Stock exchange arbitration mechanism established SOP for disputes between listed companies/RTAs and shareholders, setting procedures, timelines and fee allocation. The circular prescribes a Standard Operating Procedure for stock exchange arbitration of disputes between listed companies/RTAs and shareholders, making RTAs subject to arbitration, requiring listed companies to be joined where RTAs are involved, and directing arbitration only after exhaustion of complaint remedies including SCORES. It prescribes arbitrator composition, appointment timelines, hearing modalities, award and appellate timelines with limited extensions, fee and cost-allocation rules including refunds and subsidisation for small investor claims, record retention and public disclosure obligations, and enforcement/penalty frameworks for non-compliance.