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 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 £5,000 £750 £1,000 £2,000 £500 £500
SPACs £5,000 n/a £1,000 £2,000 n/a £500
Trading Companies £5,000 n/a £1,000 £5,000 n/a £1,000

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 Securities2 – applicable to further issues of additional securities of <20% £1000
Partial Redemptions – applicable to any partial redemption of an existing listing £400
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
£1,500
Formal Notice – an announcement for a listing on the Exchange £150
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
Previously withdrawn, cancelled or dormant application – where an issuer’s application was either withdrawn or cancelled or had remained dormant for a period of 6 months, and the issuer subsequently seeks to re-submit the application for approval £1,000
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 £250

2Additional Securities: Additional Securities >20% - as per appropriate Initial Application Fee

Terms and Conditions

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. All fees and charges are raised in GBP and must be settled in GBP only.

  6. Any bank charges levied must be incurred by the remitter.

  7. 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.

  8. 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.

  9. 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.

  10. 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).