Membership

In reflection of the need to upgrade professional standards of market intermediaries, the admission standards laid down by the Exchange stress on factors such as capital adequacy, corporate structure, track record, education, experience etc. Admission is a two stage process with applicants requiring to go through a written examination followed by an interview. Candidates are interviewed by a committee consisting of experienced people from the industry to assess the applicant's capability to operate as an Exchange member. The capital adequacy requirements stipulated by the Exchange are substantially in excess of the minimum statutory requirements as also in comparison to those stipulated by other exchanges. This reflects a conscious effort by the Exchange to strengthen the membership standards so as to build confidence in the Exchange operations.

The Exchange admits members separately to segment such as the Wholesale Debt Market segment and the Capital Market segment. Only corporate members are admitted on the debt market segment whereas individuals and firms are also eligible on the capital market segment. As of now, a prospective trading member has to seek admission to both WDM and CM segment of the Exchange.

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