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of <h1>Regulation 7: Criteria for Stock Exchanges and Clearing Corporations Recognition - Ownership, Governance, and Infrastructure Requirements</h1> Regulation 7 of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012 outlines the conditions for granting recognition to stock exchanges and clearing corporations. Applicants must be companies limited by shares, demutualised, and meet ownership, governance, and net worth criteria. For stock exchanges, additional requirements include infrastructure for trade execution, online trading and surveillance systems, investor protection mechanisms, and a nationwide network of trading members. Clearing corporations must ensure timely clearing and settlement, risk management, and connectivity with depositories and banks. The Board may grant an in-principle approval valid for one year, extendable by six months.
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