.
I/We hereby declare that the details furnished above are true and correct
to the best of my/our knowledge and belief and I/we undertake to inform
you of any changes therein, immediately. In case any of the above
information is found to be false or untrue or misleading or
misrepresenting, I am/we are aware that I/we may be held liable for it.
2.
3.
I/We further confirm having read and understood the contents of the
Rights and Obligations document(s), Risk Disclosure Document and
Dos and Donts. I/We do hereby agree to be bound by such provisions
as outlined in these documents. I/We have also been informed that the
standard set of documents has been displayed for Information on
Members designated website, if any.
Place ______________
(_________________________________)
Date --____________
Signature of (all)
Authorized Signatory (ies)*
*Form need to be signed by all the authorized signatories.
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I / We undertake that we have made the client aware of tariff sheet and all the
voluntary/non-mandatory documents. I/We have also made the client aware of
Rights and Obligations document (s), RDD, Dos and Donts and Guidance
Note. I/We have given/sent him a copy of all the KYC documents. I/We undertake
that any change in the tariff sheet and all the voluntary/non-mandatory
documents would be duly intimated to the clients. I/We also undertake that any
change in the Rights and Obligations and RDD would be made available on
my/our website, if any, for the information of the clients.
_________________________________
Signature of the Authorised
Signatory
Date _______________
Member
Seal/Stamp
of
the
A.
IMPORTANT POINTS:
Revised Annexure XII vide Circular MCX/COMP/469/2011 dated December 22, 2011. Pursuant to Circular MCX/COMP/089/2012 dated March 14,
2012 the same shall be applicable for all clients registering on or after
April 1, 2012.
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1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
B.
Proof of Identity (POI): - List of documents admissible as Proof of
Identity:
1.
Unique Identification Number (UID) (Aadhaar)/ Passport/ Voter ID
card/ Driving license.
2.
PAN card with photograph.
3.
Identity card issued by any of the following: Central/State
Government and its Departments, Statutory/Regulatory Authorities,
Public Sector Undertakings, Scheduled Commercial Banks, Public
Financial
Institutions,
Colleges
affiliated
to
Universities,
Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc., to
their Members; and Credit cards/Debit cards issued by Banks.
C. Proof of Address (POA): - List of documents admissible as Proof of
Address:
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2.
3.
4
D. Exemptions to PAN
(Note: Sufficient documentary evidence in support of such claims to be
collected.)
1.
2.
Documentary requirements
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Corporate
Partnership
firm
Trust
HUF
Government
Bodies
Self-certification on letterhead.
Authorized signatories list with specimen signatures.
Registered
Society
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AnnexureXIII
RISK DISCLOSURE DOCUMENT
The Exchange does not expressly or impliedly, guarantee nor make any
representation concerning the completeness, the adequacy or accuracy of this
disclosure documents nor has the Exchange endorsed or passed any merits of
participating in the Commodity Derivatives market/trading. This brief
statement does not disclose all of the risks and other significant aspects of
trading. You should, therefore, study derivatives trading carefully before
becoming involved in it.
In the light of the risks involved, you should undertake transactions only if you
understand the nature of the contractual relationship into which you are
entering and the extent of your exposure to risk.
You must know and appreciate that investment in commodity futures contracts/
derivatives or other instruments traded on the Commodity Exchange(s), which
have varying element of risk, is generally not an appropriate avenue for
someone of limited resources/ limited investment and/ or trading experience
and low risk tolerance. You should, therefore, carefully consider whether such
trading is suitable for you in the light of your financial condition. In case, you
1
Revised Annexure XIII vide Circular MCX/COMP/469/2011 dated December 22, 2011. Pursuant to Circular MCX/COMP/089/2012 dated March 14,
2012 the same shall be applicable for all clients registering on or after
April 1, 2012.
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trade on the Exchange and suffer adverse consequences or loss, you shall be
solely responsible for the same and the Exchange shall not be responsible, in
any manner whatsoever, for the same and it will not be open for you to take the
plea that no adequate disclosure regarding the risks involved was made or that
you were not explained the full risk involved by the concerned member. The
Client shall be solely responsible for the consequences and no contract can be
rescinded on that account.
You must acknowledge and accept that there can be no guarantee of profits or
no exception from losses while executing orders for purchase and/or sale of a
commodity derivatives being traded on the Exchange.
It must be clearly understood by you that your dealings on the Exchange
through a member shall be subject to your fulfilling certain formalities set out
by the member, which may, inter alia, include your filing the know your client
form and are subject to Rules, Byelaws and Business Rules of the Exchange
guidelines prescribed by FMC from time to time and circulars as may be issued
by the Exchange from time to time.
The Exchange does not provide or purport to provide any advice and shall not
be liable to any person who enters into any business relationship with any
member of the Exchange and/ or third party based on any information
contained in this document. Any information contained in this document must
not be construed as business advice/investment advice. No consideration to
trade should be made without thoroughly understanding and reviewing the
risks involved in such trading. If you are unsure, you must seek professional
advice on the same.
In considering whether to trade, you should be aware of or must get
acquainted with the following:1. Basic Risks involved in the trading of Commodity Futures Contracts
and other Commodity Derivatives Instruments on the Exchange.
i.
ii.
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a.
Liquidity refers to the ability of market participants to buy
and/ or sell commodity derivative contract expeditiously at a
competitive price and with minimal price difference. Generally, it is
assumed that more the number of orders available in a market,
greater is the liquidity. Liquidity is important because with greater
liquidity, it is easier for investors to buy and/ or sell commodity
derivatives contracts swiftly and with minimal price difference and
as a result, investors are more likely to pay or receive a competitive
price for commodity derivative contracts purchased or sold. There
may be a risk of lower liquidity in some commodity derivative
contracts as compared to active commodity derivative contracts. As
a result, your order may only be partially executed, or may be
executed with relatively greater price difference or may not be
executed at all.
b.
Buying/ Selling without intention of giving and/ or taking
delivery of certain commodities may also result into losses, because
in such a situation, commodity derivative contracts may have to be
squared-off at a low/ high prices, compared to the expected price
levels, so as not to have any obligation to deliver/ receive such
commodities.
iii.
iv.
Risk-reducing orders
a. Most of the Exchanges have a facility for investors to place
limit orders, stop loss orders etc. Placing of such orders (e.g.
stop loss orders or limit orders) which are intended to limit
losses to certain amounts may not be effective many a time because
rapid movement in market conditions may make it impossible to
execute such orders.
b.
A market order will be executed promptly, subject to
availability of orders on opposite side, without regard to price and
that while the customer may receive a prompt execution of a
market order, the execution may be at available prices of
outstanding orders, which satisfy the order quantity, on price time
priority. It may be understood that these prices may be significantly
different from the last traded price or the best price in that
commodity derivatives contract.
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c.
A limit order will be executed only at the limit price
specified for the order or a better price. However, while the client
received price protection, there is a possibility that the order may
not be executed at all.
d.
A stop loss order is generally placed "away" from the
current price of a commodity derivatives contract, and such order
gets activated if and when the contract reaches, or trades through,
the stop price. Sell stop orders are entered ordinarily below the
current price, and buy stop orders are entered ordinarily above the
current price. When the contract approaches pre-determined price,
or trades through such price, the stop loss order converts to a
market/limit order and is executed at the limit or better. There is no
assurance therefore that the limit order will be executable since a
contract might penetrate the pre-determined price, in which case,
the risk of such order not getting executed arises, just as with a
regular
limit
order.
v.
vi.
Risk of Rumours
a.
Rumours about the price of a commodity at times float in the
market through word of mouth, newspaper, websites or news
agencies, etc., the investors should be wary of and should desist
from acting on rumours.
vii.
System Risk
a.
High volume trading will frequently occur at the market
opening and before market close. Such high volumes may also
occur at any point in the day. These may cause delays in order
execution or confirmation.
b.
During periods of volatility, on account of market participants
continuously modifying their order quantity or prices or placing
fresh orders, there may be delays in execution of order and its
confirmation.
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c.
Under certain market conditions, it may be difficult or
impossible to liquidate a position in the market at a reasonable
price or at all, when there are no outstanding orders either on the
buy side or the sell side, or if trading is halted in a commodity due
to any action on account of unusual trading activity or price hitting
circuit filters or for any other reason.
viii. System/ Network Congestion
a. Trading on the Exchange is in electronic mode, based on
satellite/
leased
line
communications,
combination
of
technologies and computer systems to place and route orders.
Thus, there exists a possibility of communication failure or
system problems or slow or delayed response from system or
trading halt, or any such other problem/glitch whereby not
being able to establish access to the trading system/network,
which may be beyond the control of and may result in delay in
processing or not processing buy or sell orders either in part or
in full. You are cautioned to note that although these problems
may be temporary in nature, but when you have outstanding
open positions or unexecuted orders, these represent a risk
because of your obligations to settle all executed transactions.
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c.
If you fail to deposit the additional margin by the deadline or if an
outstanding debt occurs in your account, the Member of the Exchange
may liquidate/square-up a part of or the whole position. In this case, you
will be liable for any losses incurred due to such square-up/ Close Outs.
d.
Under certain market conditions, an Investor may find it difficult or
impossible to execute the transactions. For example, this situation can
occur due to factors such as illiquidity i.e. when there are insufficient
bids or offers or suspension of trading due to price limit or circuit
breakers etc.
e.
Steps, such as, changes in the margin rate, increase in the cash
margin rate etc. may be adopted in order to maintain market stability.
These new measures may be applied to the existing open interests. In
such conditions, you will be required to put up additional margins or
reduce your positions.
f.
You must ask your Member of the Exchange to provide the full
details of the commodity derivatives contracts you plan to trade i.e. the
contract specifications and the associated obligations.
3. TRADING THROUGH WIRELESS TECHNOLOGY OR ANY OTHER
TECHNOLOGY:
Any additional provisions defining the features, risks, responsibilities,
obligations and liabilities associated with commodities trading through
wireless technology or any other technology should be brought to the notice
of the client by the member.
4. General
i.
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ii.
iii.
iv.
v.
Revised Annexure XIII vide Circular MCX/COMP/469/2011 dated December 22, 2011. Pursuant to Circular MCX/COMP/089/2012 dated March 14,
2012 the same shall be applicable for all clients registering on or after
April 1, 2012.
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4. The Member shall continuously satisfy itself about the genuineness and
financial soundness of the client and investment objectives relevant to
the services to be provided.
5. The Member shall take steps to make the client aware of the precise
nature of the Members liability for business to be conducted, including
any limitations, the liability and the capacity in which the Member acts.
6. The Authorized Person shall provide necessary assistance and co-operate
with the Member in all its dealings with the client(s).
CLIENT INFORMATION
7. The client shall furnish all such details in full as are required by the
Member in "Account Opening Form with supporting details, made
mandatory by commodity exchanges/FMC from time to time.
8. The client shall familiarize himself with all the mandatory provisions in
the Account Opening documents. Any additional clauses or documents
specified by the Member shall be non-mandatory; therefore, subject to
specific acceptance by the client.
9. The client shall immediately notify the Member in writing if there is any
change in the information in the account opening form as provided at
the time of account opening and thereafter; including the information on
winding up petition/insolvency petition or any litigation which may have
material bearing on his capacity. The client shall provide/update the
financial information to the Member on a periodic basis.
10.
The Member and Authorized Person shall maintain all the details of
the client as mentioned in the account opening form or any other
information pertaining to the client, confidentially and that they shall not
disclose the same to any person/authority except as required under any
law/regulatory requirements. Provided however that the Member may so
disclose information about his client to any person or authority with the
express permission of the client.
MARGINS
11.
The client shall pay applicable initial margins, withholding margins,
special margins or such other margins as are considered necessary by
the Member or the Exchange or as may be directed by FMC from time to
time as applicable to the segment(s) in which the client trades. The
Member is permitted in its sole and absolute discretion to collect
additional margins (even though not required by the Exchangeor FMC)
and the client shall be obliged to pay such margins within the stipulated
time.
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12.
The client understands that payment of margins by the client does
not necessarily imply complete satisfaction of all dues. In spite of
consistently having paid margins, the client may, on the settlement of its
trade, be obliged to pay (or entitled to receive) such further sums as the
contract may dictate/require.
TRANSACTIONS AND SETTLEMENTS
13.
The client shall give any order for buy or sell of commodities
derivatives contract in writing or in such form or manner, as may be
mutually agreed between the client and the Member however ensuring
the regulatory requirements in this regard are complied with.
TheMember shall ensure to place orders and execute the trades of the
client, only in the Unique Client Code assigned to that client.
14.
The Member shall inform the client and keep him apprised about
trading/settlement cycles, delivery/payment schedules, any changes
therein from time to time, and it shall be the responsibility in turn of the
client to comply with such schedules/procedures of the relevant
commodity exchange where the trade is executed.
15.
The Member shall ensure that the money deposited by the client
shall be kept in a separate account, distinct from his/its own account or
account of any other client and shall not be used by the Member for
himself/itself or for any other client or for any purpose other than the
purposes mentioned in Rules, circulars, notices, guidelines of FMC
and/or Rules, Business Rules, Bye-laws, circulars and notices of
Exchange.
