Kochi (Kerala), July 10 (ANI): The National Multi Commodity Exchange of India Ltd. (NMCE), the first online National Multi Commodity Exchange in India has recently revised its Membership fees structure, according to a release issued.
The revised membership fees structure shall be applicable from 1st August, 2010.
The fees for all the three categories viz., Trading Membership (tm), Trading Cum Clearing Membership (TCM), and Institutional Clearing Membership (ICM) have moved up.
The membership fee for the TCM at NMCE has been increased from Rs. 3.20 Lakhs to Rs. 7.25 Lakhs. The Membership for Trading Membership will now cost Rs. 85,000 which was earlier Rs. 60,000. Also the Membership fee for ICM has increased to Rs. 27.5 Lakhs from Rs. 23.0 Lakhs.
In addition to this, a new category called - Institutional Trading Cum Clearing.
Member (ITCM) is being introduced for which the Membership fee will be Rs. 15.5 Lakhs.
"NMCE has seen tremendous growth in the past few years and has developed as a stronger brand. This is reflected in the increase in Membership Pan- India, which is close to 400 now, also there is an increase in the number of active commodities in both the Agri and non-Agri segment.
Further the rise in turnover by 270 percent in the Fiscal Year 2009-2010 over the last year has been significant" said Poonam Verma, Vice President Business Development.
TCM is a person/corporate who is admitted by the exchange as a member, conferring upon them a right to trade and clear through the Clearing House of the Exchange, as a Trading-Cum-Clearing.By Juhan Samuel(ANI)