Hello Kiran,
all necessary informations are available on the market place:
1rst point of OSS note 1974343 - FAQ note for Fiori My Shopping Cart app
MDM is not mandatory (it depends on your customer if he has or not internal catalogs), butif it exist in the system landscape, you will have to installe the MDM API.
For TREX, it is mandatory as you can create your SC only using Catalog Cross-Search.
For more details, check OSS note
1986290 - General Information Note: SAP Fiori My Shopping Cart app for SAP SRM 1.0
Regards.
Laurent.