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TMI BlogConsideration of grant of recognitionX X X X Extracts X X X X X X X X Extracts X X X X ..... icant seeking recognition as a stock exchange or clearing corporation shall comply with the following conditions, namely:- (a) the applicant is a company limited by shares; (b) the applicant is demutualised; (c) the applicant, its directors and its shareholders who hold or intend to hold shares, are fit and proper persons as described in regulation 20; (d) the applicant satisfies requirements rela ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... licant has an online screen-based trading system; (c) the applicant has an online surveillance capability which monitors positions, prices and volumes in real time so as to ensure market integrity; (d) the applicant has adequate infrastructure to list securities for trading on its platform, wherever applicable; (e) the applicant has necessary capability to have a nationwide network of trading memb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment, sufficient number of persons having adequate professional and other relevant experience; (l) the business feasibility plan has been appraised by a reputed agency having expertise in securities market; and (m)any other conditions as may be specified by the Board. (4) An applicant seeking recognition as a clearing corporation shall, in addition to conditions as specified in sub-regulations (1) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pacity for on-line/real time risk management of trades cleared and settled and is supported by a suitable business continuity plan including a disaster recovery site; (h) the applicant has in its employment, sufficient number of persons having adequate professional and other relevant experience to the satisfaction of the Board; (i) the applicant has the necessary arrangements in place for resolvin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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