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What is the commodity declaration option in the My Profile section on Console?

SEBI, through its circular dated January 04, 2019, requires all Commodity Exchanges to classify commodity market participants into various categories. MCX, in turn, has sought this information from its broker-members. In light of the same, you as a client are required to provide details of the capacity you trade commodities in. 

The option to confirm your trader category is available on Console as shown below:

The different trader categories are:
  1.  Farmers/FPOs: It includes participants such as farmers, farmers’ cooperatives, Farmers Producers Organisations (FPOs) and other entities of similar nature. 
  2.  Value chain participants (VCPs): It includes participants such as Processors, Commercial users as Dal and Flour Millers, Importers, Exporters, Physical Market Traders, Stockists, Cash & Carry participants, Produces, SMEs/MSMEs & Wholesalers etc., but exclude farmers/FPOs. 
  3. Proprietary traders: It includes the members of stock exchanges trading in their proprietary account.
  4. Domestic financial institutional investors: It includes participants such as Mutual Funds (MFs), Portfolio Managers, Alternative Investment Funds (AIFs), Banks, Insurance Companies and Pension Funds, etc., which are allowed to trade in commodity derivatives. 
  5. Foreign participants: It includes participants such as Eligible Foreign Entities (EFEs), NRIs, etc. which are allowed to trade in commodity derivatives markets. 
  6. Others: All other participants which cannot be classified in the above categories. 
Note:  In case you are not actively involved in producing/distribution in any particular commodity, you can choose the 'Others' option from the drop-down. Please note that you have to individually select the category for each commodity.