PXI opens for membership
Power Exchange India (PXI), a JV between NSE and NCDEX, has opened for membership and announced its membership-fee structure.
By ET Bureau |
MUMBAI: Power Exchange India (PXI), a JV between NSE and NCDEX, has opened for membership and announced its membership-fee structure. PXI has received the in-principle approval of the Central Electricity Regulatory Commission (CERC) to set up and operate a power exchange, and is set to be operational in a few months.
According to an NSE release, membership would be available in the category of trading-cum-clearing members (TCM) ��� those who can trade as well as clear trades ��� and trading members (TM) ��� those who can only trade and not clear trades. Further classification has been made within TCM category due to the peculiarities of the power sector. There would be members that can do only proprietary trades and clear for themselves (TSCMs) and there would also be TCMs, that apart from doing proprietary trading and clearing, would also trade and clear on account of their clients.
According to an NSE release, membership would be available in the category of trading-cum-clearing members (TCM) ��� those who can trade as well as clear trades ��� and trading members (TM) ��� those who can only trade and not clear trades. Further classification has been made within TCM category due to the peculiarities of the power sector. There would be members that can do only proprietary trades and clear for themselves (TSCMs) and there would also be TCMs, that apart from doing proprietary trading and clearing, would also trade and clear on account of their clients.
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