MCX has appointed 15 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
Every Clearing Member is required to maintain and operate a settlement account & client account with any one of the empanelled clearing banks at the designated clearing bank branches. The clearing account is to be used exclusively for settling funds and other obligations to the Exchange including payments of margins and other charges.
Clearing Members are required to authorise the Clearing Bank to access their settlement account for debiting and crediting their accounts, reporting of balances and other information as may be required by the Exchange from time to time. The Clearing Bank will debit/ credit the settlement account of clearing members as per instructions received from the Exchange.
Members are requested to refer the Business Rules for the mode of operation of the Exchange Settlement account.
The members are requested to forward all their clearing & settlement related correspondence on the following address:
Multi Commodity Exchange of India Limited
Clearing & Settlement Department
CTS no. 255,
Suren Road, Andheri (East),
Mumbai – 400093,