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<h1>SEBI Issues Guidelines for Stock Exchanges and Clearing Corporations on Recognition, Ownership, and Governance per SECC Regulations 2012.</h1> The circular issued by SEBI outlines procedural norms for recognition, ownership, and governance of stock exchanges and clearing corporations as per the SECC Regulations, 2012. It details the application process for recognition, including requirements for business plans, financial details, and organizational structures. The circular sets net worth targets for exchanges and clearing corporations, mandates monitoring of shareholding limits, and specifies governance norms, including the appointment of directors and key management personnel. It also prescribes statutory committees, compensation policies, and conflict management frameworks. Exchanges and corporations must comply with these norms and report their implementation status to SEBI.