Eligibility criteria to become an ASB
In terms of SEBI circular dated October 09, 2018 with regard to ‘Participation of Eligible Foreign Entities (EFEs) in the commodity derivatives market’, foreign entities are now allowed to participate in the commodity derivatives market. Such foreign entities will be known as “Eligible Foreign Entities” (EFEs) and they will be allowed to hedge in Commodity Derivatives Markets through Authorised Stock Brokers (ASBs).
Kindly refer to the Exchange Circular no. NCDEX/MEMBERSHIP-036/2018 dated November 13, 2018 on Participation of members as “Authorized Stock Brokers (ASB)”.
In terms of the said circular, member of the Exchange having minimum net worth of INR 25 crores and desirous to participate as ASB may apply to the Membership Department of the Exchange along with the following documents:
- Application Form cum Declaration (Annexure 1)
- Board Resolution (Annexure 2)
- Net worth Certificate and Statement of computation of Net worth (not older than six months)
Further, please note that the Exchange reserves the right to grant recognition as ASB at its absolute discretion and mere meeting of aforesaid criteria by an entity does not confer any right or entitlement to become ASB.
|1||Application form cum Declaration for ASBs|
|2||List of Authorised Stock Broker|