16.
Where the Exchange(s) cancels trade(s) suo moto all such trades
including the trade/s done on behalf of the client shall ipso facto stand
cancelled, Member shall be entitled to cancel the respective contract(s)
with client(s).
17.
The transactions executed on the Exchange are subject to Rules,
Byelaws and Business Rules and circulars/notices issued thereunder of
the Exchanges where the trade is executed and all parties to such trade
shall have submitted to the jurisdiction of such court as may be specified
by the Byelaws and Business Rules of the Exchanges where the trade is
executed for the purpose of giving effect to the provisions of the Rules,
Byelaws and Business Rules of the Exchanges and the circulars/notices
issued thereunder.
BROKERAGE
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18.
The Client shall pay to the Member brokerage and statutory levies
as are prevailing from time to time and as they apply to the Clients
account, transactions and to the services that Member renders to the
Client. The Member shall not charge brokerage more than the maximum
brokerage permissible as per the Rules, Business Rules and Bye-laws of
the relevant commodity exchanges and/or Rules of FMC.
LIQUIDATION AND CLOSE OUT OF POSITION
19.
Without prejudice to the Member's other rights (including the right
to refer a matter to arbitration), the client understands that the Member
shall be entitled to liquidate/close out all or any of the client's positions
for non-payment of margins or other amounts, outstanding debts, etc.
and adjust the proceeds of such liquidation/close out, if any, against the
client's liabilities/obligations. Any and all losses and financial charges on
account of such liquidation/closing-out shall be charged to and borne by
the client.
20.
In the event of death or insolvency of the client or his/its otherwise
becoming incapable of receiving and paying for or delivering or
transferring commodities which the client has ordered to be bought or
sold, Member may close out the transaction of the client and claim
losses, if any, against the estate of the client. The client or his nominees,
successors, heirs and assignee shall be entitled to any surplus which may
result there from. The client shall note that transfer of
funds/commodities in favor of a Nominee shall be valid discharge by the
Member against the legal heir.
DISPUTE RESOLUTION
21.
The Member shall co-operate in redressing grievances of the client
in respect of all transactions routed through it.
22.
The client and the Member shall refer any claims and/or disputes
with respect to deposits, margin money, etc., to arbitration as per the
Rules, Byelaws and Business Rules of the Exchanges where the trade is
executed and circulars/notices issued thereunder as may be in force from
time to time.
23.
The client/Member understands that the instructions issued by an
authorized representative for dispute resolution, if any, of the
client/Member shall be binding on the client/Member in accordance with
the letter authorizing the said representative to deal on behalf of the said
client/Member.
TERMINATION OF RELATIONSHIP
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24.
This relationship between the Member and the client shall be
terminated; if the Member for any reason ceases to be a member of the
commodity exchange including cessation of membership by reason of the
Member's default, death, resignation or expulsion or if the certificate is
cancelled by the Exchange.
25.
The Member, Authorized Person and the client shall be entitled to
terminate the relationship between them without giving any reasons to
the other party, after giving notice in writing of not less than one month
to the other parties. Notwithstanding any such termination, all rights,
liabilities and obligations of the parties arising out of or in respect of
transactions entered into prior to the termination of this relationship
shall continue to subsist and vest in/be binding on the respective parties
or
his/its
respective
heirs,
executors,
administrators,
legal
representatives or successors, as the case may be.
26.
In the event of demise/insolvency of the Authorized Person or the
cancellation of his/its registration with the Board or/withdrawal of
recognition of the Authorized Person by the commodity exchange and/or
termination of the agreement with the Authorized Person by the Member,
for any reason whatsoever, the client shall be informed of such
termination and the client shall be deemed to be the direct client of the
Member and all clauses in the Rights and Obligations document(s)
governing the Member, Authorized Person and client shall continue to be
in force as it is, unless the client intimates to the Member his/its
intention to terminate their relationship by giving a notice in writing of
not
less
than
one
month.
ADDITIONAL RIGHTS AND OBLIGATIONS
27.
The Member and client shall reconcile and settle their accounts
from time to time as per the Rules, Business Rules, Bye Laws, Circulars,
Notices and Guidelines issued by FMC and the relevant Exchanges where
the trade is executed.
28.
The Member shall issue a contract note to his clientsfor trades
executed in such format as may be prescribed by the Exchange from time
to time containing records of all transactions including details of order
number, trade number, trade time, trade price, trade quantity, details of
the derivatives contract, client code, brokerage, all charges levied etc.
and with all other relevant details as required therein to be filled in and
issued in such manner and within such time as prescribed by the
Exchange. The Member shall send contract notes to the investors within
24 hours of the execution of the trades in hard copy and/or in electronic
form using digital signature.
29.
The Member shall make pay out of funds or delivery of
commodities as per the Exchange Rules, Bye-Laws, Business Rules and
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Circulars, as the case may be, to the Client on receipt of the payout from
the relevant Exchange where the trade is executed unless otherwise
specified by the client and subject to such terms and conditions as may
be prescribed by the relevant Exchange from time to time where the
trade is executed.
30.
The Member shall send a complete `Statement of Accounts for
both funds and commodities in respect of each of its clients in such
periodicity and format within such time, as may be prescribed by the
relevant Exchange, from time to time, where the trade is executed. The
Statement shall also state that the client shall report errors, if any, in the
Statement immediately but not later than 30 calendar days of receipt
thereof, to the Member. A detailed statement of accounts must be sent
every month to all the clients in physical form. The proof of delivery of
the same should be preserved by the Member.
31.
The Member shall send margin statements to the clients on
monthly basis. Margin statement should include, inter-alia, details of
collateral deposited, collateral utilized and collateral status (available
balance/due from client) with break up in terms of cash, Fixed Deposit
Receipts (FDRs), Bank Guarantee, warehouse receipts, securities etc.
32.
The Client shall ensure that it has the required legal capacity to,
and is authorized to, enter into the relationship with Member and is
capable of performing his obligations and undertakings hereunder. All
actions required to be taken to ensure compliance of all the transactions,
which the Client may enter into shall be completed by the Client prior to
such transaction being entered into.
33.
In case, where a member surrenders his/ her/ its membership,
Member gives a public notice inviting claims, if any, from investors. In
case of a claim relating to transactions executed on the trading system of
the Exchange, ensure that client lodge a claim with the Exchange within
the stipulated period and with the supporting documents.
ELECTRONIC CONTRACT NOTES (ECN)
34.
In case, client opts to receive the contract note in electronic form,
he shall provide an appropriate e-mail id (created by the client) to the
Member(Kindly refer Appendix A of Annexure 1). Member shall ensure
that all the rules/Business Rule/Bye-Laws/ circulars issued from time to
time in this regard are complied with. The client shall communicate to
the Member any change in the email-id through a physical letter. If the
client has opted for internet trading, the request for change of email id
may be made through the secured access by way of client specific user id
and password.
197
Business Rules
___________________________________________________________________________________________________
35.
The Member shall ensure that all ECNs sent through the e-mail
shall be digitally signed, encrypted, non-tamperable and in compliance
with the provisions of the IT Act, 2000. In case, ECN is sent through email as an attachment, the attached file shall also be secured with the
digital signature, encrypted and non-tamperable.
36.
The client shall note that non-receipt of bounced mail notification
by the Member shall amount to delivery of the contract note at the e-mail
ID of the client.
37.
The Member shall retain ECN and acknowledgement of the e-mail
in a soft and non-tamperable form in the manner prescribed by the
exchange in compliance with the provisions of the IT Act, 2000 and as
per the extant rules/circulars/guidelines issued by FMC/Commodity
exchanges from time to time. The proof of delivery i.e., log report
generated by the system at the time of sending the contract notes shall
be maintained by the Member for the specified period under the extant
rules/circulars/guidelines issued by FMC/Commodity exchanges. The log
report shall provide the details of the contract notes that are not
delivered to the client/e-mails rejected or bounced back. The Member
shall take all possible steps to ensure receipt of notification of bounced
mails by him at all times within the stipulated time periodunder the
extant rules/circulars/guidelines issued by FMC/Commodity exchanges.
38.
The Member shall continue to send contract notes in the physical
mode to such clients who do not opt to receive the contract notes in the
electronic form. Wherever the ECNs have not been delivered to the client
or has been rejected (bouncing of mails) by the e-mail ID of the client,
the Member shall send a physical contract note to the client within the
stipulated time under the extant Regulations/ Rules, Bye-Laws, Business
Rules and Circulars of FMC/commodity exchanges and maintain the
proof of dispatch and delivery of such physical contract notes.
39.
In addition to the e-mail communication of the ECNs to the client,
the Member shall simultaneously publish the ECN on his designated website, if any, in a secured way and enable relevant access to the clients and
for this purpose, shall allot a unique user name and password to the
client, with an option to the client to save the contract note electronically
and/or take a print out of the same.
40.
The Electronic Contract Note (ECN) declaration form obtained
from the Client who opts to receive thecontract note in electronic form
must be obtained afresh before 1st April of every financial year by
following the same procedure. Thus, such declaration would be valid for
that financial year only.
LAW AND JURISDICTION
198
Business Rules
___________________________________________________________________________________________________
41.
In addition to the specific rights set out in this document, the
Member, Authorised Person and the client shall be entitled to exercise
any other rights which the Member or the client may have under the
Rules, Bye-laws and Business Rules of the Exchanges in which the client
chooses to trade and circulars/notices issued thereunder or Rules of
FMC.
42.
The provisions of this document shall always be subject to
Government notifications, any rules, guidelines and circulars/notices
issued by FMC and Circulars, Rules, Business Rules and Bye laws of the
relevant commodity exchanges, where the trade is executed, that may be
in force from time to time.
43.
The Member and the client shall abide by any award passed by the
Arbitrator(s) under the Arbitration and Conciliation Act, 1996. However,
there is also a provision of appeal, if either party is not satisfied with the
arbitration award.
44.
Words and expressions which are used in this document but which
are not defined herein shall, unless the context otherwise requires, have
the same meaning as assigned thereto in the Rules, Byelaws and
Regulations/Business Rules and circulars/notices issued thereunder of
the Exchanges/FMC.
45.
All additional voluntary/nonmandatory clauses/document added by
the Member should not be in contravention with Rules/ Business
Rules/Notices/Circulars of Exchanges/FMC. Any changes in such
voluntary clauses/document(s) need to be preceded by a notice of 15
days. Any changes in the rights and obligations which are specified by
Exchanges/FMC shall also be brought to the notice of the clients.
46.
If the rights and obligations of the parties hereto are altered by
virtue of change in Rules of FMC or Bye-laws, Rules and Business Rules
of the relevant commodity exchanges where the trade is executed, such
changes shall be deemed to have been incorporated herein in
modification of the rights and obligations of the parties mentioned in this
document.
47.
Members are required to send account statement to their clients
every month in physical form.
199
Business Rules
___________________________________________________________________________________________________
2.
3.
The Member shall bring to the notice of client the features, risks,
responsibilities, obligations and liabilities associated with commodities
trading through wireless technology/internet or any other technology
should be brought to the notice of the client by the Member.
4.
The Member shall make the client aware that the Members IBT system
itself generates the initial password and its password policy as stipulated
in line with norms prescribed by Exchanges/FMC.
5.
The Client shall be responsible for keeping the Username and Password
confidential and secure and shall be solely responsible for all orders
entered and transactions done by any person whosoever through the
Members IBT System using the Clients Username and/or Password
whether or not such person was authorized to do so. Also the client is
aware that authentication technologies and strict security measures are
required for the internet trading/ commodities trading through wireless
technology through order routed system and undertakes to ensure that
the password of the client and/or his authorized representative are not
revealed to any third party including employees and dealers of the
Member
6.
200
Business Rules
___________________________________________________________________________________________________
7.
The Client is fully aware of and understands the risks associated with
availing of a service for routing orders over the internet/ commodities
trading through wireless technology and Client shall be fully liable and
responsible for any and all acts done in the Clients Username/password
in any manner whatsoever.
8.
The Member shall send the order/trade confirmation through email to the
client at his request. The client is aware that the order/ trade
confirmation is also provided on the web portal. In case client is trading
using wireless technology, the Member shall send the order/trade
confirmation on the device of the client.
9.
The client is aware that trading over the internet involves many
uncertain factors and complex hardware, software, systems,
communication lines, peripherals, etc. are susceptible to interruptions
and dislocations. The Member and the Exchange do not make any
representation or warranty that the Members IBT Service will be
available to the Client at all times without any interruption.
10.
The Client shall not have any claim against the Exchange or the Member
on account of any suspension, interruption, non-availability or
malfunctioning of the Members IBT System or Service or the Exchanges
service or systems or non-execution of his orders due to any link/system
failure at the Client/Members/Exchange end for any reason beyond the
control of the Member/Exchanges.
