Any individual/corporate can become a PCM subject to the networth criteria as per the format prescribed by LC Gupta committee report.
The only difference between PCM and TCM is that PCM does not have any trading rights; he has only the rights to clear the trades.,where as TCM can clear his trades as well as trades of other trading members. With respect to SCM , PCM is allowed to clear the trades of any member of the Derivatives segment where as SCM has trading rights and can only clear his own trades.
