Power Exchange India Ltd (PXI), a JV of the National Stock Exchange of India (NSE) and National Commodity & Derivatives Exchange (NCDEX) which received the in-principle approval of the Central Electricity Regulatory Commission (CERC) to set up and operate a Power Exchange (PX) has opened the membership to the exchange and announced its membership fees structure.
Membership would be available in the category of Trading Members who would only trade but not clear for themselves, as well as Trading cum Clearing Members (TCM) . Recognizing the peculiarities of the Power Sector , a distinction, has been made within the TCM category between members who would do only proprietary trades and would clear for themselves ( TSCMs) and TCMs , who apart from doing proprietary trading and clearing , would also trade and clear on account of their clients.
The fee structure for the trading cum clearing members ( TSCMs & TCMs ) envisages a one time fee of Rs 10 lacs and an annual fee of Rs 2.5 lacs. The fees for Trading Members have been kept lower at Rs 5 Lakhs as one time fee and Rs 1 lakh per annum as annual fee. Members would also be required to keep deposits as per the PXI rules. The exchange would also have Professional Clearing Members ( PCM) who would facilitate clearing for Trading Members ( TMs )
The relevant details are available on PXI's website www.powerexindia.com.
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