201
Business Rules
___________________________________________________________________________________________________
Annexure-XIII
Part D
Revised Annexure XIII vide Circular MCX/COMP/469/2011 dated December 22, 2011. Pursuant to Circular MCX/COMP/089/2012 dated March 14,
2012 the same shall be applicable for all clients registering on or after
April 1, 2012.
202
Business Rules
___________________________________________________________________________________________________
and other authorities to know your rights and duties vis--vis those of the
Member.
11. Ask all relevant questions and clear your doubts with your Member before
transacting.
12. Insist on receiving the bills for every settlement.
13. Insist on Monthly statements of your ledger account and report any
discrepancies in the statement to your Member within 7 working days. In
case of unsatisfactory response report the discrepancy to the Exchange
within 15 working days from the date of cause of action.
14. Scrutinize minutely both the transaction & holding statements that you
receive from your Depository Participant.
15. Keep Delivery Instruction Slips (DIS) book issued by DPs in safe
possession.
16. Ensure that the DIS numbers are preprinted and your account number
(UCC) is mentioned in the DIS book.
17. Freeze your Demat account in case of your absence for longer duration or
in case of not using the account frequently.
18. Pay required margins in time and only by Cheque and ask for receipt
thereof from the Member.
19. Deliver the commodities in case of sale or pay the money in case of
purchase within the time prescribed.
20. Understand and comply with accounting standards for derivatives.
21. Ensure to read, understand and then sign the voluntary clauses, if any,
agreed between you and the Member. Note that the clauses as agreed
between you and the Member cannot be changed without your consent.
22. Get a clear idea about all brokerage, commissions, fees and other charges
levied by the Member on you for trading and the relevant provisions/
guidelines specified by FMC/Commodity exchanges.
23. Make the payments by account payee cheque in favour of the Member.
Ensure that you have a documentary proof of your payment/deposit of
commodities with the Member, stating date, commodity, quantity, towards
which bank/ demat account such money or commodities (in the form of
warehouse receipts) deposited and from which bank/ demat account.
24. The payout of funds or delivery of commodities (as the case may be) shall
not be made to you within one working day from the receipt of payout
from the Exchange, in case you have given specific authorization for
maintaining running account to the member. Thus, in this regard, the
running account authorization provided by you to the Member shall be
subject to the following conditions:
a) Such authorization from you shall be dated, signed by you only and
contains the clause that you may revoke the same at any time.
b) You need to bring any dispute arising from the statement of account to
the notice of the Member in writing preferably within 7 (seven)
working days from the date of receipt of funds/commodities or
statement, as the case may be. In case of dispute, refer the matter in
writing to the Investors Grievance Cell of the relevant Commodity
exchanges without delay.
c) In case you have not opted for maintaining running account and payout is not received on the next working day of the receipt of payout
203
Business Rules
___________________________________________________________________________________________________
from the exchanges, please refer the matter to the Member. In case
there is dispute, ensure that you lodge a complaint in writing
immediately with the Investors Grievance Cell of the relevant
Commodity exchange.
d) Please register your mobile number and email id with the Member, to
receive trade confirmation alerts/ details of the transactions through
SMS or email, by the end of the trading day, from the commodity
exchanges.
25. You should familiarize yourself with the protection accorded to the money
or other property you may deposit with your member, particularly in the
event of a default in the commodity derivatives market or the member
becomes insolvent or bankrupt.
26. Please ensure that you have a documentary proof of having made the
deposit of such money or property with the member, stating towards
which account such money or property deposited.
27. In case your problem/grievance/issue is not being sorted out by concerned
Member/Authorised Person then you may take up the matter with the
concerned CommodityExchange. If you are not satisfied with the
resolution of your complaint then you can escalate the matter to FMC.
Don'ts
1. Do not deal with any unregistered intermediaries.
2. Do not undertake off-market transactions as such transactions are illegal
and fall outside the jurisdiction of the Exchange.
3. Do not enter into assured returns arrangement with any Member
4. Do not get carried away by luring advertisements, rumours, hot tips,
explicit/ implicit promise of returns, etc.
5. Do not make payments in cash/ take any cash towards margins and
settlement to/ from the Member.
6. Do not start trading before reading and understanding the Risk Disclosure
Agreement.
7. Do not neglect to set out in writing, orders for higher value given over
phone.
8. Do not accept unsigned/duplicate contract note/confirmation memo.
9. Do not accept contract note/confirmation memo signed by any
unauthorized person.
10. Dont share your internet trading accounts password with anyone
11. Do not delay payment/deliveries of commodities to Member.
12. Do not forget to take note of risks involved in the investments.
13. Do not sign blank Delivery Instruction Slips (DIS) while furnishing
commodities, deposits and/or keep them with Depository Participants (DP)
or member to save time.
14. Do not pay brokerage in excess of that rates prescribed by the Exchange
15. Dont issue cheques in the name of Authorized Person.
204
Business Rules
___________________________________________________________________________________________________
Annexure XIII-
Part E
Appendix A
Revised Annexure XIII vide Circular MCX/COMP/469/2011 dated December 22, 2011. Pursuant to Circular MCX/COMP/089/2012 dated March 14,
2012 the same shall be applicable for all clients registering on or after
April 1, 2012.
205
Business Rules
___________________________________________________________________________________________________
I,
__________________________________________
a
M/s._____________________________________________of
Exchange undertake as follows:
client
with
Member
________________________
[The above declaration has been read and understood by me. I am aware of the
risk involved in dispensing with the physical contract note, and do hereby take
full responsibility for the same]
(The above lines must be reproduced in own handwriting of the client.)
_________________________________________________________________________________
_____________________________________________________________________
206
Business Rules
___________________________________________________________________________________________________
This declaration form has to be sent by the Member to the client on the
email id provided by client while opening the trading account.
The client shall, on receipt of this email, print the email as well as the
declaration form.
The hard copy of the declaration shall be filled up by the client and
submitted to the Member along with a signed hard copy of the email. The
Member shall acknowledge the receipt of the declaration from the client.
The size of the font of this declaration must be at least 12.
207
[Annexure-XIV
CONTRACT NOTE
(Subject to exclusive jurisdiction of the courts in Mumbai only)
_____________________________________________________________________________________________________________________________
____________________________________________
Dealing Office Address of the Member
Tel. No:
Fax. No:
E-mail:
Contract No:
Trade Date:
To
Name of the Constituent
Address of the Constituent
Unique Client Code of the Constituent.
PAN of the Constituent
Sir/ Madam,
I / We have this day done by your order and on your account the following transactions:
Ord
1
Tra
Tra
Contr
Quan
Serv
Amo
Contr
Quan
Pri
Serv
Amo
Amended vide Exchange Circular No. MCX/COMP/227/2013 dated June 28, 2013.
208
Business Rules
___________________________________________________________________________________________________
er
No.
de
No.
de
Tim
e
act
tity
ce
ue
(Rs
.)
rage
(Rs.)
ice
Tax*
(Rs.)
unt
Total
(Rs.)
act
tity
ce
ue
(Rs
.)
ities
Transact
ion Tax
(As
Applicab
le)*
(Rs.)
rage
(Rs.)
ice
Tax
*
(Rs.)
unt
Total
(Rs.)
Other Levies,
If any
Total
* Alternatively, these details may be furnished separately as Annexure to the Contract Note.
Brokerage has been charged as stated and has been at rates not exceeding the official scale of brokerage and
indicated separately.
This contract is subject to the Rules, Bye-laws and Business Rules and usages of Multi Commodity Exchange of India
Limited.
This contract constitutes and shall be deemed to constitute as provided overleaf an agreement between you and
me/us, and in the event of any claim (whether admitted or not ) , difference or dispute in respect of any dealings,
and contracts of a date prior or subsequent to the date of this contract (including any question whether such
dealings , transactions or contracts have been entered into or not ) shall be referred to arbitration as provided in
the Rules , Bye-laws and Business Rules of Multi Commodity Exchange of India Limited.
The provisions printed overleaf form a part of the contract.
Yours faithfully,
Date:
Place:
209
Business Rules
___________________________________________________________________________________________________
210
( 15.
1 4
)
( 15.
2 5
)
( 15.
3 11
)
3
1
211
4
)
(
5
)
7 (a)The Relevant Authority may provide for difference seats of arbitration for
different regions of the country either generally or specifically and in such
an event the seat of arbitration shall be the place so provided by the
Relevant Authority. Save as otherwise specified by the Relevant Authority,
the seat of arbitration for different regions shall be as follows:
Seats of
Arbitration
States covered by the RAC
Regional
Arbitration
Centres
(RAC)
Delhi, Haryana, Uttar Pradesh, Uttaranchal, Himachal
Delhi
Pradesh, Punjab, Jammu & Kashmir, Chandigarh, Rajasthan.
West Bengal, Bihar, Jharkhand, Orissa, Assam, Arunachal
Kolkata
Pradesh, Mizoram, Manipur, Sikkim, Meghalaya, Nagaland,
Tripura, Chhattisgarh,
Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Andaman &
Chennai
Nicobar, Lakshadweep, Pondicherry.
Maharashtra, Gujarat, Goa, Daman & Diu, Dadra & Nagar
Mumbai
Haveli, Madhya Pradesh .
(b) The premises/location where the hearing of arbitration shall take place shall
be such place as may be identified by the Exchange from time to time and
intimated to the arbitrator and the parties to the dispute accordingly.
3 5B. Criteria for selection of Seat of arbitration
7 Save as otherwise specified by the Relevant Authority, the criteria for selection
of Seat of Arbitration and place of hearing of a particular matter is as follows:
Parties
Criteria for selection
Place of hearing
to
of Seat by the
dispute
Applicant for
Arbitration
Member If the dealing offices of Hearing shall be held at the RAC where
Vs
both the members from the Applicant Member has filed the
Member where the dealing was Application for arbitration and the
carried is situated in Respondent Member shall attend the
any one of the states hearing in that particular RAC
covered by a particular
RAC then the ApplicantMember shall select the
Seat of that RAC for
arbitration.
Member Where
the
Client Hearing shall be held at that RAC where
V/s Client ordinarily resides in any the Applicant has filed the application for
&
one
of
the
states Arbitration and the Respondent shall
Client V/s covered by a particular attend the hearing in that particular
Member RAC, then the Applicant RAC.
shall select the Seat of
that RAC for arbitration.
Notwithstanding anything contained hereinabove and unless otherwise
specifically agreed in writing between the Member and the Client, in respect of
any claims, disputes and differences arising out of internet trading between the
client and the member, the Seat of Arbitration shall be at the Regional
Arbitration Centre having jurisdiction in any one of the states where the client
212
213
Annexure-XV
Application for Approval as Authorised User
From: __________________________
(Name of Member)
ID No.: _____________________
To
Multi Commodity Exchange of India Limited
Mumbai
Dear Sir,
We________________________________________ (Name of Member/ Client)
hereby apply for approval of _______________________ (Name of the User)
of(address) as our
Authorised User.
We hereby agree and bind ourselves to be responsible for all acts,
quotations and transactions done, trades made, or affected by such user
on the Trading System. We shall ensure that he/she will not execute any
order on his/her own account or on account of anyone without such
order having been approved by us in writing prior to execution.
For
(Name of Member/ Client)
Authorised Signatory
Date:
Place:
214
Annexure-XVI
Questionnaire For VSAT
Date
: _________
Name
: _______________________________
Address
: _____________________________
_____________________________
_____________________________
_____________________________
_______________________________
Tel. No.
: _______________________________
Particulars
Working days
hours at the site
Building
3.
Rooftop
Replies
and Days:
Timings:
Number of storeyes
Height
Floor on which Trading
workstation is located
Approx distance from the
antenna
to
the
server/trading room
Any near by obstruction, if
yes please specify
Flat
Inclined
Dimension of the door for
entering the rooftop
Approx dimension of the
available open space for the
installation of Antenna (min
space requirement is 10ft x
10ft)
Nearest electrical earth
point near the antenna
215
4.
VSAT Antenna
5.
6.
7.
Specify)
Provision for conduit from Yes
the Antenna to the trading
workstation
No
VSAT Indoor Unit Whether dust free Air(IDU)
conditioned environment is
available to host the IDU
(approx size of IDU
15x13x3)
Provision of 230 V, 3 pin 5
Amp socket for IDU
Whether voltage between
the earth and the neutral is
less than 2V
Capacity of UPS for 1 KVA Online UPS
IDU
_____ KVA
Hardware
for
the Minimum Intel PIII (1 Yes
Trader Workstation
GHz) / Celeron 1.2 GHz
Processor
No
(Intel
PIV
Processor
recommended)
Minimum 128 MB RAM
Yes
(256
MB
RAM
Recommended)
No
Minimum 20 GB HDD
Yes
CD ROM
No
Yes
No
Yes
15 Colour Monitor
No
Yes
No
216
217
Annexure-XVII
VSAT Undertaking
1.
** Signature
2.
