What is Trading Membership with NSE

Today I’m just surfing NSE Website & found Membership Menu. Inside this menu there is sub categories of different types of memberships. Like Find a member, categories of membership, Eligibility Criteria & so on. Now I want to know what is Trading Membership & Self clearing membership with NSE. Can I directly trade with NSE with Trading Membership?. Can Someone from Nithin or Kartik Rangappa explain these things for me. I’m just curious to know what is that mean.


To become a stock broker, you need a membership with the exchanges. This is called ‘Trading Membership’ abrivated as TM. All stock brokers such as Zerodha, ICICI Direct, Motilal etc hold these memberships with the exchanges.

Yes, you can take up a membership at exchange and start trading. Something like an Alpha membership, which is focused towards proprietary trading with limited clientele will suit your requirement.

But for all practical purposes, its better to have an account with a broker like Zerodha and go about your trading. Having a membership at the exchange means you need to spend on compliance, audit, and a ton of other paperwork.

You are better off focusing on improving your trading stratergy.


Thanks @Karthik sir for your reply. Now I got what is that mean. But what about Self Clearing Membership?..

@Karthik please reply…