The Multi Commodity Exchange Clearing Corporation Limited (MCX) on March 19, 2025, issued the notification regarding the Acceptance of e-FDR issued by ICICI Bank.
The following has been stated namely: -
• ICICI Bank Limited has been approved for issuing Fixed Deposit Receipts (FDRs) in electronic form (e-FDR). The process for issuance of Fresh/Renewal of e-FDR would be as follows:
o Members who wish to avail the facility shall approach the bank to create / renew FDR and mark lien in favour of MCXCCL (in case of Initial Security deposit and Margin deposit)/MCX (in case of Base Minimum Capital).
o Members shall submit the required documents to the bank for creation of FDR and marking the lien. Additional information to be provided by the member to bank is given below:
i. Member Code
ii. Deposit Type (Initial Security Deposit, Margin Deposit, Base Minimum Capital)
o FDR shall not be funded by Bank in any manner and should be issued from funds/accounts of Clearing Members only.
o Bank shall issue/renew FDR and mark lien in favour of MCXCCL/ MCX as applicable to the respective deposit type.
o Bank shall send FDR information in electronic form to MCXCCL.
• The process for withdrawal of e-FDR would be same as that of the current process for the FDR.
• The list of banks offering e-FDR is enclosed as Annexure – 1. For other approved banks the existing process of accepting physical FDRs shall continue.
This circular shall be effective from March 19, 2025.
[Notification No. MCX/MCXCCL/135/2025]