Signature
(Name & Designation)
*
VSAT UNDERTAKING
218
NOW IN CONSIDERATION OF MCX permitting me/us as a trading-cumclearing member to use the above mentioned MCXNET,
I/WE UNCONDITIONALLY AND IRREVOCABLY UNDERTAKE AND
AGREE
i. That ownership of the MCXNET will remain with MCX and will not be
transferable to me/us in any manner.
ii. That Closed User Group for the MCXNET will consist of MCX and its
Trading-cum-clearing members trading in the Commodity Market.
iii. To display in such manner at all locations connected with MCXNET all
such notices or signs boards as may be prescribed or approved by
MCX.
iv. To use MCXNET and all related or connected equipments only for the
purposes prescribed or approved by MCX.
v. To subject network engineering and interface equipment to the
examination and supervision of MCX or its authorized
representatives or approved persons.
vi. To ensure that any communication emanating from the VSAT will first
be routed to the hub and to ensure that there will be no direct
communication by passing the hub between two VSATs.
vii.
viii.
xiii.
xiv.
To ensure that the VSAT and related equipments are installed and
used only in the approved premises under my/our control only by
persons authorized or approved by MCX and to take all
responsibility for authorized or unauthorized use of the MCXNET
through such VSAT and related equipments.
xx.To indemnify and keep indemnified MCX to the extent of the damage,
loss, harm, costs or which shall be incurred by MCX as a
consequence of any.
i. Contravention of any of the clauses mentioned above for which
I/We am/are giving this undertaking to comply with or
ii. Contravention of any of the Bye-laws, Rules, Regulations framed by
MCX upon which MCX may adopt any course of action which may
be either disciplinary or legal or impose any other penalty which
MCX may deem necessary, which shall include the right of MCX to
demand any amount of monetary compensation for any default on
the part of Trading-cum-clearing member/from the Trading-cum221
222
Annexure-XVIII
Letter from Member authorizing MCX for making transactions on his
behalf
223
Annexure XIX
(Rule 8)
Circular No.MCX/036/07
SCHEDULE
Transfer shall take place only after the fulfillment of the following
conditions:
1.
2.
3.
4.
5.
6.
9.
224
Annexure 1
(Rule 8.2)
Application for Transfer of Membership
Date:
To,
Membership Department
Multi Commodity of Exchange of India Limited (MCX)
Exchange Square,
255, Suren Road, Chakala,
Andheri (East),
Mumbai 400 093.
Dear Sir,
Sub: Application for obtaining approval from MCX for Transfer of
Membership
I / We _______________________________ (Trade name of the existing
Member / Transferor) member of MCX, have completed ______ years as a
member of Multi Commodity Exchange of India Limited (MCX). I / We
now proposed to transfer our above stated membership to
________________________ (name of the proposed member / buyer /
Transferee).
The relevant particulars of our membership and the proposed member /
buyer / Transferee are as under:
Details of Transferor
Name
Address
Type
of
organisation
/ Individual / HUF / Partnership /
constitution
Corporate / Other
Date
of
approval
of
Membership
Member ID (if any)
UMC Code allotted by FMC (if
any)
Year
Turnover
Volume of Trading (Turnover)
for last 3 years (if any)
225
(Enclosed below)
Details of Transferee
I / We state that the above stated details are true and correct and I / We
understand that for any wrong statement I / We are liable for legal
action.
Thanking you,
Yours faithfully,
For _______________________________________(name of the Transferor)
___________________(Signature)
Name of the Signatory
Rubber Stamp
Place:
...................................
226
Encl:
Details of Transferee
1. Name
of
Applicant (full)
the
2. Registered
Office
Address
City:
State:
Pincode:
Telephone No.:
Fax No.: (with STD
Code)
Email:
Name of the contact
person(s):
Mobile No.:
3. Nationality
4. Constitution
Individual/
Registered
Partnership
Firm/ Private Ltd Co./ HUF/
Public Ltd Co. / Institution/ Others
5. Date
of
incorporation/registr
ation
227
6. Income
Permanent
No.
Tax
Account
7. Present
business/occupation
8. Present Net worth
Rs...............................
on .........................
228
lakh
as
details of the
Yes/No
a)
Have
you
been
declared/rendered
incompetent to enter into contract under any law
Yes/No
in force in India?
b) Have you ever been declared a defaulter by
any Association or Exchange recognized by the Yes/No
Government under any law?
c) Whether any court case is pending against Yes/ No
applicant /
directors / partners?
d) Have you ever been pronounced guilty of a
criminal offence involving moral turpitude?
Yes/ No
Yes/No
g) Have you ever been involved in litigations,
suits or proceedings or have been involved in Yes/No
any financial liability of contingent or
unascertained nature?
h) Have you ever been at any time convicted of Yes/No
an offence involving fraud or dishonesty or
financial irregularities?
Yes/No
i) Have you ever been associated with or a
trading member of or subscriber to or a
shareholder or debenture holder of any other Yes/No
commodity/stock exchange?
j) Have you ever been denied / rejected
membership of any commodity/stock exchange
Yes/No
or commercial organization? If yes, when?
k) Have you committed any act which may
render you liable to be wound-up?
l) Have you ever been suspended / expelled /
declared a defaulter on any other commodity/
stock exchange or have been debarred from
trading in commodities/securities by any
229
11.
Membership Type
12. Commodities
Interested
_____________________________
(Signature of the Transferee
_______________________
(Rubber Stamp)
(Signature of the Transferee)
Name of the Signatory
Date: ...................................
Place:
...................................
The above facts have been verified by us and found to be true and
correct.
______________________
230
231
Annexure 2
(Rule 8.2.1)
Agreement for Transfer of Membership
.. . (Give details of
232
5. That the Transferor shall extend his/its full co-operation and sign
all such papers and documents as required.
6. That the Transferor and the Transferee agree and acknowledge
that they will execute an undertaking as per the format provided
by MCX.
7.
234
Authorized Signatory
Authorized Signatory
Name:
Name:
Title:
Title:
Date:
Witnesses:
Name & address:
Date:
Witnesses:
Name & address:
235
Annexure 3
(Rule 8.2.2)
Undertaking by Transferor
236
e. The Transferor hereby confirms and undertakes that he /she /it has
transferred/ proposed to transfer the membership right to the
Transferee for lawful consideration only.
f. The Transferor represents that he/she/it has cleared all the dues
along with all the liabilities, claims, demands and further undertakes
that there are no claims pending against it/him and if pending the
Transferor undertakes to pay and discharge the same before actual
transfer takes place. The Transferor undertakes to become a party to
the Arbitration or any of the proceedings in which a claim is made
along with the transferee for any claim or dispute on account of his
dealing, transaction, contracts and covenants in the capacity as a
member of MCX that had arisen before the actual transfer took place.
g. That the Transferor represents and undertakes that it had verified the
antecedents of the transferee and satisfied that the transferee is
qualified as per the Bye- Laws, Business Rules, Rules
and
requirements of MCX to become a member, and that he/it is fit and
proper.
h. The Transferor undertakes to remain liable even after the transfer is
effected for the commissions and omissions done by the transferor
prior to the date of transfer and undertakes that MCX has full right
and authority to take such actions against the Transferor as deemed
fit and proper under its Bye- Laws, Rules, Business Rules of the
Exchange including any circular, order, direction, notice, instruction
issued by MCX from time to time and undertake to abide by such
decisions of MCX;
i. The Transferor hereby confirms that in case of default of the
Transferor, he/she shall be liable to pay the dues of MCX out of his/its
personal or other assets. The Transferor further understands that in
case of default of the Transferor, MCX shall be legally entitled to
attach through due process of law the
personal, movable and
immovable, properties of the Transferor;
j. That the Transferor undertakes that as on date it/she/he has not
received any notice in connection with any insolvency proceedings or
creditors winding up proceedings and no proceedings are pending
against the Transferor.
k. The Transferor further represents that FMC or any commodity
exchange has not taken any disciplinary action against him/ it;
l. That without prejudice to the rights, remedies available to MCX upon
the Transferor's non-compliance with this Undertaking, the
Transferor shall indemnify and keep MCX indemnified against any
losses, damages, demands, charges or expenses, including attorneys
fees, suffered by MCX by virtue of transfer and on account of
violation of this undertaking ;
237
Name:
Signature:
Address:
Witnesses:
Name & address:
238
Annexure 4
(Rule 8.2.3)
Undertaking by Transferee
239
240
241
Annexure 5(a)
(Rule 8.2.4)
BOARD RESOLUTION (Transferee)
242
Annexure 5(b)
(Rule 8.2.4)
BOARD RESOLUTION (Transferor)
243
Annexure - 6
(Rule 8.2.5)
MEM/RD/05
Format of Networth Certificate
For
(Name
of
2.
4.
5.
6.
7
Advance / Investment with or debts due from persons / entities
notified under
Special Court (Trial of Offences Relating to Transactions in
Securities) Act, 1992 are to be excluded for the purpose of
computation of net worth.
246
Annexure 7
(Rule 8.2.)
MEM/RD/16
SHAREHOLDING PATTERN
(FOR CORPORATE)
Number of shares
held
(or
any
other
instrument)
%age of
total
100%
NOTES :
# In case of body corporate, give similar details thereof separately.
@ Persons holding 5% or more of the paid up capital should be shown
separately and not clubbed in Others.
1.
2.
DATE
PLACE:
SIGNATURE(s)
SIGNATURE(s)
DESIGNATED DIRECTORS
DESIGNATED DIRECTORS
WITH THEIR NAMES
NAMES
247
WITH
THEIR
Rubber stamp
stamp
248
Rubber
AUDITORS CERTIFICATE
This is to certify that the Shareholding in as given above, based on my/
our scrutiny of the books of accounts, records and documents is true and
correct to the best of my/our knowledge and as per information provided
to my/our satisfaction.
Place:
For (Name of Accounting Firm)
Date:
Name of the Partner
Chartered Accountant
Membership Number
Rubber stamp
249
MEM/RD/16
Name
Capital
in the
Firm
Share in
Profits
1
2
3
4
5
6
7
8
9
10
TOT
AL
100%
Share in
Losses
100%
Date:
Place:
Signature of Manaing
Partner(s)
Rubber stamp
CERTIFICATE
This is to certify that the Capital and Sharing Pattern of ______________
as given above, based on my/ our scrutiny of the books of accounts,
records and documents is true and correct to the best of my/our
knowledge and as per information provided to my/our satisfaction.
Date:
For (Name of Accounting Firm)
Place:
Name of Partner
Chartered Accountant
Member
ship Number
250
Rubber stamp
DPG-1:
Details of Dominant Promoter Group as on ________
S.
N
o
Nam
e
No of
Share
s*
Self
Relati
ve
Total
Amou
nt
Paid*
Self
% of
total*
Relati
ve
Self
Tota
l
Relati
ve
1
2
3
4
Total:
Date:
Place:
Signature(s)
CERTIFICATE
Place:
____________________________
Name of Proprietor / Partner
Stamp of the firm of Chartered Accountants
Membership Number:
*For arriving at the shareholding of persons constituting the Dominant
Promoter Group the shareholding of close relatives, namely parents,
spouse, children and their descendants, brothers, sisters and associates
only may also be counted provided these relatives give an irrevocable,
unconditional support in writing on the prescribed format of Exchange.
251
252
DPG-2:
Undertaking from Relative of Persons constituting DPG (Dominant
Promoter / Partner Group)
{Each relative is to submit separate copy of this disclosure in the form
of Annexure }
I,
Mr. /Ms. / Mrs. _______________, son / daughter / wife of
________________________
resident
of
_____________________
__________________________ declare that
I am the absolute owner of ________________ (Number of shares) Shares
of Rs.________________ each of Rs._____ per share paid up, which
constitutes________ % of the total paid up capital of the
company____________________ Private Limited / Limited _____________ as on
this date.
OR*
I am partner in the Partnership Firm__________________________ For
sharing profit and loss to the extent of ____% as as_______ (Date)
* Strike out whichever is not applicable.
I state that I shall irrevocably and unconditionally support in respect of
my
Shareholding / sharing pattern. Mr. / Mrs.____________________, a
shareholder / partner in the above mentioned company / partnership
firm. I further state that I have no objection to my above mentioned
shareholding / sharing pattern being clubbed with the shareholding /
sharing pattern of Mr / Mrs____________________ who is my_____________
(give relationship with the latter) for the purpose of determining the
dominant promoter / partner group of the said Company / Partnership
Firm
This support is irrevocable and I also undertake to give prior information
to the Multi Commodity Exchange of India Limited before selling or
otherwise transferring my part or whole of my above mentioned
shareholding / sharing pattern.
WITNESS BY:
(1)Name:
(2) Name:
Address:
Address:
Signature:
Signature:
Place:
Place:
Date:
Date:
253
CERTIFICATE
This is to certify that the shareholding / sharing pattern of
______________________ as indicated above, based on my / our
scrutiny of the books of accounts, records and documents is
true and correct to the best of my/ our knowledge and as per
information provided to my / our satisfaction.
Date:
Place:
____________________________
Name of Proprietor / Partner
Chartered Accountants
Membership Number:
Stamp of the firm
*For arriving at the shareholding of persons constituting the Dominant
Promoter Group the shareholding of close relatives, namely parents,
spouse, children and their descendants, brothers, sisters and associates
only may also be counted provided these relatives give an irrevocable,
unconditional support in writing on the prescribed format of Exchange.
