The Multi Commodity Exchange of India Limited (MCX), on April 9, 2026, issued Circular revising the method of levy of Annual Subscription Charges for Authorised Persons (APs), effective from April 1, 2026. The key change shifts the levy from a quarterly basis to an annual basis, aligning the subscription cycle with the financial year.
Under the revised framework, annual subscription charges will be levied in advance for all Authorised Persons registered with members as on March 31st of the relevant financial year. For newly registered APs, charges will apply from April 1 of the subsequent year. Additionally, members are no longer required to submit quarterly updates of active/inactive APs, reducing compliance burden.
The circular also introduces a transition mechanism for FY 2026–27, wherein billing will be based on the number of registered APs as of May 31, 2026. From FY 2027–28 onwards, billing will be based on the March 31 count. Further, exemptions from subscription charges apply where member terminals are disabled due to disciplinary action as of March 31. This revision simplifies compliance, ensures predictability in charges, and streamlines administrative processes.
[Circular No. MCX/MEM/187/2026]
