For acquiring Membership in order to be eligible to trade on PXIL, the applicant has to first fill the application form. The applicant needs to furnish the completed application form along with a copy of the board’s resolution(wherever required) and necessary enclosures. This must be sent directly to PXIL or may be handed over to any of PXIL’s designated representatives.
Submission of completed application form and requisite fees & deposits
Submission of the completed application form along with a copy of the board’s resolution of the company and other requisite enclosures as required by PXIL depending upon the constitution of the Member.
Payment of the processing fee of Rs.5,000.00 (Rupees Five thousand only) and an amount of
Rs.1,00,000/- (Rupees One Lakh) would be payable along with the application, which would be adjusted against onetime fee/annual fee on successful grant of membership. In the event that the membership is not approved, the sum of Rs One Lakh would be refunded to the applicant.
Scrutiny and recommendation of application by the Membership Recommendation committee (MRC)
This Membership Recommendation Committee comprises senior management of PXIL and external members who are subject matter experts (SMEs) in the power and finance sector.
After examining the application, credentials and attached documents in detail, and after scrutinizing the applicant’s net-worth requirements, the MRC recommends the case to the Membership Approval Committee (MAC).
Approval by the Membership Approval Committee (MAC)
The Membership Approval Committee (MAC) consisting of top management/Directors of PXIL reviews the application and if found satisfactory, approves the grant of membership.
Document execution, payment of fees & deposits and opening of the bank account
(a) Having been granted membership, the new Member has to submit the documents(as applicable). Click here for reference
(b) Fees & deposits including annual Fees, the one-time fee and an interest-free Security deposit (IFSD). Click here for reference
(c) The member would be required to open a settlement account with one of the approved Clearing banks. Click here for reference
Enablement of members and Allocation of membership number
After completion of the above mentioned formalities the member would be enabled on the exchange and would be allocated a membership number. A trading terminal for execution of trade and a unique trading id for commencement of trade would be provided to the Member. TCM and AM member categories would be eligible for enrollment of clients on submission of requisite documents.