This category of membership entitles a member to clear and settle trades of such members of the Exchange who choose to clear and settle their trades through this member.
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Trading cum clearing members are involved in both executing and settling trades on the Exchange.
Step 1: Understanding the membership categories.
This category refers to a membership type where a member not only trades on the Exchange but also clears and settles the trades for other members. This is typically referred to as "Trading cum clearing member."
Step 2: Comparison with other options.
• (A) Trading Member: Incorrect. A trading member only executes trades but does not engage in the clearing and settlement of trades.
• (B) Trading cum self-clearing member: Incorrect. While this category does involve clearing, it specifically refers to a member who clears their own trades, not others'.
• (C) Trading cum clearing member: Correct. This is the membership category that allows a member to clear and settle trades for other members as well.
• (D) Professional Clearing member: Incorrect. This category involves only clearing and does not encompass trading.
Step 3: Conclusion.
The correct answer is (C) Trading cum clearing member, as it involves both trading and clearing functions.
Final Answer: Trading cum clearing member.
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