1. Client Account (trading account/ client code) with a member of NSEL.
2. Beneficiary Account (demat account) for the commodities segment with an empanelled DP of NSEL.

• Select a member from the list of members of NSEL.
• The list of members enabled for E-Series is updated from time to time.
• Fill up the account opening form provided by the member.
• Submit the duly filled form to the member along with the other requirements such as proof of identity and proof of address.
• Sign the member-client agreement with the member.

• Select a Depository Participant (DP) from the list of DPs empanelled by NSEL.
• The list of DPs empanelled by the National Spot Exchange is updated from time to time.
• Fill up the account opening form provided by the DP.
• Submit the duly filled form to the DP along with the other requirements such as proof of identity and proof of address.
• Sign the agreement with the DP.

• The CM should fill up the Account Opening Form as per the format given in Annexure K of the Business Rules of NSDL and available with the DP.
• The DP-Client agreement duly executed on a stamp paper of appropriate value. Further, the Participant shall be responsible in deciding the value of the stamp paper.
• The schedule of fees to be charged by the Participant to the CM should form a part of the agreement. Therefore tariff must be signed by the member.
• A copy of the letter from the Clearing Corporation/Stock Exchange intimating allotment of the CC-CM-ID to the CM signed by its authorized official.
• Board Resolution for authorized signatories.
• Memorandum of Association and the Articles of Association (in case of Corporate) with duly attested.
• Certificate of incorporation duly certified by auth signatories.
• Specimen copy of the cheque for capturing the 9-digit MICR code.
• Proof of Address( registered/correspondence/foreign address if any )in the name of company self attested by company auth signatories,
• PAN Card in the name of company self attested by company auth signatories.
• Self attested pan card copy & proof of address of authorized signatories.
• Specimen cheque copy or cancelled cheque for MICR updation.
• List of authorized signatories with photographs pasted, signature across photo, specimen signature and company rubber stamp affixed on the same.
• Introduction of Existing demat a/c holder Or Bank Introduction as per the specific format.
• Additional financial details form duly filled and signed along with latest audited balance sheet.

• Copy of Account opening form,
• Copy of the letter from the Clearing Corporation/Stock Exchange intimating allotment of the CC-CM-ID signed by its authorized official.

A beneficiary account is a Demat account opened in the name of an Individual (single or jointly). Such an account could also be in the name of a Corporate, HUF, a society, a trust. Parternership firms and Proprietorship firms. The Account opening procedure varies depending upon the nature of the account. This account is to be used by the account holder for holding and transacting in demat commodity units in electronic form.

The procedure and requirement of a beneficiary Accounts:

A : Individual account Holder.

1. Completely filled A/C Opening Form
2. DP – Client Agreement
3. Signed DP Rate Sheet
4. Proof Of Address (POA)in the name of all Account Holders ( If permanent address is different from correspondence then both proofs are required.)
5. PAN Card (POI) of all Account holders.
6. Photograph & Signature across Photo required for all Holders.
7. MICR Cheque copy (in case of non MICR cheque copy banks letter is reqd) as per the bank details of the first holder.

1. A/C Opening Form
2. DP Agreement
3. DP Rate Sheet
4. Proof Of Address in the name of company self attested by company auth signatories.
5. PAN Card in the name of company self attested by company auth signatories.
6. List of authorized signatories with photographs pasted, signature across photo, specimen signature and designation.
7. Authorized signatories photograph & Signature across Photo required.
8. MICR Cheque copy (in case of non MICR cheque copy banks letter is reqd)
9. Board Resolution as per the prescribed format.
10. Certificate of Incorporation
11. Memorandum Of Association & Articles Of Association
12. Introduction of Existing demat a/c holder Or Bank Introduction
13. Additional financial details form duly filled and signed along with latest audited balance sheet.

1. Proof of Identity (POI):
   1. Passport I
   2. Voter ID Card
   3. Driving license
   4. PAN card with photograph
   5. Identity card/document with applicant’s Photo issued by
      1. Central/State Government and its Departments,
      2. Statutory/Regulatory Authorities,
      3. Public Sector Undertakings,
      4. Scheduled Commercial Banks,
      5. Public Financial Institutions,
      6. Colleges affiliated to Universities (this can be treated as valid only till the time the applicant is a student),
      7. Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc., to their Members and h) Credit cards/Debit cards issued by Banks.
2. Proof of Address
   1. Ration card
   2. Passport
   3. Voter ID Card
   4. Driving license
   5. Bank passbook / Bank Statement (NSDL/POLICY/2007/0074 dated December 1, 2007 and NSDL/POLICY/2008/0037 dated May 27, 2008)
   6. Verified copies of
      1. Electricity bills (not more than two months old),
      2. elephone bills (not more than two months old)
      3. Leave and License agreement / Agreement for sale
   7. Self-declaration by High Court & Supreme Court judges, giving the new address in respect of their own accounts.
   8. Identity card/document with address, issued by
      1. Central/State Government and its Departments,
      2. statutory/Regulatory Authorities,
      3. Public Sector Undertakings,
      4. Scheduled Commercial Banks,
      5. Public Financial Institutions,
      6. Colleges affiliated to Universities (this can be treated as valid only till the time the applicant is a student) and
      7. Professional Bodies such as ICAI, ICWAI, Bar Council