{
  "definition_id": "ckl-exchange-listing-standards-baseline",
  "title": "Exchange Listing Standards Baseline",
  "version": "1.0.0",
  "source_citation": "Generic quantitative/distribution/governance listing-standards criteria shape common across exchange listing rulebooks; numeric thresholds are venue-specific and caller-supplied, not embedded here.",
  "mandate_hash": null,
  "steps": [
    {
      "step_id": "min-market-cap",
      "title": "Confirm minimum market capitalization",
      "instruction": "Confirm measured market capitalization (USD millions) meets or exceeds the applicable minimum market cap threshold for this listing venue.",
      "evidence_requirement": "text",
      "approver_role": null,
      "gate": "blocking"
    },
    {
      "step_id": "min-public-float",
      "title": "Confirm minimum public float",
      "instruction": "Confirm measured public float percentage meets or exceeds the applicable minimum public float threshold for this listing venue.",
      "evidence_requirement": "text",
      "approver_role": null,
      "gate": "blocking"
    },
    {
      "step_id": "min-price",
      "title": "Confirm minimum price",
      "instruction": "Confirm measured price (USD) meets or exceeds the applicable minimum price threshold for this listing venue.",
      "evidence_requirement": "text",
      "approver_role": null,
      "gate": "blocking"
    },
    {
      "step_id": "min-holders",
      "title": "Confirm minimum holder/distribution count",
      "instruction": "Confirm measured holder count meets or exceeds the applicable minimum holder count threshold for this listing venue.",
      "evidence_requirement": "text",
      "approver_role": null,
      "gate": "blocking"
    },
    {
      "step_id": "independent-board-majority",
      "title": "Confirm independent board majority",
      "instruction": "Confirm the board has an independent-director majority as required by the applicable listing venue.",
      "evidence_requirement": "attestation",
      "approver_role": "listing_compliance_officer",
      "gate": "blocking"
    },
    {
      "step_id": "audit-committee",
      "title": "Confirm audit committee is present",
      "instruction": "Confirm an audit committee meeting the applicable listing venue's composition requirements is in place.",
      "evidence_requirement": "attestation",
      "approver_role": "listing_compliance_officer",
      "gate": "blocking"
    }
  ],
  "definition_digest": "ea67ff196a12a775e43aa4aa8f7bed775e6b92ce4eafb24805217119e3009164",
  "audit_signature": {
    "proof": {
      "type": "DataIntegrityProof",
      "cryptosuite": "eddsa-jcs-2022",
      "verificationMethod": "did:key:z6Mkg6XitnjSPYArBihATRPmdXuEcSZ37CUP1X8y35iRY8uF",
      "proofPurpose": "assertionMethod",
      "created": "2026-07-16T00:00:00.000Z",
      "proofValue": "z39BPVUM6v3yuHwbKXRPnrNTvDTfdUpV7MxNuqNzPZdPXVDZkn3dw9GafmeBF33M4jcVrtHXDu7umf5XtxSnVcWuD"
    }
  }
}