labels: investment - general, bse
BSE to admit deposit based memberships in the "cash & derivatives segment"news
Our Market Bureau
22 May 2004


Mumbai: The BSE has decided to invite membership from all over the country in "Cash Segment (Equities & Debt)" against a deposit of Rs.75,00,000. The number is restricted to 100 membership.

Deposit based membership will be issued on a first-come-first-serve basis. The membership has exclusive trading rights and no ownership rights of BSE. Individuals and corporates, are eligible to become a member of BSE in accordance with the rules & regulations of the BSE.

The deposit of the members will be subject to a lock in period of three years. Any member desiring to withdraw his membership after such lock in period of three years or at any point thereafter will have to give a one-year notice to that effect to the exchange.

In addition to the amount of 75 Lakhs (Interest free deposit) the member has to pay the following amounts :

Base minimum Capital — Rs.10,00,000
Trade Guarantee fund — Rs.10,00,000
Admission Fees (Non refundable) — Rs. 2,50,000
Broker Contingency Fund (Non refundable) — Rs. 2,50,000

The specimen of the application form as well as the other material including the terms and conditions and salient features of the deposit based membership are available with the Publications Department of the Exchange or can be down loaded from the website of the Exchange www.bseindia.com/dbm.asp

 

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BSE to admit deposit based memberships in the "cash & derivatives segment"