Membership Categories

IIBX offers multiple categories of membership to support trading, clearing and settlement functions.

Trading Member (TM)

Trading Members are permitted to execute trades on:
    •   Own account (Proprietary Trading)
    •   Client account
Clearing and settlement of trades executed through Trading Members are undertaken through an authorized Clearing Member.
Suitable for: Brokerages, bullion intermediaries and participant institutions seeking market access.

Trading Cum Self-Clearing Member (TSM)

Trading Cum Self-Clearing Members may:
    •   Execute trades on own account
    •   Execute trades for clients
    •   Clear and settle their own trades
This model enables integrated trading and post-trade operations.
Suitable for: Participants seeking direct control over execution and settlement.

Trading Cum Clearing Member (TCM)

Trading Cum Clearing Members may:
    •   Execute trades on own account
    •   Execute trades for clients
    •   Clear and settle own trades
    •   Provide clearing services to other Trading Members
This category combines trading and clearing capabilities.
Suitable for: Large institutions offering execution and clearing infrastructure.

Professional Clearing Member (PCM)

Professional Clearing Members provide clearing and settlement services for market participants.
Permitted activities:
    •   Clearing of trades
    •   Settlement support
    •   Post-trade operations
PCM does not undertake trading activities.
Suitable for: Clearing institutions and IFSC Banking Units engaged in clearing operations.

Base Minimum Capital Requirement (BMC)

Members are required to maintain Base Minimum Capital as prescribed.

For Entities Incorporated in India (including IFSC)

Trading Activity	BMC (USD)
Proprietary Trading only (without Algo)	15,000
Client Trading only (without Algo)	25,000
Proprietary + Client Trading (without Algo)	40,000
Trading with Algorithmic Access	75,000

For Foreign Entities
Minimum BMC: USD 75,000

Deposit and Net Worth Requirements

Member Category	Exchange Deposit (USD)	Clearing Deposit (USD)	Total Deposit (USD)	Minimum Net Worth (USD)
TM	15,000	-	15,000	150,000
TSM	15,000	75,000	90,000	10,000,000
TCM	15,000	85,000	100,000	10,000,000
PCM	–	100,000	100,000	10,000,000

Additional requirements may apply depending upon product access, risk framework and operational approvals.

Membership Journey

Membership Directory

View registered market intermediaries and member institutions operating on IIBX.

Need Assistance?
Membership onboarding and participant support teams are available to assist with application, eligibility and onboarding requirements.
Membership Team
Email: membership@iibx.co.in
Phone: +91 79 6969 7100