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Options and Futures

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What are the various membership categories in the derivatives market?

The various types of membership in the derivatives market are as follows:
1.Trading Member (TM) A TM is a member of the derivatives exchange and can trade on his own behalf and on behalf of his clients.
2.Clearing Member (CM) These members are permitted to settle their own trades as well as the trades of the other non-clearing members known as Trading Members who have agreed to settle the trades through them.
3.Self-clearing Member (SCM) A SCM are those clearing members who can clear and settle their own trades only.

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