Agreement between stock exchange and clearing corporation mandates written terms, interoperability and arbitration for clearing and settlement disputes. A recognised stock exchange must engage a recognised clearing corporation by a written agreement specifying rights and obligations, conditions for admission of securities for clearing and settlement, risk management measures, and charges; where multiple clearing corporations are used, a multipartite agreement must ensure interoperability. The exchange must extend its arbitration mechanism to settle disputes or claims arising from clearing and settlement of trades executed on the exchange.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Agreement between stock exchange and clearing corporation mandates written terms, interoperability and arbitration for clearing and settlement disputes.
A recognised stock exchange must engage a recognised clearing corporation by a written agreement specifying rights and obligations, conditions for admission of securities for clearing and settlement, risk management measures, and charges; where multiple clearing corporations are used, a multipartite agreement must ensure interoperability. The exchange must extend its arbitration mechanism to settle disputes or claims arising from clearing and settlement of trades executed on the exchange.
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