Market infrastructure institutions must undergo triennial independent external evaluations under a SEBI specified weighted rating framework. SEBI requires independent external evaluation of all recognised stock exchanges, clearing corporations and depositories using Board approved weighted criteria (technology resilience 40%; investor protection 17%; regulatory role 15%; compliance 10%; governance 8%; resources 5%; fair access 5%), a common rating framework, and triennial assessments (first for FY2024-25, report by 30 Sept 2025). External agencies need SEBI NOC, market domain expertise and no conflict of interest. MD and KMP performance metrics must reflect institutional criteria with MD evaluations giving at least 50% weight to critical operations and regulatory outcomes.
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Market infrastructure institutions must undergo triennial independent external evaluations under a SEBI specified weighted rating framework.
SEBI requires independent external evaluation of all recognised stock exchanges, clearing corporations and depositories using Board approved weighted criteria (technology resilience 40%; investor protection 17%; regulatory role 15%; compliance 10%; governance 8%; resources 5%; fair access 5%), a common rating framework, and triennial assessments (first for FY2024-25, report by 30 Sept 2025). External agencies need SEBI NOC, market domain expertise and no conflict of interest. MD and KMP performance metrics must reflect institutional criteria with MD evaluations giving at least 50% weight to critical operations and regulatory outcomes.
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