There Are Four Entities In The Trading System. Trading Members, Clearing Members, Professionalclearing Members And Participants.1. Trading Members: Trading Members Are Members Of NSE. They Can Trade Either On Their Ownaccount Or On Behalf Of Their Clients Including Participants. The Exchange Assigns A Trading MemberID To Each Trading Member. Each Trading Member Can Have More Than One User. The Number Ofusers Allowed For Each Trading Member Is Notifi Ed By The Exchange From Time To Time. Each Userof A Trading Member Must Be Registered With The Exchange And Is Assigned An Unique User ID. Theunique Trading Member ID Functions As A Reference For All Orderstrades Of Different Users. This ID Iscommon For All Users Of A Particular Trading Member. It Is The Responsibility Of The Trading Memberto Maintain Adequate Control Over Persons Having Access To The Fi Rms User IDs.2. Clearing Members: Clearing Members Are Members Of NSCCL. They Carry Out Risk Managementactivities And Confi Rmationinquiry Of Trades Through The Trading System.3. Professional Clearing Members: A Professional Clearing Members Is A Clearing Member Who Is Nota Trading Member. Typically, Banks And Custodians Become Professional Clearing Members And Clear And Settle For Their Trading Members.4. Participants: A Participant Is A Client Of Trading Members Like Financial Institutions. These Clientsmay Trade Through Multiple Trading Members But Settle Through A Single Clearing Member
