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Framework for recognition and supervision of stock exchanges/platforms of stock exchanges for small and medium enterprises

ET REGULATION DEPARTMENT I Eligibility criteria for setting up of new stock exchange/platform of an existing stock exchange for the SME sector. Dedicated stock exchanges for the Small and Medium Enterprises (SME) sector may be set up after obtaining due recognition under the Securities Contracts (Regulation) Act - 1956 (SCRA hereinafter). The eligibility criteria for the same are as under. a. The .....

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e. The exchange shall have adequate arbitration and investor grievances redressal mechanism operative from all the four regions of the country. f. The exchange shall have adequate inspection capability. g. The risk management system and surveillance system shall be the same as that of the cash market. h. The trading members of the SME exchange shall register themselves with the exchange and SEBI. .....

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partment, SEBI, in the manner prescribed under the Securities Contracts (Regulation) Rules, 1957. Existing exchanges desirous of setting up a platform for the SME sector may submit a detailed application demonstrating their compliance with the eligibility criteria mentioned under (I) above alongwith the proposed Rules, Regulations and Byelaws for the SME platform. November 5, 2008 D RAVIKUMAR CHIE .....

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