50% of the public representatives on the Governing Council of the currency futures segment can be common with the Governing Council of the cash/equity derivatives segments of the Exchange.
The Chairman of the Governing Council of the currency futures segment of the Exchange shall be a member of the Governing Council. If the Chairman is a Trading Member/ Clearing Member, then he shall not carry on any trading/clearing business on any Exchange during his tenure as Chairman.
No trading / clearing member should be allowed simultaneously to be on the Governing Council of the currency futures segment and the cash/equity derivatives segment. The currency futures segment of the Clearing Corporation should be governed by a separate Governing Council which should not have any trading member representation.
The following entities are eligible to apply for membership - Individuals, Partnership Firms registered under the Indian Partnership Act, 1932, Corporations, Companies or Institutions or subsidiaries of such Corporations, Companies or Institutions set up for providing financial services, Such other person permitted under the Securities Contracts (Regulation) Rules 1957
The following persons are eligible to become PCMs for Currency Futures Derivatives provided they fulfill the prescribed criteria - SEBI Registered Custodians, Banks
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