Categories of Membership
Currently, the following categories of Membership on Global Board of Trade Limited (GBOT) are open :-
| Geographical Location |
Incorporated anywhere |
Incorporated in Mauritius |
Incorporated in Mauritius |
Incorporated in Mauritius |
| Trading for Self |
Yes |
Yes |
Yes |
No |
| Trading for Clients |
Yes |
Yes |
Yes |
No |
| Clearing for Self |
No |
Yes |
Yes |
No |
| Clearing for Clients |
No |
Yes |
Yes |
Yes |
| Clearing for other Members |
No |
No |
Yes |
Yes |
Trading Member [TM] also known as Broker Member [BM]
Trading Member is a body corporate or Financial Institution which has been admitted as a Member on GBOT.
The Trading Member shall have rights to trade on its own account as well as on account of its clients, but shall have no right to clear and settle such trades by itself. All such trading members must be affiliated to any one of the Integrated Trading-cum-Clearing Members (ITCM) or Professional Clearing Members (PCM) of GBOT, having clearing rights on GBOT.
An Applicant for Trading Membership may be incorporated in Mauritius or outside Mauritius. Where the Trading Member is not incorporated in Mauritius, it has to be a Member/ Broker / Dealer of an Exchange outside Mauritius and be governed and regulated by such Exchange.
Banks that are incorporated outside Mauritius can seek Membership on GBOT’s Currency Derivatives Market segment subject to them being licensed and regulated by its domicile country.
Trading-cum-Clearing Member [TCM] also known as Self Clearing Member [SCM]
Trading-cum-Clearing Member is a body corporate or financial institution which has been admitted as a Member on GBOT.
The Trading-cum-Clearing Member shall have rights to trade on its own account as well as on account of its clients and clear all such trades through GBOT. Trading-cum-Clearing Member may however choose to affiliate itself with any other Integrated Trading-cum-Clearing Member or Professional Clearing Member for clearing and settling their trades, if they so desire.
Integrated Trading-cum-Clearing Member [ITCM] also known as General Clearing Member [GCM]
Integrated Trading-cum-Clearing Member is a body corporate or Financial Institution or commercial bank or development bank or cooperative bank or investment bank or primary or satellite dealer or foreign exchange house or their subsidiary which has been admitted as a Member on GBOT.
The Integrated Trading-cum-Clearing Member shall have rights to trade and clear trades on its own account as well as on account of its clients, through GBOT. The Integrated Trading-cum-Clearing Member can also clear and settle trades on behalf of other Trading Members and Trading-cum-Clearing Member at their request, subject to the terms and conditions specified by GBOT. Integrated Trading-cum-Clearing Members may also choose to affiliate themselves with other Professional Clearing Members for clearing and settling their trades, if they so desire.
Professional Clearing Member [PCM] also known as Special Clearing Member [SCM]
Professional Clearing Member is a Financial Institution or commercial bank or development bank or cooperative bank or investment bank or primary or satellite dealer or foreign exchange house or their subsidiary who is admitted by GBOT as a Member, conferring upon them a right to clear and settle trades initiated by other Trading Members, Trading-cum-Clearing Members and Integrated Trading-cum-Clearing Members of GBOT as per terms and conditions of GBOT. Professional Clearing Members shall be allowed to clear and settle trades of such Member of GBOT who chooses to clear and settle their trades through such Professional Clearing Member.
Professional Clearing Members have no eligibility to trade on GBOT.