Recognition of clearing corporations: applications require prescribed documentation, governance, risk management and settlement safeguards. The application prescribes submission of a clearing corporation's rules, memorandum, articles, bye laws, annexure disclosures and proof of fee payment, together with an undertaking to comply with statutory conditions; it requires detailed information on governance, membership, clearing and settlement systems, risk management arrangements including the Settlement Guarantee Fund, and infrastructure and business continuity measures, enabling the regulator to grant recognition subject to specified or future conditions.