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SEBI grants recognition to Inter-Connected Stock Exchange

The Securities and Exchange Board of India has granted recognition to the Inter-Connected Stock Exchange of India Limited.

The ICSI will be the 23rd stock exchange in India.

ICSI has been promoted by 14 regional stock exchanges, will set up an inter-connected market system and will provide its trading members facility to trade on the national market in addition to the trading facility at the regional stock exchanges.

The trading members are required to satisfy the capital adequacy norms as prescribed by the SEBI. Further, each of the participating regional stock exchanges has to follow uniform trading and settlement cycle in tune with the trading and settlement cycle of the ICSE. The new exchange will establish a settlement guarantee fund to ensure settlement of trades.

UNI

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