Power Exchange India Ltd (PXI), a JV of the National Stock Exchange of India (NSE) and National Commodity &
Derivatives Exchange (NCDEX) which received the in-principle approval of the Central Electricity Regulatory
Commission (CERC) to set up and operate a Power Exchange (PX) has opened the membership to the exchange and
announced its membership fees structure
Membership would be available in the category of Trading Members (TM) who would only trade but not clear for
themselves, as well as Trading cum Clearing Members (TCM) . Recognizing the peculiarities of the Power Sector , a
distinction, has been made within the TCM category between members who would do only proprietary trades and
would clear for themselves ( TSCMs) and TCMs , who apart from doing proprietary trading and clearing , would also
trade and clear on account of their clients. The fee structure for the trading cum clearing members ( TSCMs & TCMs
) envisages a one time fee of Rs 10 lacs and an annual fee of Rs 2.5 lacs. The fees for Trading Members have been
kept lower at Rs 5 Lakhs as one time fee and Rs 1 lakh per annum as annual fee. Members would also be required to
keep deposits as per the PXI rules. The exchange would also have Professional Clearing Members ( PCM) who
would facilitate clearing for Trading Members ( TMs )
The relevant details are available on PXI’s website Power Exchange India LTD - Home.
PXI would function as a nation-.wide spot exchange for Power and will initially only trade day-ahead contracts. It will
provide an open market place for all stakeholders in the Power Sector including generators, distribution companies,
Independent Power Producers (IPPs), Captive Power Producers (CPPs), traders etc who can participate either by
becoming members of PXI or be becoming constituents of the members. The exchange is expected to be operational
within the next few months.