Eligibility for Registration
Under section 4 of the Securities and Exchange Ordinance, 1969, any Stock Exchange which fulfills such conditions or complies with such requirements as may be prescribed to ensure fair dealings, protection of investors and its sustainable economic viability shall be eligible for registration. These requirements, among other matters, may relate to:- 

		qualifications for membership and admission, exclusion, suspension, expulsion and re-admission of members therein to or therefrom;
		constitution and powers of the governing body and the powers and duties of the office bearers;
		representation [from a class or classes  of persons  or professions] on  the governing body of a Stock Exchange or any of its Committees;
		the manner in which business should be transacted including restrictions on the business of the members;
		Memorandum and Articles of Association, rules, regulations and by-laws of a Stock Exchange;  and
		The maintenance of accounts and records including those of members, and their audit.

Registration
Under section 5 of the Securities and Exchange Ordinance, 1969, any Stock Exchange which is eligible for registration under section 4 can apply to the SECP for registration on Form I, First Schedule, on payment of prescribed fee.

Grant of certificate of registration to a stock exchange
The SECP, if it is satisfied, after such inquiry and after obtaining such further information as it may consider necessary that the Stock Exchange is eligible for registration and that it would be in the interest of the trade and also in the public interest to register the Stock Exchange may grant a certificate of registration to the Stock Exchange.