254
DPG-2:
UNDERTAKING FROM CORPORATES SUPPORTING
WITNESS BY:
(1) Name:
(2) Name:
Address:
Address:
Signature:
Place:
Date:
Signature:
Place:
Date:
255
CERTIFICATE
This is to certify that the shareholding of _______________ as mentioned
below, based on my /our scrutiny of the books of accounts, records and
documents.
We further certify that the information given above is true and correct to
the best of our knowledge and as per the information provided to our
satisfaction.
Sr
No
Date:
Place:
Accountant Firm
256
Annexure 8
(Rule 8)
Public Notice
Transfer of Membership
Name of Member
Address
Member of
MCX
Registered Office: Exchange Square,
255, Suren Road, Chakala, Andheri (East),
Mumbai 400 093.
NOTICE is hereby given that Mr./Ms./M/s. ____________________
________________________, Member of MCX having Membership ID No.
____________ and Forward Markets Commission, Unique Member Code
No. as ____________ are applying / have applied to MCX for transfer of
our Membership.
Any client/person having any claim / dispute / grievance against us
arising out of our transactions in commodities futures through MCX may
furnish details of his / their claim in writing to the Membership
Department of the Exchange (MCX) at the Registered Office address
indicated above, enclosing therewith all supporting documents, within 15
days of the publication of this Notice.
For ____________________ (Trade Name of the Member).
Signature of the Authorized Person
Name of the Authorized Signatory
Designation
Date:
Place:
------------------------------------------------
257
Annexure - XX
(Part A)
Date:
To
The Membership Department,
Multi Commodity Exchange of India Ltd. (MCX),
401, Boston House, 4th Floor,
Suren Road, Chakala,
Andheri (East),
Mumbai 400 093.
Dear Sir,
Sub: - Surrender of Trading-cum Clearing Membership of MCX
Name of the member:
Member ID:
FMC Unique Member Code:
This is with reference to the captioned subject,
1. I/We hereby apply for surrender of my/our Trading-cum Clearing
Membership of the Exchange.
2. *The Board of Directors of our company at its meeting held on
___________ has decided to surrender our Trading-cum-Clearing
Membership of the Exchange. The certified copy of the relevant Board
resolution is enclosed.
OR
*The Partners of our firm at its meeting held on ___________ has decided
to surrender our Trading-cum-Clearing Membership of the Exchange.
3. I/We hereby declare that:
i.
ii.
iii.
1
positions
as
on
the
date
of
this
258
iv.
v.
Further, I/ We state that the above mentioned details are true and correct
and I/We understand that for any wrong statement I/We are liable for legal
action.
Kindly approve our application for surrender of our Trading-cum-Clearing
membership.
Thanking you,
Yours sincerely,
1. __________________________ (Signature with rubber stamp of the entity)
2. __________________________ (Signature with rubber stamp of the entity)
Encl:
i. Original Membership Certificate
ii. Board Resolution, in case of Corporate Members
iii. Letter of Authority from all partners authorizing a partner/ Managing
Partner
Notes:
260
Annexure - XX
(Part B)
Suggested format of Board resolution for Surrender of Trading-cumClearing Member
261
Specimen Signature
Annexure - XX
(Part C)
Letter of authority
To
Multi Commodity Exchange of India Ltd
Exchange Square, 255, Suren Road,
Chakala, Andheri (East),
Mumbai-400093.
Dear Sir/Madam,
We, the partners, of ____________________________ (name of the firm) vide
our meeting held on _____________ have agreed to surrender our Tradingcum-clearing Membership of Multi Commodity Exchange of India.
Further, Mr/Mrs __________________and Mr/Mrs ________________ Partner(s)
of the firm are authorized to sign jointly, singly or severally all the
necessary applications, undertakings and such other documents as may
be necessary for surrendering the Tradingcum-Clearing Membership of
Multi Commodity Exchange of India Limited.
Specimen Signature of all
Partners
Date
Place
Rubber Stamp of the Firm
262
Annexure - XX
(Part D)
Format of Advertisement for Surrender of Trading-cum-Clearing
Membership
263
Annexure - XXI
(Part A)
Annexure I
(Rule 8A)
To be submitted on Non-judicial stamp paper of Rs. 100/- & to be
Notarized
Affidavit by the attesting witness to the Will
264
(To be countersigned)
265
Annexure - XXI
(Part B)
Annexure II
(Rule 8A)
No objection Certificate to be submitted by Legal Heirs of the deceased
in favor of the Applicant/s
Date:
To,
Multi Commodity Exchange of India Limited,
Exchange Square, 255, Suren Road,
Chakala, Andheri (East),
Mumbai 400 093
Reg. Transmission of Membership of late
__________________________ (Membership Id__________) in favor
of ________________.
I
_________________,
am
(mention
relationship)
of
late_____________________, who was member of the Exchange under
Membership ID _____________ and who expired on _______________.
I hereby agree and consent that I have no objection whatsoever in
transmission of said Membership of Exchange to the name of
_________________________, (mention relationship) of ___________________,
who has applied for the same to the Exchange.
I confirm that neither myself nor my successors, shall have any claim
or right or challenge the grant of membership to the applicant in any
manner whatsoever.
__________________________
Signature of legal heir
Name ________________________
Address ______________________
Signed in presence of
Witness 1
Witness 1
Signature: ________________
Signature: _____________
Name: ___________________
Name: ________________
Address: _________________
Address: ______________
266
(To be countersigned)
267
Annexure - XXI
(Part C)
Annexure III
(Rule 8A)
To be submitted on Non-judicial stamp paper of Rs. 300/- & to be
Notarized
Undertaking for Transmission of Membership
3.
4.
5.
6.
7.
8.
9.
10.
The Applicant undertakes that he/she shall remain liable for the
commissions and omissions done by him/her and undertakes
269
that MCX has full right and authority to take such actions
against the Applicant as deemed fit and proper under the
provisions of Bye Laws, Rules and Business Rules of the
Exchange including any Circular, Order, Direction, Instruction
issued by MCX from time to time and the Applicant undertakes
to abide by such decisions of MCX.
11.
12.
13.
14.
15.
16.
The Applicant does hereby confirm that the information provided in this
undertaking is true and correct to the best of his knowledge and belief.
Signature: __________________________
270
Name: _____________________________
Address:____________________________
Witness:
Witness 1
Signature: ________________
Name: ___________________
Address: _________________
Witness 1
Signature: __________________
Name: _____________________
Address: ___________________
(To be countersigned)
271
Annexure - XXI
(Part D)
Annexure IV
(Rule 8A)
MEM/RD/05
Format of Networth Certificate
272
O. Net worth (H + K + L) (M + N)
Notes:1.
2.
3.
4.
5.
274
6.
7
Advance / Investment with or debts due from persons / entities
notified under
Special Court (Trial of Offences Relating to Transactions in
Securities) Act, 1992 are to be excluded for the purpose of
computation of net worth.
275
Annexure XXII
Fill-up all blanks in the Application form (Dont keep any column
blank)
For Cancellation of User ID, kindly mention the date on which you
are sending the application and arrange to send the application on
the same day by fax or by courier. (Any application receives after
the date mentioned in application will not be processed.).
A member who does not own or has not paid for a VSAT/Leased
Line shall be entitled to get only one Approved User registered
without the payment of any charge. Such member shall not be
entitled to get additional Approved User registered until the
member obtains a VSAT/ Leased line.
Entire Annexure XXII inserted vide Circular No. MCX/395/2006 dated 16/9/2006.
276
Annexure-1
MEM/RE/12
(On Members Letter-Head)
Application for approval as Approved User
Regd. Office
Head Office
Dealing Office Address
Address:
City
State
Fax No
E-Mail ID:
2. Name of the person for
whom this application for
allotment of user ID is
made (expand all initials)
3. Age of approved user
4. Fathers name of
277
Pin
Code
Phone
No
Mobile
No
Approved user
5. Address of the Approved Address :
user
City
State
Fax
No
E-Mail ID:
6. Qualification of
Approved user
7. PAN of Approved user
or
Copy of
Application for PAN
8. Nationality of Approved
user
9. Relationship of the
proposed User with the
Member i.e. an
employee, agent on
commission basis, client
or others.(Pls. specify)
10. Mode of connectivity
for trading from the
office where terminal is
located.(from where the
proposed User would
operate)
11. VSAT/Leased Line IP
Address
12. User ID to be used on
Internet (In case of
Application for
VSAT/Leased Line User
ID)
13. No. of Existing User
IDs at the above
VSAT/Leased line
Pin
Code
Phone
No
Mobile
No
o VSAT ID
o Lease Line ID
o Internet
278
User
ID
so
allotted
would
be
used
by
the
said
Mr./Ms.
279
Annexure- II
(On the letter head of the member)
Trading through Internet
To,
The Membership Department
Multi Commodity Exchange of India Limited
Exchange Square,
255, Suren Road, Chakala,
Andheri (East),
Mumbai 400 093
Dear Sir,
Trading through Internet
This has reference to your circular no. MCX/019/2006 dated January 14,
2006.
I have ___ user IDs of which ___ user IDs are accessing the trader
workstation through Internet.
A list of those user Ids, listed as under, may please be allowed to log-in
through the internet:
S. No.
User ID
Yours faithfully
For (name of the member)
(Authorised Signatory)
Name of the Authorised Signatory
280
Location
Annexure-III
UNDERTAKING FOR USER ID
______________________________
_______________________________
______________________________
281
Annexure- IV
MEM/RE/12
(On Members Letter-Head)
Application for Cancellation of Approved User
Approved Signatory
(Designated Director / Managing Partner / Proprietor / Karta)
Date:
Place:
Note:
User IDs shall be deleted after the Exchange is satisfied that
the same can be deleted and at the discretion of the Exchange.
282
Annexure-V
MEM/RE/12
(On Members Letter-Head)
Application for Change of Approved User
Existing User
Name
Reason
a. Regd. Office
b. Head Office
c. Dealing Office Address
where terminal is
to be located.
Address :
City
State
Fax No
E-Mail ID:
1. Name of the person for
whom this application
for Change of User ID is
made (expand all
initials)
2. Age of approved user
283
Pin Code
Phone
No
Mobile
No
3. Fathers name of
approved user
4. Address of approved
user
5. Qualification of
approved user
6. Relationship
of
Address:
City
Pin Code
State
Phone No
Fax No
E-Mail ID:
Mobile No
the
i.e.
an
employee,
agent
on
where terminal is
located. (from where the
proposed User would
operate)
10. User ID to be used on
Internet (In case of
VSAT/Leased Line User
ID)
11. VSAT/Leased Line IP
Address
I / We hereby agree and bind myself/ourselves to be responsible for all
acts, quotations made and transactions done or effected by the said Mr. /
Ms. ______________________ as our Approved User on the Trading System
of the Multi Commodity Exchange of India Limited (MCX). In case of the
said Mr./ Ms.______________________________ ceasing to be associated with
us, I / We shall communicate to you the same along with related details
and seek change/cancellation in the User ID so allotted against this
284
User
ID
in
the
name
of
the
said
further
certify
that
Ms._____________________________________________
Mr.
is
/
not
285
Annexure-VI
(On Members Letter-Head)
Application for Mapping of Member Administrator/Approved Users to
the mode of connectivity
Member
ID
User
ID
Approved
User Name
Mode of
Connectivity
(VSAT/Leased
Line/ Internet)
IP
Address
Place:
287
Annexure - XXIII
HDFC Bank
ADDRESS:
CONTACT PERSON:
CONTACT DETAILS:
Entire Annexure XXIII inserted vide circular No.MCX/227/2005 dated 17/6/2005 w.e.f. 28/6/2005.
