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Clearing Member

Clearing Member means a member of the Clearing Corporation who clears and settles deals through the Clearing Corporation. The Clearing Member clears and settles deals for a segment in a manner and mode and subject to such terms and conditions and procedures prescribed for them. Further, a Clearing Member may clear and settle deals either on their own account or on behalf of their clients subject to the terms and conditions prescribed by the Clearing Corporation.

In the Capital market Segment, all trading members of the Exchange are required to become the Clearing Member of the Clearing Corporation.

In F&O Segment, trading members need not necessarily clear their own deals but can select another clearing member or a professional clearing member to clear and settle their dues. Trading Members who are also Clearing Members, can clear and settle their deals and also deals of other trading members who opt to settle their deals through the said clearing member. 'Self Clearing Members' may clear and settle only their own proprietary trades and their clients’ trades but cannot clear and settle trades of other trading members.