Listing Members

An issuer wishing to have its securities listed on the Exchange is required to engage the services of a Listing Member who will act as either a Sponsor or Listing Agent as determined by the type of security.

An issuer must have a Sponsor or Listing Agent appointed at all times while it is an applicant for listing or is listed. The Sponsor or Listing Agent acts as an intermediary between the issuer and the Exchange. Responsibilities include preparing and lodging the formal listing application.

The Sponsor or Listing Agent must be a Listing Member of the Exchange which has met the eligibility criteria to act in respect of a particular product:

Product Listing Categories
Category 1 Non-retail debt securities
Category 2 Investment vehicle securities
Category 3 All other permitted securities not covered by categories 1 or 2

Sponsoring Categories

Our range of Listing Members already includes banks, fund administrators, law firms and trust and corporate service providers. They have the ability to list their own in-house products as well as those of their clients.

Listing Members are approved by the Exchange’s market authority to act in respect of one or more category. Category 1 Listing Members may act as Listing Agents for the listing of non-retail debt securities; Category 2 Listing Members may act as Sponsors only for the listing of investment vehicles securities; and Category 3 Listing Members may act as Sponsors for listing all other permitted securities not covered by categories 1 or 2. A Listing Member can expand its range of categories as and when it is able to demonstrate sufficient expertise to act in respect of a particular product.

We are seeing an increasing number of Listing Members seeking to expand their categories of membership as this allows them to provide another service to clients, which is especially pertinent where a firm wants to deliver a holistic solution. For example, a number of fund administrators are considering widening their membership to include not just Category 2 but also Category 1 so that they can list the debt vehicles which are often found within the wider investment structure.

There is an established process for on-boarding new Listing Members or expanding the categories of membership of existing Listing Members and we encourage early discussions with our team to ensure that this is as efficient as possible.

Eligibility Criteria

Rules governing the eligibility criteria of Sponsors and Listing Agents and their responsibilities can be found under Chapter 3 of the Membership Rules.

Membership Fees
Initial Membership Fee (Listing or Trading Member) £10,000
Initial Membership Fee (Listing and Trading Member) £15,000
Annual Membership Fee (a Listing and Trading Member will pay both annual fees) £6,300

 

To view a PDF flyer about becoming a Listing Member click here.

For more information please contact us.
John Inderwick
John Inderwick
Compliance Officer