288
List A
Sr No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
1
Symbol
ABB
ACC
ADANIENT
ADANIPOWE
R
AMBUJACEM
ASHOKLEY
ASIANPAINT
AXISBANK
BAJAJ-AUTO
BANKBAROD
A
BANKINDIA
BHARATFOR
G
BHARTIARTL
BHEL
BPCL
CAIRN
CANBK
CIPLA
COALINDIA
CROMPGREA
V
CUMMINSIN
D
DABUR
DIVISLAB
DLF
DRREDDY
ESSAROIL
EXIDEIND
FEDERALBN
K
GAIL
GLAXO
GLENMARK
GMRINFRA
GRASIM
HCLTECH
Revised the list vide Exchange Circular No.MCX/ C&S/009/2012 dated 10/01/2012 w.e.f. 16/01/2012
289
35
36
HDFC
HDFCBANK
37
HDIL
HEROMOTO
CO
HINDALCO
HINDPETRO
HINDUNILVR
ICICIBANK
IDBI
IDEA
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
IDFC
INDIABULLS
INDUSINDBK
INFY
IOC
ITC
JINDALSTEL
JPASSOCIAT
JSWSTEEL
KOTAKBANK
LICHSGFIN
LT
LUPIN
M&M
MARUTI
MCDOWELLN
MUNDRAPOR
T
NATIONALU
M
NESTLEIND
NHPC
NMDC
NTPC
ONGC
PFC
PNB
POWERGRID
RANBAXY
RCOM
RECLTD
RELCAPITAL
RELIANCE
RELINFRA
Zone
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
RPOWER
SAIL
SBIN
SESAGOA
SIEMENS
SRTRANSFIN
STER
SUNPHARMA
SUZLON
TATACHEM
TATACOMM
TATAGLOBAL
TATAMOTOR
S
TATAPOWER
TATASTEEL
TCS
TITAN
ULTRACEMC
O
UNIONBANK
UNIPHOS
UNITECH
WIPRO
YESBANK
ZEEL
LIST - B
Sr
No
1
2
3
4
5
6
7
8
9
10
11
12
13
Symbol
3IINFOTECH
3MINDIA
A2ZMES
AANJANEYA
ABAN
ABBOTINDIA
ABGSHIP
ABIRLANUV
O
ACE
ADHUNIK
ADVANTA
AEGISCHEM
AHMEDFOR
GE
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
AIAENG
AJANTPHAR
M
AJMERA
AKZOINDIA
ALBK
ALCHEM
ALFALAVAL
ALOKTEXT
AMAR
AMARAJABAT
AMRUTANJA
N
AMTEKAUTO
AMTEKINDIA
ANANTRAJ
ANDHRABAN
K
ANDHRSUGA
R
ANSALAPI
APIL
APLAPOLLO
APOLLOHOS
P
APOLLOTYRE
APPAPER
APTECHT
AREVAT&D
ARSHIYA
ARSSINFRA
ARVIND
ASTRAL
ATFL
ATLANTA
ATLASCYCLE
ATUL
AUROPHARM
A
AUTOIND
AVENTIS
BAJAJCORP
BAJAJELEC
BAJAJFINSV
BAJAJHIND
BAJAJHLDNG
BAJFINANCE
BALKRISIND
BALLARPUR
93
BALMLAWRI
E
BALRAMCHI
N
BARTRONICS
BASF
BATAINDIA
BAYERCROP
BBL
BEL
BEML
BERGEPAINT
BFUTILITIE
BGRENERGY
BHARTISHIP
BHUSANSTL
BINANIIND
BINDALAGR
O
BIOCON
BLUEDART
BLUESTARC
O
BOC
BOMDYEING
BOSCHLTD
BRFL
BRITANNIA
BSTRANSCO
M
CADILAHC
CAMLIN
CANFINHOM
E
CARBORUNI
V
CAREERP
CASTROL
CEATLTD
CENTRALBK
CENTURYTE
X
CESC
CHAMBLFER
T
CHENNPETR
O
94
CHOLAFIN
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
CLNINDIA
CMC
COLPAL
CONCOR
COREEDUTE
C
COROMAND
EL
CORPBANK
COSMOFILM
S
COX&KINGS
CRISIL
CUB
DBCORP
DBREALTY
DCB
DCHL
DEEPAKFERT
DELTACORP
DEN
DENABANK
DEWANHOU
S
DHAMPURSU
G
DHANBANK
DHANUKA
DIAPOWER
DISHMAN
DISHTV
DREDGECOR
P
ECLERX
EDELWEISS
EDUCOMP
EICHERMOT
EIDPARRY
EIHOTEL
EKC
ELDERPHAR
M
ELECON
ELECTCAST
ELGIEQUIP
EMAMILTD
ENGINERSI
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
N
ENIL
ERAINFRA
EROSMEDIA
ESABINDIA
ESCORTS
ESSDEE
EVEREADY
EVERESTIN
D
EVERONN
FAGBEARIN
G
FCH
FDC
FINANTECH
FINCABLES
FINPIPE
FLEXITUFF
FORTIS
GATI
GDL
GEODESIC
GEOJITBNPP
GEOMETRIC
GESHIP
GHCL
GICHSGFIN
GILLETTE
GIPCL
GITANJALI
GLODYNE
164
GMDCLTD
165
GNFC
GODFRYPHL
P
GODREJCP
GODREJIND
GODREJPRO
P
GPIL
GPPL
GRAPHITE
GRAVITA
GREAVESCO
T
GRINDWELL
135
136
137
138
139
140
141
142
143
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
GRUH
GSFC
GSKCONS
GSPL
GTL
GTOFFSHOR
E
GUJALKALI
GUJFLUORO
GUJNRECOK
E
GUJRATGAS
GULFOILCO
R
GVKPIL
HANUNG
HATHWAY
HAVELLS
HCC
HCIL
HCL-INSYS
HEG
HEIDELBER
G
HERCULES
HEXAWARE
HFCL
HINDCOPPE
R
HINDOILEXP
HINDUJAVE
N
HINDZINC
HITACHIHO
M
HMT
HONAUT
HOTELEELA
HSIL
HTMEDIA
HUBTOWN
HYDRBADIN
D
IBREALEST
ICRA
ICSA
IFBIND
IFCI
IGL
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250
251
252
253
254
255
256
257
258
259
260
IL&FSTRAN
S
INDHOTEL
INDIACEM
INDIAGLYCO
INDIAINFO
INDIANB
INDRAMEDC
O
INDSWFTLA
B
INEABS
INGERRAND
INGVYSYABK
INOXLEISUR
INSECTICID
INVENTURE
IOB
IPCALAB
IRB
ITI
IVRCLINFRA
J&KBANK
JAGRAN
JAICORPLTD
JAYSREETEA
JBCHEPHAR
M
JBFIND
JETAIRWAYS
JINDALPHOT
JINDALPOLY
JINDALSAW
JINDALSWH
L
JINDRILL
JISLJALEQS
JKCEMENT
JKIL
JKLAKSHMI
JKPAPER
JKTYRE
JMFINANCIL
JPINFRATEC
JPPOWER
JSL
JSWENERGY
JUBILANT
JUBLFOOD
261
262
263
264
265
266
267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
299
300
JUBLINDS
JYOTHYLAB
JYOTISTRUC
KAJARIACER
KALINDEE
KALPATPOW
R
KANSAINER
KARURVYSYA
KEC
KEMROCK
KERNEX
KESORAMIN
D
KFA
KKCL
KPIT
KRBL
KSCL
KSK
KTKBANK
KWALITY
L&TFH
LAKSHVILAS
LAOPALA
LAXMIMACH
LGBBROSLT
D
LIBERTSHOE
LITL
LOVABLE
LUMAXIND
M&MFIN
MADRASCE
M
MAHABANK
MAHLIFE
MAHSEAMLE
S
MANAPPURA
M
MANDHANA
MANGCHEF
ER
MANGLMCE
M
MANINDS
MARG
301
302
303
304
305
306
307
308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
MARICO
MASTEK
MAX
MCLEODRUS
S
MERCATOR
MERCK
MHRIL
MICROTECH
MINDTREE
MMTC
MOIL
MONNETISP
A
MONSANTO
MOSERBAER
MOTHERSU
MI
MPHASIS
MRF
MRPL
MTNL
MUNJALAU
MUNJALSHO
W
MUTHOOTFI
N
MYSOREBAN
K
NATCOPHAR
M
NAUKRI
NAVINFLUO
R
NAVNETPUB
L
NBVENTURE
S
NCC
NDTV
NESCO
NEYVELILIG
NFL
NIITLTD
NIITTECH
NITINFIRE
NOCIL
NOIDATOLL
Marico Limited
Mastek Limited
Max India Limited
Mcleod Russel India Limited
Mercator Limited
Merck Limited
Mahindra Holidays & Resorts India Limited
Micro Technologies (India) Limited
MindTree Limited
MMTC Limited
MOIL Limited
Monnet Ispat Limited
Monsanto India Limited
Moser-Baer (I) Limited
Motherson Sumi Systems Limited
MphasiS Limited
MRF Limited
Mangalore Refinery and Petrochemicals
Limited
Mahanagar Telephone Nigam Limited
Munjal Auto Industries Limited
Munjal Showa Limited
Muthoot Finance Limited
State Bank of Mysore
Natco Pharma Limited
Info Edge (India) Limited
Navin Fluorine International Limited
Navneet Publications India Limited
Nava Bharat Ventures Limited
NCC Limited
New Delhi Television Limited
Nesco Limited
Neyveli Lignite Corporation Limited
National Fertilizers Limited
NIIT Limited
NIIT Technologies Limited
Nitin Fire Protection Industries Limited
NOCIL Limited
Noida Toll Bridge Company Limited
299
339
340
341
342
343
344
345
346
347
348
349
350
351
352
353
354
355
356
357
358
359
360
361
362
363
364
365
366
367
368
369
370
371
372
373
374
375
376
377
378
379
OBEROIRLTY
OFSS
OIL
OMAXE
OMNITECH
ONELIFECAP
ONMOBILE
OPTOCIRCUI
ORBITCORP
ORCHIDCHE
M
ORIENTBAN
K
ORIENTPPR
ORISSAMIN
E
PAGEIND
PANTALOON
R
PAPERPROD
PARSVNATH
PATELENG
PATNI
PERSISTENT
PETRONET
PFIZER
PFOCUS
PFS
PGEL
PGHH
PHILIPCARB
PHOENIXLT
D
PIDILITIND
PIPAVAVDOC
PIRGLASS
PIRHEALTH
PLETHICO
PNBGILTS
POLARIS
POLYPLEX
PRAJIND
PRAKASH
PRAKASHCO
N
PRATIBHA
PRESTIGE
380
381
382
383
384
385
386
387
388
389
390
391
392
393
394
395
396
397
398
399
400
401
402
403
404
405
406
407
408
409
410
411
412
413
414
415
416
417
418
419
420
421
422
423
424
PRISMCEM
PROVOGUE
PSB
PSL
PTC
PUNJLLOYD
PVR
RADICO
RAINCOM
RAJESHEXPO
RALLIS
RAMKY
RAYMOND
RBN
RCF
REDINGTON
REIAGROLTD
RELIGARE
RELMEDIA
RENUKA
REPRO
RIIL
ROLTA
RUCHISOYA
RUPA
RUSHIL
SADBHAV
SASKEN
SBBJ
SBT
SCI
SELAN
SELMCL
SGJHL
SHANTIGEA
R
SHIV-VANI
SHLAKSHMI
SHOPERSTO
P
SHREECEM
SHRIRAMCIT
SICAL
SINTEX
SJVN
SKFINDIA
SKUMARSYN
F
425
426
427
428
429
430
SMOBILITY
SOBHA
SOLARINDS
SONATSOFT
W
SOTL
SOUTHBANK
431
SPARC
432
433
434
435
436
437
438
439
440
441
442
443
444
SPIC
SREINFRA
SRF
SRSLTD
SSWL
STAN
STAR
STCINDIA
STERLINBIO
STRTECH
SUBEX
SUDAR
SUNDARAM
SUNDARMFI
N
SUNDRMFAS
T
SUNFLAG
SUNTECK
SUNTV
SUPREMEIN
D
SURANAIND
SWARAJENG
SYNDIBANK
TAJGVK
TALWALKARS
TATACOFFEE
TATAELXSI
TATAINVEST
TATAMETALI
TATAMTRDV
R
TATASPONGE
TDPOWERSY
S
TECHM
TECPRO
TEXMACOLT
445
446
447
448
449
450
451
452
453
454
455
456
457
458
459
460
461
462
463
464
465
S Mobility Limited
Sobha Developers Limited
Solar Industries India Limited
Sonata Software Limited
Savita Oil Technologies Limited
The South Indian Bank Limited
Sun Pharma Advanced Research Company
Limited
Southern Petrochemicals Industries
Corporation Limited
SREI Infrastructure Finance Limited
SRF Limited
SRS Limited
Steel Strips Wheels Limited
Standard Chartered PLC
Strides Arcolab Limited
The State Trading Corporation of India Limited
Sterling Biotech Limited
Sterlite Technologies Limited
Subex Limited
Sudar Garments Limited
Sundaram Multi Pap Limited
Sundaram Finance Limited
Sundram Fasteners Limited
Sunflag Iron And Steel Company Limited
Sunteck Realty Limited
Sun TV Network Limited
Supreme Industries Limited
Surana Industries Limited
Swaraj Engines Limited
Syndicate Bank
Taj GVK Hotels & Resorts Limited
Talwalkars Better Value Fitness Limited
Tata Coffee Limited
Tata Elxsi Limited
Tata Investment Corporation Limited
Tata Metaliks Limited
Tata Motors Limited
Tata Sponge Iron Limited
TD Power Systems Limited
Tech Mahindra Limited
Tecpro Systems Limited
Texmaco Limited
302
466
467
468
469
470
471
472
473
474
475
476
477
478
479
480
481
482
483
484
485
486
487
488
489
490
491
492
493
494
495
496
497
498
499
500
501
502
503
504
505
D
TEXRAIL
THANGAMAY
L
THERMAX
THOMASCOO
K
TI
TIDEWATER
TIMETECHN
O
TIMKEN
TINPLATE
TNPL
TORNTPHAR
M
TORNTPOWE
R
TREEHOUSE
TRENT
TRF
TRIVENI
TTKHEALTH
TTKPRESTIG
TTML
TUBEINVEST
TULIP
TV18BRDCST
TVSMOTOR
TWL
UBHOLDING
S
UBL
UCOBANK
UFLEX
UNICHEMLA
B
UNITEDBNK
USHAMART
USHERAGRO
UTTAMSTL
UTVSOF
VAKRANSOF
T
VARUN
VENKEYS
VENUSREM
VGUARD
VIDEOIND
506
507
508
509
510
511
512
513
514
515
516
517
518
519
520
521
522
523
524
525
VIJAYABANK
VIPIND
VISASTEEL
VIVIMEDLAB
VOLTAMP
VOLTAS
VSTIND
VTL
WABAG
WABCOINDIA
WALCHANNA
G
WELCORP
WHIRLPOOL
WOCKPHARM
A
WYETH
ZEELEARN
ZENSARTEC
H
ZUARIAGRO
ZYDUSWELL
ZYLOG
Vijaya Bank
VIP Industries Limited
Visa Steel Limited
Vivimed Labs Limited
Voltamp Transformers Limited
Voltas Limited
VST Industries Limited
Vardhman Textiles Limited
VA Tech Wabag Limited
WABCO India Limited
Walchandnagar Industries Limited
Welspun Corp Limited
Whirlpool of India Limited
Wockhardt Limited
Wyeth Limited
Zee Learn Limited
Zensar Technologies Limited
Zuari Industries Limited
Zydus Wellness Limited
Zylog Systems Limited
304
305
308
Type of
Security @
Unit Face
Value
Total no. of
securities
Remark
309
Remark
314
Date:
The Clearing and Settlement Department,
Multi Commodity Exchange of India Limited,
Exchange Square, 255, Suren Road,
Chakala, Andheri (East),
Mumbai 400093
Dear Sir,
Sub: Release of securities kept as additional margin deposit
Clearing Member Code: __________
We wish to withdraw the following securities kept as additional margin
deposit.
