1. What is the net worth requirement for becoming a deposit based member ?
The minimum net worth criteria for becoming a Trading Member of the Exchange is 30 Lakhs. This net worth criteria is applicable to individuals as well as to corporate applicants.

2. What is the Networth requirement for Derivatives segment ?
Professional Clearing Member (PCM): 3 Crore
Trading Cum Clearing Member (TCM): 3 Crore
Self Clearing Member (SCM): 1 Crore
Trading Member (TM): 25 Lacs
Limited trading member (LTM): 25 Lacs

3. What is the minimum paid up capital requirement ?
The minimum paid up capital of the firm as per SEBI norms is 30 Lakhs

4. other membership is offered along with Deposit Based Membership ?
Derivatives Membership – along with cash segment (Admission fees would be Rs 5,000/- if applicant applies for both the segments: Equity and Derivatives else in case the applicant applies only for equity membership then admission fees will be Rs 2,50,000/-)
Corporate Debt & Mutual Funds - Once the member receives SEBI registration (Equity).

5. If I am sub – broker of BSE Ltd., is it compulsory for me to terminate the sub – brokership ?
It is not compulsory for the applicant to cancel the sub – brokership while applying for Trading Membership at BSE Ltd. Please note that the sub – brokership will have to be cancelled before commencement of business and the Trading Member will have to give an undertaking before the documents are forwarded to SEBI that he will not commence business until cancellation of sub – brokership.

6. Can my deposits at NSE be shown in the net worth statement to be submitted to BSE Ltd. ?
Yes the deposits at NSE can be taken for the purpose of calculating net worth statement for BSE Ltd.

7. Is it compulsory to have an office in Mumbai ?
No it is not mandated to have an office in Mumbai. The mandation was removed vide notice number Notice no: 20021023-4 dated Wednesday, October 23, 2002.

8. Who can apply for Deposit Based Membership ?
Individuals, Corporate, Partnership firms and Limited Liability Partnership firms (LLP) can apply for Deposit Based Memberships.

9. What is the total cost for obtaining the Trading Membership Right at BSE Ltd. ?


Please note monies specified in points 4, 5 & 6 are non-refundable monies and exclusive of service tax.

* Admission fees would be Rs 5,000/- if applicant applies for both the segments: Equity and Derivatives else in case the applicant applies only for equity membership then admission fees will be Rs 2,50,000/-


# Base Minimum Capital :
 Base Minimum Capital (Refundable) –Minimum Rs.1.25 lacs in cash is mandatory) as per SEBI, vide circular no. CIR/ MRD/ DRMNP/ 36/ 2012 dated December 19, 2012. The revised requirement of BMC to be maintained by Stock Broker and Trading Member, according to their profiles as given below, shall be effective from April 1, 2013.



10.Do we provide exposure on the Deposit ?
Yes, Exposure is provided on 10 Lacs deposit.

11. Is there any lock-in period on the deposit ?
No, there is no lock–in period on the deposit.

12. Process for surrender of Membership (Refund of deposit) ?
Any trading member who wants refund of Interest Free Deposit of Rs.10 lacs shall be first required to apply for surrender of trading membership right. Before applying for surrender of trading membership right, such member shall ensure voluntary closure of business. The voluntary closure should be at least for a period of 6 months prior to the date of surrender. Where the trading terminals of the member have remained deactivated for a period of 6 months prior to the date of surrender it shall be construed as closure of business. On receipt of application for surrender, the Exchange will give Public Notice in newspaper to enable the investors /public to lodge claims, if any, against surrendering trading member, giving a period of 3(three months) from the date of Public Notice. However, this condition would not apply to the members who have not commenced business or have not activated their trading terminals at all. Further, the amount of Interest Free Deposit will be refunded only after recovering outstanding amount if any by BSE and after getting NOC from SEBI.

13. What portion of the total deposit to be included in the Networth ?
Deposit of Rs. 10 Lacs can be included in the Networth.