Segregation of functions: exchanges must prioritise critical and regulatory verticals and maintain a Chinese Wall to prevent information flow. Recognised stock exchanges and clearing corporations must segregate functions into three verticals-Critical Operations; Regulatory, Compliance, Risk Management and Investor Grievances; and other functions-and prioritise resource allocation to the first two. They must periodically assess resource adequacy for those verticals and adopt a Chinese Wall policy that separates the Regulatory/Compliance vertical from other verticals, restricts intra-vertical communication, implements physical and access segregation, and permits exceptional information sharing on a documented 'need to know' basis with intimation to the compliance officer.