Equity Market Fees
Our fees are extremely competitive with initial and annual fees varying according to product type, rather than market capitalisation.
Equity Market Listing Fees & Charges 2024 PDF
Listing Fees
Initial Application & Annual Fees
| Initial App Fees | Annual Fees | |||||
| Issuer | Sub-Fund/programme | Class/Series/Tranche | Issuer | Sub-Fund/programme | Class/series /Tranche |
|
| Investment Vehicles 1 | £6,000 | £1,000 | £1,500 | £2,500 | £1,000 | £1,000 |
| SPACs | £6,000 | n/a | £1,500 | £2,500 | n/a | £1,000 |
| Trading Companies | £6,500 | n/a | £1,750 | £6,000 | n/a | £1,750 |
Notes:
1Investment Vehicles: Includes Open-Ended and Closed-Ended Funds, REITs, Cell Investment Schemes, PCCs, ICCs and Structured Funds
TISE Sustainable: There are no additional fees associated with an admission to the TISE Sustainable segment.
Appeals Process: A minimum fee of £5,000 will be charged (in advance) for an appeal to be conducted. For further information please see section 5 of ‘Operational Matters’ in the Equity Market Listing Rules.
Administrative Fees and Charges
| Additional Securities – applicable to further issues of additional securities of <20% | £1000 |
| Additional Securities – applicable to further issues of additional securities of >20% | £5,000 |
| Partial Redemptions – applicable to any partial redemption of an existing listing | £650 |
| Extended Offer Period Facility/Block Listing (annual renewal) – applicable where additional securities are issued with any given offer period |
£1,000 |
| Early Delist – applicable on application to delist a security class prior to either a pre-set scheduled event or maturity date |
£500 |
| Eligibility Application – applicable where an approval in principle is required for comfort reasons to submission of an official application submission | £2,500 |
| Formal Notice – an announcement for a listing on the Exchange | £250 |
| Complex Application – This fee may be raised in addition to the relevant Listing Fees where the nature of the application contains particularly complex features e.g. cryptocurrencies, blockchain technology |
£2,000 |
| Change of Status – applicable where an open-ended vehicle converts into a closed-ended vehicle or vice-versa | £2,500 |
| Conversions – applicable where securities convert from one class into another | £1,000 |
| Bulk Issuer - applicable where an application is made for more than one class of securities however a separate complete suite of application documents is provided for each individual class |
£1,000 |
Administrative Charges
| Late filing of accounts | £1,000 |
| Correction of Issue Data | £1,100 |
| Posting announcements by TISE | £350 |
| General Administration Fee | £2,000 |
Terms and Conditions
- The Initial Application Fee, first Annual Fee and Formal Notice Fee or Lifetime Fee invoice (as applicable) must be settled by 12:00 on the required day of listing. On the rare occasion where an invoice has been settled and the application is subsequently withdrawn and/or fully cancelled prior to application approval, a full refund will be provided.
- The Authority shall not issue any grant of listing to any application in respect of which fees remain outstanding and due for payment by an Issuer.
- All fees and charges raised post-admission must be settled within 30 days of the invoice date unless stated otherwise. The Authority reserves the right to suspend the listing of any of an Issuer’s securities in the event of late or non-payment of such fees or charges.
- All fees and charges raised post-admission are non-refundable and payable in full irrespective of any subsequent suspension, or de-listing, of the listing.
- All fees and charges are raised in GBP and must be settled in GBP only.
- Any bank charges levied must be incurred by the remitter.
- An Issuer shall be obliged to pay all fees and charges which are owing to the Authority in accordance with the Authority’s Listing Rules and, for the avoidance of doubt, any prospective Issuer (in respect of which an initial application for listing has been submitted) shall be responsible for and shall procure the payment of all application and other fees in accordance with these Terms and Conditions.
- These Terms and Conditions and any disputes or claims arising out of, or in connection with, their subject matter or formation (including non-contractual disputes or claims) are
governed by, and construed in accordance with, the laws of the Island of Guernsey. - Subject to condition 10 below, the courts of Guernsey shall have exclusive jurisdiction for the purpose of hearing and determining any suit, action or proceedings and/or to settle any disputes in respect of fees or charges or otherwise arising out of or in any way relating to these Terms and Conditions or their formation or validity (Proceedings) and for the purpose of enforcement of any judgment against the property or assets of an Issuer.
- Nothing in condition 9 above shall (or shall be construed so as to) limit the right of the Authority to take Proceedings against an Issuer in the courts of any country in which the Issuer has assets or in any other court of competent jurisdiction nor shall the taking of Proceedings by the Authority in any one or more jurisdictions preclude the taking of Proceedings by the Authority in any other jurisdiction (whether concurrently or not).