Conditions that a stock exchange is required to fulfil to be notified as a recognised stock exchange under section 2(92)
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....nditions in respect of trading in derivatives:- (a) the stock exchange shall have the approval of the Securities and Exchange Board of India established under the Securities and Exchange Board of India Act, 1992 (15 of 1992) in respect of trading in derivatives and shall function in accordance with the guidelines or conditions laid down in this behalf by the Securities and Exchange Board ....
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