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of <h1>Stock exchanges must partner with recognized clearing corporations and offer arbitration for trade clearing disputes. Multipartite agreements needed for multiple partners.</h1> A recognized stock exchange must use the services of a recognized clearing corporation through a written agreement outlining their rights, obligations, and conditions for securities clearing and settlement, including risk management and fees. If a stock exchange partners with multiple clearing corporations, a multipartite agreement ensuring interoperability is required. Additionally, the stock exchange must provide an arbitration mechanism for resolving disputes related to trade clearing and settlement.
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