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of <h1>Regulation 7: SEBI Sets Conditions for Recognizing Stock Exchanges and Clearing Corporations, Including Ownership and Infrastructure Requirements.</h1> Regulation 7 of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 outlines the conditions for granting recognition to stock exchanges and clearing corporations by the Securities and Exchange Board of India (SEBI). Applicants must be companies limited by shares, demutualized, and meet specific criteria regarding ownership, governance, net worth, and functional capabilities. Stock exchanges need infrastructure for trade execution, online trading systems, and investor protection mechanisms. Clearing corporations require infrastructure for trade settlement, risk management, and dispute resolution. SEBI may grant in-principle approval valid for one year, extendable under certain conditions. Applications must adhere to specified procedures.
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