1.

1 About ICEX
Indian Commodity Exchange Limited is a nation-wide screen based on-line derivatives exchange for commodities and has established a reliable, efficient and transparent trading platform. It has put in place assaying and warehousing facilities in order to facilitate deliveries. This exchange is ideally positioned to leverage the huge potential of commodities market and encourage participation of farmers, traders and actual users to benefit from the opportunities of hedging, risk management and supply chain management in the commodities markets. The Exchange is a public-private partnership with Reliance Exchangenext Ltd. as anchor investor and has MMTC Ltd., Indiabulls Financial Services Ltd., Indian Potash Ltd., KRIBHCO and IDFC among others, as its stakeholders. ICEX has signed MOU with Bombay Bullion Association (BBA) to create a robust physical delivery mechanism for bullion traders. ICEX has strategic tie up with Shri Chokshi Mahajan, Gujarat, to strengthen the delivery platform in Bullion, by having the largest Bullion body of Gujarat attached with us. ICEX has collaborative tie up with Gems & Jewellery Trade Council of India (GJTCI) for Pan Indian Jewelers' promotion as their first choice for hedging. MOU with The Federation of Indian Minerals Industries (FIMI) to mutually share their knowledge and expertise for the growth & development of first of its kind globally iron ore futures market. In its continuous endeavor towards the development of futures market, Indian Commodity Exchange (ICEX) has signed and Memorandum of Understanding (MOU) with the Singaporebased globally reputed organization Iron Ore and Steel Derivatives Association (IOSDA), for the growth and development of iron ore and steel derivatives. ICEX and IOSDA will jointly work towards spreading the awareness iron ore as a mineral and its related futures trading activity, among various stakeholders and all such connected participants of the ecosystem.

ICCP Reference Material Copyright ICEX, 2011

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1.2 Key Shareholders and Shareholding Pattern

Reliance Exchange next Ltd (R Next), a wholly owned subsidiary of Reliance Capital, represents Reliance entry into Exchange vertical. R Next aims to be present across asset classes in the Exchange space. MMTC Ltd, Indiabulls Financial Services Limited, Indian Potash Ltd, KRIBHCO, IDFC are other major shareholders in ICEX. Shareholder Reliance Exchangenext Ltd. MMTC Limited Indiabulls Financial Services Limited Indian Potash Limited KRIBHCO IDFC Others Shareholding Pattern 26% 26% 14% 10% 5% 5% 14%

1.3 Membership at ICEX

The membership of the exchange shall be open to all market participants. Following types of entities are eligible to become members of ICEX: Individual / Proprietorship Firm Registered partnership Firm Hindu Undivided Family (HUF) Private Limited Company Public Limited Company Co-operative Societies

1.4 Categories of Membership

1.4.1 Trading Member (TM)
The TM membership entitles the members to only trade.

ICCP Reference Material Copyright ICEX, 2011

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1.4.2 Trading cum Clearing Member (TCM)

TCM membership entitles the members to trade and clear, both for themselves and/ or on behalf of their clients.

1.4.3 Professional Clearing Member (PCM)

The PCM membership entitles the members to clear trades executed through their clients, TCMs (if they choose to go through the PCMs), and TMs

1.4.4 Institutional Trading cum Clearing Member (ITCM)

An ITCM registered with the Exchange may, in addition to existing rights and responsibilities as TCM, shall be entitled to and liable to settle and clear the trades/transactions done by the Trading Members affiliated with it. The membership forms on receipt, is processed at exchange and in case of any additional information is required, the same is asked from the applicant. If found satisfactory, the applicant will be subsequently called for personal interview/telephonic interview with the membership committee of ICEX. Successful applicants will be subsequently intimated by ICEX. The successful applicants have to then deposit the fees as per the category of membership applied. The lock in period for the interest free security deposit fee is three years.

ICCP Reference Material Copyright ICEX, 2011

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