Rule 4 - Conditions that a stock exchange is required to fulfil to be notified as a recognised stock exchange under section 2(92)

Recordkeeping obligations require recognised stock exchanges to secure regulatory approval, client ID, immutable audit trail and monthly reporting.

A recognised stock exchange for derivatives must hold regulatory approval, record client particulars including Unique Client Identity and Permanent Account Number, maintain a complete audit trail of cash and derivative transactions for seven tax years, prevent erasure of registered transactions, allow modifications only for genuine errors, and report modified-transaction data monthly in Form No. 1 to the income-tax systems authority within fifteen days of month-end.