To

All Members,

Attention of members is drawn to SEBI’s Circular No. SEBI/HO/MRD/POD-3/P/CIR/2024/162 dated November 22, 2024, regarding strengthening of governance of Market Infrastructure Institutions (MIIs) i.e. Stock Exchanges, Clearing Corporations and Depositories and subsequent deliberations in the Industry Standards Forum (ISF) of MIIs on certain following issues.

(1)  Mechanism to enhance Accountability

(2)  Enhancing Supervision and Monitoring Mechanism of MIIs

(3)  Training or knowledge up-gradation of Directors on Governing Board of MII

(4)  Policy on Data Sharing

(5)  Appointment or Reappointment of Directors on the Governing Board

(6)  Reporting lines of KMPs

Applicability - The provisions of this Circular shall come into force from 1^st April, 2025.

A copy of the aforesaid Circular is enclosed as Annexure-1.

All Members are requested to take note of the same.

For and on behalf of the Indian Clearing Corporation Limited

Anita Bhatia

Chief Regulatory & Compliance Officer                                    

Enclosure - 1