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| Clearing
Banks |
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| Clearing Banks |
MCX has appointed 16 clearing banks for settlement of funds between clearing member and the Exchange.
Every Clearing member is required to maintain and operate a clearing account with any one of the empanelled Clearing Banks at the designated clearing branches. The clearing account is to be exclusively for Exchange clearing & settlement operation.
Contact Details of Clearing Banks |
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| Change in Clearing Bank |
| In case a clearing member wishes to shift a Settlement account from one designated clearing bank to another designated, the clearing member shall be required to be followed the procedure as specified : |
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Procedure and formats to be submitted by the clearing member for Change in Clearing Bank |
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In case a member desires to shift his settlement and client accounts from one clearing bank to other clearing bank, he shall inform the Exchange in writing in the specified formats enclosed as Annexure-I.
The member shall submit the following documents with the Exchange:
- Intimation to shift the Clearing Accounts (format enclosed as Annexure-I).
- No Objection Certificate (NOC) from the existing Clearing Bank (format enclosed as Annexure-II).
- Letter from the member on his letter head specifying the shift of accounts to another clearing bank, the settlement account number and client account number (in the format enclosed as Annexure-III).
- Letter from the new clearing bank confirming the settlement account number and the client account number of the member (in the format enclosed as Annexure-IV).
- Intimation Letter for effective date on the Letter head of member.
On receipt of the above said original documents, the Exchange will update its records and any subsequent funds pay-in / pay-out will take place through the new settlement account of the member. |
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For Latest commodity futures prices, SMS “MCX
<space> <Commodity
Name>“ to 58888 |
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