International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021 Chapter IV GENERAL OBLIGATIONS OF A RECOGNISED STOCK EXCHANGE AND A RECOGNISED CLEARING CORPORATION
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Settlement Guarantee Fund requirements secure trade settlement through minimum corpus, default coverage, periodic stress testing, and approved operational frameworks. Recognised clearing corporations must establish and maintain a Settlement Guarantee Fund to guarantee settlement of stock-exchange trades. Its corpus must ... Summary
Settlement Guarantee Fund requirements secure trade settlement through minimum corpus, default coverage, periodic stress testing, and approved operational frameworks.
Recognised clearing corporations must establish and maintain a Settlement Guarantee Fund to guarantee settlement of stock-exchange trades. Its corpus must be at least the higher of the minimum corpus determined through monthly stress-test values or USD 1 million. The fund must be used to complete settlement when a recognised clearing member defaults, remain adequate for resulting obligations, undergo periodic stress testing, and operate under a detailed framework approved by the Authority.
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