Recognition of stock exchanges requires formal application with prescribed enclosures, disclosures and statutory undertakings under securities regulation. Application for recognition or renewal under the Securities Contracts (Regulation) Act requires submission of FORM A with four copies of rules, memorandum and articles, bye laws, prescribed fee receipt and an undertaking to comply with section 4 and any conditions of recognition. The annexure mandates detailed disclosures on constitution and capital, audited accounts, membership structure and qualifications, governing body composition and powers, disciplinary and arbitration mechanisms, and comprehensive trading, settlement, clearing, margin and market conduct arrangements.