Market infrastructure definitions establish eligibility, governance, clearing, and settlement terminology for IFSC securities market operations. Regulation 2 defines recognised market infrastructure institutions as recognised stock exchanges, clearing corporations and depositories in an ... Summary
Market infrastructure definitions establish eligibility, governance, clearing, and settlement terminology for IFSC securities market operations.
Regulation 2 defines recognised market infrastructure institutions as recognised stock exchanges, clearing corporations and depositories in an International Financial Services Centre. It defines governance participants, including governing boards, key management personnel, public interest directors and shareholder directors. Clearing and settlement concepts include clearing corporations, clearing members, trading members, netting and novation. Associate relationships are determined through control, voting power, corporate relationships, family connections, or circumstances involving control, independence or conflict of interest. Undefined expressions adopt meanings assigned under the applicable securities, depository, company and IFSC legal framework.
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