Sr. No. Symbol
Qty
Custodian
315
1)
If
If
Had the member given shares worth Rs. 650 lakhs under 3 ISINs,
(say Rs. 300.00 lakhs of shares of RIL, Rs. 250.00 lakhs of shares of
SBIN and Rs. 100.00 lakh of shares of L&T in above example 2,
then Rs. 300.00 lakhs would have been considered. This is because
316
only Rs. 100.00 lakh will be considered under one ISIN. Hence
total additional margin limits the member would enjoye will be Rs.
850.00 lakhs.
317
List of Commodities
S. No.
1.
2.
3.
4.
5.
6.
7.
1
8
Note:
Commodity
Black Pepper
Chana
Cumin Seed (Jeera)
Gold
Silver
Tur
Urad
Gold Guinea
Haircut / Margins
50 %
50 %
50 %
50 %
50 %
50 %
50 %
15%
318
2.
The Member shall place the Said WR(s) in the absolute disposition
of the Exchange for the purpose, in such manner as decided by MCX
and such disposition shall be indisputable notwithstanding the fact
that the Member may be permitted to have access to the Said WR(s)
in the manner and subject to such terms and conditions as
determined by MCX from time to time. The Member confirms,
affirms and covenants with MCX that he/it shall do all such acts and
things, sign such documents and pay and incur such costs, debts and
expenses as may be necessary without prejudice to any other
obligations, liabilities, duties which he/it owes as a Member.
3.
The Member declares and assures that all the Said WR(s) are in
existence, owned by him/it and free from any prior charge, lien or
encumbrance and further shall ensure that all the Said WR(s) over
which pledge may be created in future shall be in existence and
owned by him/it at the time of creation of such pledge and shall be
unencumbered, absolute and exclusive property of the Member.
4.
The Member agrees and undertakes that he/it shall not without the
prior written permission of MCX create any charge, lien or
encumbrance of any kind upon or over the Said WR(s) hereby
pledged or those which may hereafter be pledged except to MCX,
that the Member shall not suffer any such charge, lien or
encumbrance that may affect the Said WR(s) or any part thereof,
and further undertakes that he/it shall not do or allow anything to be
done that may prejudice the Said WR(s) while he/it remains liable to
MCX in any manner.
5.
7.
8.
321
9.
10. The Member agrees that MCX shall be entitled to sell, endorse or
negotiate or otherwise transfer the Said WR(s) and for the purpose
to execute transfer documents and/or any other necessary
documents, wherever applicable or other endorsements and that
MCX shall be entitled to receive from the Member all expenses
incurred by MCX for the aforesaid purposes.
11. The Member agrees to pay promptly all such fees, charges and/or
costs pertaining to pledge of the Said WR(s) to the Exchange and to
execute such further documents whether of a legal nature or
otherwise as may be required by MCX for the purpose of giving
effect to the provisions of this Deed and also the Scheme for the
Deposit of Warehouse Receipts.
12. The Member agrees that the deposit of the Said WR(s) and the
pledge thereof shall not be affected in any manner whatsoever if
MCX takes any action against the Member including suspension or
expulsion or declaration of the Member as a defaulter.
13. The Member agrees that MCX shall not be under any liability
whatsoever to the Member or any other person for any loss,
damage, expenses, costs, etc., arising out of the deposit of the Said
WR(s) under these presents, in any manner, due to any cause,
whatsoever, irrespective of whether the Said WR(s) are in the
possession of MCX at the time of such loss or damage or the
happening of the cause thereof. The Member shall at all times
indemnify and keep indemnified MCX from and against all suits,
proceedings, costs, charges, claims and demands whatsoever that
may at any time arise or be brought or made by any person against
MCX in respect of any acts, matters and things lawfully done or
caused to be done by MCX in connection with the Said WR(s) and/or
underlying commodities or in pursuance of the rights and powers of
MCX under this Deed.
14. The Member undertakes that the deposit of the Said WR(s) and the
pledge thereof and any pledge of warehouse receipts of the
approved commodities that may be created shall be binding on the
Member as continuing and that the same shall not be prejudiced by
any failure on the part of the Member to comply with the Rules, Byelaws or Business Rules of MCX or any other terms and conditions
attendant to the Membership of MCX and that MCX shall be at
liberty to enforce its rights hereunder, notwithstanding its rights
against the Member hereunder or under its Rules, Bye-laws and
Business Rules including amendments thereof or in relation to the
Said WR(s) or to any other security now or hereafter held or taken
at any time irrespective of any variation, amendment, change or
alteration of any terms or conditions in general or as applicable to
the Member in particular.
322
15. The executants hereby declare that he/it has been duly authorized
to execute this Deed by way of Board Resolution of the Member
(only in case of corporate members) as per the copy of Board
Resolution annexed hereto.
16. This Deed shall be governed by and construed and interpreted in
accordance with the laws of India and the courts in Mumbai shall
have exclusive jurisdiction on all matters arising out of this Deed.
Executed at _____________ on the day, month and year above mentioned.
Signed, sealed and delivered by the within named Member **
________________________
In the presence of witnesses
1.
2.
* Strike out whichever is not applicable
**
a.
b.
c.
To be signed by
The individual if the membership is in his/her name.
All partners in case of a Partnership firm.
By any two of the following persons in the case of a Company:
a)
Managing Director
b)
Whole-time Director
c)
Directors (authorized by Board Resolution for the purpose)
SCHEDULE
Commodit
y
W
R
No
.
Issuing
Warehouse
with
address
Quality QC
Assayer
Reference,
validity
date
323
Value
of WR
Remark
s
2.
The Pledgor shall place the Said WR(s) in the absolute disposition
of the Exchange for the purpose, in such manner as decided by
MCX and such disposition shall be indisputable notwithstanding
the fact that the Pledgor may be permitted to have access to the
Said WR(s) in the manner and subject to such terms and
conditions as determined by MCX. The Pledgor further confirms,
affirms and covenants with MCX that he/she shall do all such acts
and things, sign such documents and pay and incur such costs,
debts and expenses as may be necessary without prejudice to any
other obligations, liabilities, duties which the Member owes as a
Member of MCX.
3.
The Pledgor declares and assures that all the Said WR(s) are in
existence, owned by him/her and free from any prior charge, lien
or encumbrance and shall ensure that all the Said WR(s) over
which pledge may be created in future shall be in existence and
owned by him/her at the time of creation of such pledge and shall
be unencumbered, absolute and exclusive property of the Pledgor.
4.
The Pledgor agrees and undertakes that he/she shall not without
prior written permission of MCX, create any charge, lien or
encumbrance of any kind upon or over the Said WR(s) hereby
pledged or that may hereafter be pledged except favoring MCX,
325
that he/she shall not suffer any such charge, lien or encumbrance
that may affect the Said WR(s) or any part thereof, and further
undertakes that he/she shall not do or allow anything to be done
that may prejudice the Said WR(s) while he/she remains liable to
MCX in any manner.
5.
6.
7.
8.
9.
10. The Pledgor agrees that MCX shall be entitled to sell, negotiate or
otherwise transfer the Said WR(s) and/or underlying commodities
and for the purpose to execute transfer documents and/or any
other necessary documents, wherever applicable or other
endorsements and that MCX shall be entitled to receive from the
Pledgor all expenses incurred by MCX for the aforesaid purposes.
11. The Pledgor agrees to pay promptly all such fees, charges and/or
costs pertaining to pledge of the said WR(s) to the Exchange and
to execute such further documents whether of a legal nature or
otherwise as may be required by MCX for the purpose of giving
effect to the provisions of this Deed and also the Scheme for the
Deposit of Warehouse Receipts of approved commodities.
12. The Pledgor agrees that the deposit of the Said WR(s) and the
pledge thereof shall not be affected in any manner whatsoever if
MCX takes any action against the Member including suspension
or expulsion or declaration of the Member as a defaulter.
13. The Pledgor agrees that MCX shall not be under any liability
whatsoever to the Pledgor or any other person for any loss,
damage, expenses, costs etc arising out of the deposit of the Said
WR(s) under these presents, in any manner, due to any cause
whatsoever, irrespective of whether the Said WR(s) are in the
possession of MCX at the time of such loss or damage or the
happening of the cause thereof. The Pledgor shall at all times
indemnify and keep indemnified MCX from and against all suits,
proceedings, costs, charges, claims and demands whatsoever that
may at any time arise or be brought or made by any person
against MCX in respect of any acts, matters and things lawfully
done or caused to be done by MCX in connection with the Said
WR(s) and/or underlying commodities or in pursuance of the
rights and powers under this Deed.
14. The Pledgor undertakes that the deposit of the Said WR(s) and the
pledge thereof and any pledge of WR(s) that may be created shall
be binding on the Pledgor as continuing and that the same shall
not be prejudiced by the Members failure to comply with the
Rules, Bye-laws or Business Rules of MCX or any other terms and
327
W
R
No
.
Issuing
Warehouse
with
address
Quality QC
Assayer
Reference,
validity
date
328
Value
of WR
Remark
s
Date:
The Clearing and Settlement Department,
Multi Commodity Exchange of India Limited,
Exchange Square, 255, Suren Road,
Chakala, Andheri (East),
Mumbai 400093
Dear Sir,
Sub: Release of warehouse receipt(s) kept as additional margin
deposit
Clearing Member Code: __________
We wish to withdraw the following warehouse receipts of approved
commodities kept as additional margin deposit.
Sr. No. Commodity WR Issuing
No. Warehouse
with
address
Quality
Assayer
QC
Reference,
validity
date
WR
Value
329
1)
If
2)
If
If
Had the member given shares worth Rs. 650 lakh under 3 ISINs,
(say Rs. 300.00 lakh of shares of RIL, Rs. 250.00 lakh of shares of
SBIN and Rs. 100.00 lakh of shares of L&T) and WRs worth or Rs.
400 lakh in 3 commodities (say Rs. 125 lakh in Chana, Rs. 225
lakh in Jeera and Rs. 10 lakh in Silver) in above example 2, then,
Rs. 300.00 lakh would have been considered for equity shares and
Rs. 210.00 lakh will be considered for WRs.
This is because only Rs. 100.00 lakh will be considered under eq.
Shares of one ISIN and Rs. 100 lakh will be considered under WR
of one commodity.
Hence total additional margin limits the member would enjoye will
be Rs. 1060.00 lakh
331
Annexure - XXIV
Form No- I: Arbitration Application
To,
The Arbitration Division.
Multi Commodity Exchange of India Ltd.,
Exchange Square, 255, Suren Road,
Chakala, Andheri (East),
Mumbai 400 093
Sir(s),
I/We,
am/are
a
Member
of
the
Exchange/Constituent
of
__________*(Please mention name of Member). I/We hereby apply for
adjudication by arbitration of the claim, difference and dispute within the
meaning of the Bye laws, Rules and Regulations of the Exchange which
has arisen and is now pending between me and following person
a)
b)
c)
d)
e)
Name
Status
Address
:
Registered Office :
Contact Number :
Office
Residence :
Mobile No :
Fax No
Email
:
:
:
word)
Note:
The Applicant shall put his/her signature on all the pages of the
documents submitted along with this form and if the Applicant is s
firm/company, the rubber stamp of the firm/company shall be affixed on
all the pages. If the Applicant is a firm/company then the authorized
representative of the Applicant has to submit the authority letter/board
resolution as the case may be along with this form.
Five names are to be suggested from the list of persons eligible to act as
arbitrators
* Strike whichever is not relevant.
333
Address
Fax:
Office
AND
M/s __________________________________________________________
Respondent
Registered
__________________________________________________________________
Office
4.
Yours faithfully,
Signature
Date:
Place:
335
Respondent
Note: The Respondent shall put his/her signature on all the pages of the
documents submitted along with this form and if the Respondent is
a firm/company, the rubber stamp of the firm/company shall be
affixed on all the pages. If the Respondent is a firm/company/ten
the authorized representatives of the Respondent has to submit the
authority letter/board resolution as the case may be along with this
form.
TM stands for Member and C stands for Constituents
* Strike whichever is not relevant.
337
Name
Status
Address
:
Registered Office :
Contact Number :
Office
Residence :
Mobile No :
Fax No
Email
:
:
:
word)
Date:
Place:
338
Note:
The Applicant shall put his/her signature on all the pages of the
documents submitted along with this form and if the Applicant is s
firm/company, the rubber stamp of the firm/company shall be affixed on
all the pages. If the Applicant is a firm/company then the authorized
representative of the Applicant has to submit the authority letter/board
resolution as the case may be along with this form.
Five names are to be suggested from the list of persons eligible to act as
arbitrators
* Strike whichever is not relevant.
339
Fax:
Office_________
AND
M/s
(W)*
____________________________________
Respondent
Fax:
Office_________
To,
Arbitration Division
Multi Commodity Exchange of India Limited
Mumbai
Sir/s,
In the said matter, the names of persons chosen by me/us as arbitrators
from the list of eligible persons to act as arbitrators are given below in
descending order of preference:
1)
2)
3)
4)
5)
Yours faithfully,
Signature
Date:
340
Place:
Note:
Five names are to be suggested from the list of persons
eligible to act as arbitrators C stands for Constituent and W
stands for Warehouse
341
Place:
Note: The Respondent shall affix the rubber stamp of the company on
all the pages. The authorized representatives of the Respondent has to
submit the authority letter/board resolution as the case may be along
with this form.
W stands for Warehouse and C stands for Constituents
* Strike whichever is not relevant.
343
Annexure - XXV
Format of Nomination
(Rule 8B)
Affix colored
Passport Size
Photograph of
nominee
( Sign across the
Photograph)
Name of Nominee :
Address of Nominee :
Date:
Place:
Signature of Witness :
Affix colored
Passport Size
Photograph of
witness
(Sign across the
Photograph)
Name of Witness:
Address of Witness:
Date:
Place:
344
Signature of Nominee:
Name of Nominee:
Address of Nominee:
Date:
Place:
Signature of Witness :
Affix colored
Passport Size
Photograph of
witness
(Sign across the
Photograph)
Name of Witness:
Address of Witness:
Date:
Place:
345
Annexure - XXVI
Format of Undertaking for reactivation of trading account
(To be taken on the letterhead in case of non-individual client)
Date: _____________
To,
Member Name,
Registered Office Address
Sir,
I/we ______________________________ (name of the client-Individual/Nonindividual), having trading account with Unique Client Code _________
allotted to me/us by your broking house situated at ____________ (branch
name) since __________ (date of activation of the account).
I/we am/are not trading in commodity futures contracts on the MCX
trading platform since ___________ (last trade date). However, I/we
am/are desirous to start trading again in commodity futures contracts on
the MCX platform. In this regard, you are requested to reactivate my/our
trading account and allow trading with immediate effect.
I/we hereby undertake that:
1. I/We have completed all the KYC formalities and submitted all the
required documents thereof (Proof of Identity, Address Proof, Bank
Proof, PAN, etc.), at the time of opening the trading account
originally and enrolling as a client with you.
2. There are no changes in respect of my/our Address, Bank account,
PAN details, as provided to you earlier. Further, there is no
material change in the other information provided to you in KYC
Form.
I/we declare that the information given above is true to my/our
knowledge. I/we, therefore, request you that the requirement of fresh
KYC may not be insisted upon.
Yours Faithfully,
______________
(Name of the Individual Client)
Or
For (Name of the Non-individual client)
_________________
346
347
Annexure - XXVII
1
To,
(Name of the member with exchange)
Dear Sir,
I, __________________________________________ a client
M/s._____________________________________________
_______________________ Exchange undertake as follows:
with
Member
of
[The above declaration has been read and understood by me. I am aware
of the risk involved in dispensing with the physical contract note, and do
hereby take full responsibility for the same]
(The above lines must be reproduced in own handwriting of the client.)
__________________________________________________________________________
__________________________________________________________________________
Client Name: _____________________________________________
Unique Client Code : ________________________________
PAN: _______________________________________
Address : __________________________________________________
Signature of the client
Date :
Place:
1
348
349
Annexure XXVIII
CLEARING MEMBER CUSTODIAL PARTICIPANT
AGREEMENT
(To be executed on non-judicial stamp paper of appropriate value
Rs 300 in Maharashtra)
This agreement is made on this ___________ day of ______ 20__,
between ______________, a company/ partnership firm/ individual
having registered office / office / residence at ___________________
(hereinafter called Clearing Member) which expression shall unless
repugnant to the context or meaning thereof include its successors,
legal representatives and permitted assigns and ____________________,
a company / partnership firm/ individual having its registered office/
office/ residence at ___________________ (hereinafter called Custodial
Participant or CP) which expression shall unless repugnant to the
context or meaning thereof include its successors, legal
representatives and permitted assigns).
Whereas
(a)
2.1
2.2
2.3
3.2
3.3
3.4
3.5
3.6
3.7
3.9
3.10
4.2
4.3
4.4
4.5
4.6
4.7
5.2
5.3
5.4
5.5
5.6
5.7
5.8
The CP shall do all such acts, deeds and activities that are
necessary for the purpose of strict compliance with the Rules,
Bye Laws and Business Rules of MCX by the Clearing Member.
5.9
members through whom the CP trades at such time and also to the
Clearing House of the Exchange. The Clearing Member shall
further request the Clearing House of the Exchange for
cancellation of the CP code allotted to the Custodial Participant,
with effect from the date and time at which this agreement is
terminated. Such cancellation or termination shall not have any
effect on transactions executed before the time and date of
termination and the parties shall enjoy the same rights and shall
have same obligations in respect of such executed transactions.
7.
Mode of Communication
Any communication between the Clearing Member and the CP shall
be made in any one or more of the following ways:
(a) sending through electronic mail
(b) delivering by post
(c) sending by registered post
(d) sending under certificate of posting
(e) sending by express delivery post / courier services
(f) sending by telegram
(g) sending by fax
(h) affixing on the door at the last known business or residential
address
(i) advertising at least once in any prominent daily newspaper
8. Force Majeure
No liability shall result to either party for delay in performance or
non-performance of the obligations under the agreement caused and /
or contributed to by any event of force majeure. For purposes of this
clause, "force majeure" means and includes wars, insurrections,
revolution, fires, floods, epidemic, quarantine restrictions, declared
general strikes in relevant industries, act of God, act of
governmental / statutory / regulatory / legal authority and such other
acts or events beyond the control of the non-performing party.
9.
No assignment
Neither party shall be entitled to assign or otherwise transfer this
agreement or any benefits, rights, obligations or interests herein
whether in whole or in part to any other agency without the prior
written consent of the other.
10. Non-waiver
No forbearance, delay or indulgence by either party in enforcing the
provisions of this agreement shall prejudice or restrict the rights of
that party nor shall any waiver of its rights operate as a waiver of any
subsequent breach and no rights, powers, remedies herein conferred
upon or reserved for either party is exclusive of any other right,
power or remedy available to that party and each right, power or
remedy shall be cumulative.
355
11. Arbitration
11.1 All disputes, differences or questions arising out of or in relation to
the agreement including the interpretation of the terms contained
herein with regard to the obligations, failure or breach thereof by
any of the parties and / or of any matter whatsoever arising out of
the agreement, shall in the first instance be resolved mutually by
the parties.
11.2 If the parties fail to resolve the same mutually, then the same
shall be referred to the arbitration in accordance with the
Rules, Bye laws and Business Rules of MCX.
12. Jurisdiction
This agreement shall be subject to the exclusive jurisdiction of the
courts in ____________.
IN WITNESS THEREOF, the parties to this agreement have caused these
presents to be executed as of the day and year first above written.
Signed for and on behalf of
CLEARING MEMBER
By
Signature
Title
Witness
:
:
:
:
:
:
:
:
:
:
356
Annexure XXIX
APPLICATION FROM CLEARING MEMBER FOR ALLOTMENT OF
CUSTODIAL PARTICIPANT (CP) CODE
(On the letter head of the Clearing Member )
Date:
Multi Commodity Exchange of India Limited
Exchange Square 3rd Floor,
Suren Road, Chakala
Andheri (East), Mumbai 400 093
Dear Sir,
Sub: Allotment Of Custodial Participant (CP) Code
MemberCode _____________
FMC UMC. ________
We wish to inform you that we have been appointed as Clearing Member
by M/s (Name of Custodial Participant) who desires to trade through a
single or multiple trading members at MCX. The letter of Custodial
Participant confirming the appointment is attached herewith. Details of
the Custodial Participant are as follows:
Name of the Custodial Participant
Registered Office / Address
Name of contact
designation
person
&
No.
(if
PAN details
We will undertake clearing and settlement of the trades done on behalf
of the above mentioned Custodial Participant in MCX. We have entered
into an agreement dated_______ with M/s ___________ (Custodial
Participant) for the purpose, as required and a copy of the same is
attached.
We therefore request you to allot CP code and oblige.
Yours sincerely
Authorised Signatory
358
Annexure XXX
APPLICATION FOR CHANGE OF CLEARING MEMBER FROM THE
CUSTODIAL PARTICIPANT
Date:
Multi Commodity Exchange of India Limited
Exchange Square 3rd Floor,
Suren Road, Chakala
Andheri (East), Mumbai 400 093
Dear Sir,
Sub: Change of Clearing Member affiliation from
_____________ (Member Code ______ to ________( Member
Code_____ )
Ref: CP Code:
We wish to terminate the arrangement, in respect of clearing and
settlement of our trades on the Exchange, with the said clearing member
M/s. _____________, with effect from.__________ at close of market hours
M/s ________ another Clearing Member of the Exchange will take over all
our open positions from M/s ________ (outgoing Clearing Member), for
the purpose of settlement and clear and settle the trades done on the
Exchange, on our behalf with effect from. ___________(at start of market
hours).
We attach the following documents for effecting the change:
Letter dated ________ of M/s ________ (outgoing Clearing Member)
Letter dated ________ of M/s ________ (incoming Clearing Member)
Agreement dated_______ between M/s. ___________ (incoming Clearing
Member) and ourselves.
We, therefore, request that all our open positions be transferred from
_____ (outgoing Clearing Member) to ________ (incoming Clearing
Member) after the close of market hours of _________.
We forward this letter to you through M/s ____________ (incoming
Clearing Member).
Yours sincerely
Authorised Signatory
Cc to: Trading Member(s) through whom the CP shall trade
359
Annexure XXXI
NO OBJECTION LETTER FROM OUTGOING CLEARING MEMBER
(On the letterhead of the Outgoing Clearing Member)
Date:
Multi Commodity Exchange of India Limited
Exchange Square 3rd Floor,
Suren Road, Chakala
Andheri (East), Mumbai 400 093
Dear Sir,
Sub: NOC for Change of Clearing Member affiliation
Member Code _____________
FMC UMC ____________
It is agreed between M/s. _____________ (CP Name) (CP Code____________)
and ourselves to terminate the agreement dated for clearing and
settlement of the trades done on behalf the said Custodial Participant on
the Exchange with effect from. ___________ at close of market hours
We shall clear and settle the trades of the above said CP till ________(at
close of market hours). Accordingly, the obligation in respect of the
trades done on behalf of the said CP at the Exchange will be met by us
till the said date or when the CPs open positions are transferred to
another Clearing Member, whichever is later.
Yours sincerely
Authorised Signatory
360
Annexure XXXII
CONSENT LETTER FROM THE INCOMING CLEARING MEMBER
(On the letterhead of the Incoming Clearing Member)
Date:
Multi Commodity Exchange of India Limited
Exchange Square 3rd Floor,
Suren Road, Chakala
Andheri (East), Mumbai 400 093
Dear Sir,
Sub: Consent to act as Clearing Member for M/s __________
(Custodial Participants Name and Code))
Member Code _____________
FMC UMC registration No. ________
We wish to inform you that we have been appointed as Clearing Member
for M/s ______
in respect of his trades through a single or multiple
trading members at the Exchange. Details of the Custodial Participant
are as follows:
Name
of
the
Custodial
Participant
Registered Office / Address
Name of contact person
designation
Telephone No. & Fax No.
&
Yours sincerely
Authorised Signatory
362