Why TISE?
TISE stands out from the crowd because of our culture of responsiveness and innovation
We stand out from the crowd as a leading international stock exchange because of our culture of responsiveness and innovation.
This places us in the best possible position to provide public and private companies with first class financial markets and securities services.
Our regulated marketplace is home to one of Europe’s leading professional bond markets, the second largest market for UK Real Estate Investment Trusts (REITs) and a comprehensive sustainable finance segment. In 2023, we launched a new, innovative offering for the private markets.
We provide both public and private companies with a high-quality product and service offering.
Our Products
Bonds
One of Europe’s leading stock exchanges for international bond listings via our uniquely positioned QIBM, we list products including convertibles, high yield, securitisation & CLO and sustainable.
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Equities
Our equity market offering caters for the listing of trading companies and investment vehicles, including open and closed ended funds, as well as REITs, where TISE is home to more than 40% of the UK market.
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Sustainable
We host a comprehensive and increasingly popular sustainable market segment, TISE Sustainable, which caters for bond and equity issuers and securities supporting environmental, social or sustainable activities.
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Trading
We operate a bespoke auction-based trading system called NOVA which, providing auction choice and data transparency, enables our Trading Members to input trade orders for all traded securities listed on TISE.
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Private Markets
An innovative, integrated service providing unlisted companies with tailored electronic trading, settlement and registry solutions.
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Our Credentials
The fact that issuers from around the world and a variety of industries choose to list and trade securities on TISE is in itself a demonstration of the strength of our product and service offering.
A leading
European professional bond market
45%
of all UK REITs are listed on TISE
4,000+
listed securities on our market
£700 billion+
market value of all listed securities
2,000+
issuers with securities listed on TISE
35+
countries among the issuer base
Our Strengths
Issuers choose to list and trade securities on TISE because the products and services are provided in a responsive and innovative environment, which is evidenced through a number of ‘world first’ transactions, pioneering issuances and other more unique deals coming to our market.
Responsive Approach
We have a knowledgeable team which facilitates listings daily in-line with our TISE Guarantee to provide initial reviews of applications within 3 business days and all subsequent reviews within 1 business day.
Innovative Environment
Being agile, dynamic and open-minded means that we can quickly consider and introduce new products and services and as a result, a number of ‘world first’ transactions have come to our market.
Straightforward Process
There is a simple listing process where issuers are assisted by our experienced Members (acting as Listing Agents / Sponsors) who will complete the listing application through MyTISE, our online member services portal.
Competitive Pricing
TISE fees are highly competitive, representing great value. Listing fees offer the the certainty of being set by product type, rather than varying by market capitalisation, and there are Lifetime Fee options available for some bonds.
Proportionate Rules
We have distinct rulebooks for bonds, equities and trading, with each proportionate to the products and investors, and independent of UK and EU directives and regulations, which do not apply unless applied voluntarily.
Premier Locations
With staff operating across Dublin, Guernsey, the Isle of Man, Jersey and London, we are well-connected while also offering the advantage of a regulated market based outside both the UK and EU.
Global Standards
Our market authority regulates the marketplace to recognised global standards which are applied in a proportionate manner that seeks to balance the interests of all market participants.
International Recognitions
As set out further below, we have a number of international recognitions and memberships which enhance our credibility, put us as the heart of the capital markets community, and may widen the investor base of TISE listings.
Our Credibility
TISE has a wide range of international recognitions and memberships.
These enhance our credibility as a market, while also putting us at the heart of European and global industry discussions on the future of the capital markets.
In addition, many of the recognitions also help to widen the investor base for issuers with TISE-listed securities as it enables investor participation through their listed capital allocation. TISE is also a recognised stock exchange for the purposes of investment by UCITS established in the leading EU/EEA fund domiciles.
HMRC
Recognising Body
His Majesty’s Revenue & Customs (HMRC)
Status
Recognised Stock Exchange
Relevant Legislation
Section 1005 of the Income Tax Act 2007 of the United Kingdom
Principal Benefits
Securities listed on TISE can avail of the UK Quoted Eurobond Exemption (QEE) Securities listed on TISE can qualify for the UK Real Estate Investment Trust (REIT) regime Securities listed on TISE are eligible for investment by Self-Invested Personal Pensions (SIPPs) and Individual Savings Accounts (ISAs)
Irish Revenue Commissioners
Recognising Body
Irish Revenue Commissioners
Status
Recognised Stock Exchange
Relevant Legislation
Section 64 of the Taxes and Consolidation Act, 1997 of Ireland
Principal Benefits
Securities listed on TISE can avail of the Irish Quoted Eurobond Exemption (QEE)
US SEC
Recognising Body
US Securities and Exchange Commission (SEC)
Status
Designated Offshore Securities Market (DOSM)
Relevant Legislation
Rule 902(b) of Regulation S under the Securities Act of 1933, as amended
Principal Benefits
Securities listed on TISE can be issued outside of the US without the need for them to be registered with the SEC and with an exemption for the seller having to undertake the onerous requirements to be able to form a reasonable belief that the buyer is outside of the US
BaFin
Recognising Body
German Federal Financial Supervisory Authority (BaFin)
Status
Approved Stock Exchange
Relevant Legislation
Section 193 of the Capital Investment Act, KAGB (Kapitalanlagegesetzbuch)
Principal Benefits
Securities listed on TISE are automatically eligible assets as part of the ‘listed’ investment allocation of German insurance companies and German UCITS funds. This increases the potential investment which TISE listed products can receive from German domiciled UCITS funds
ASX
Recognising Body
Australian Securities Exchange (ASX)
Status
Recognised Stock Exchange
Relevant Legislation
ASX Operating Rules Procedures
Principal Benefits
In accordance with the ASX Operating Rules Procedures, ASX has approved TISE as a Recognised Stock Exchange
Guernsey Registry
Recognising Body
Guernsey Registry: (i) Registrar of Companies; (ii) Registrar of Beneficial Ownership of Legal Persons
Status
Recognised Stock Exchange
Relevant Legislation
Companies (Recognised Stock Exchanges) Regulations, 2019
Principal Benefits
Exempts Guernsey companies listed on TISE from certain requirements under Part XXIX of the Companies (Guernsey) Law, 2008 and Beneficial Ownership (Definition) Regulations, 2017 relating to the appointment of a Resident Agent and disclosure of beneficial ownership
GFSC
Recognising Body
Guernsey Financial Services Commission (GFSC)
Status
Named Securities Market
Relevant Legislation
Authorised Closed-Ended Investment Schemes Rules, 2021; Authorised Collective Investment Schemes (Class B) Rules, 2021; and Private Investment Fund Rules, 2021
Principal Benefits
Securities listed on TISE qualify as an ’approved security’ for the purposes of the rules, enabling the transaction to satisfy the criteria for best execution on-exchange
Isle of Man Treasury
Recognising Body
Isle of Man Treasury
Status
Recognised Stock Exchange
Relevant Legislation
Section 5(2)(b) of the Beneficial Ownership Act 2017
Principal Benefits
Exempts Isle of Man registered companies listed on TISE from certain requirements under the Beneficial Ownership Act 2017
JFSC
Recognising Body
Jersey Financial Services Commission (JFSC)
Status
Designated Investment Exchange
Relevant Legislation
Listed Fund Guide
Principal Benefits
Recognised exchange for closed ended Listed Funds which may be established using a streamlined authorisation process – enables TISE listed issuers to qualify for regulatory purposes
JFSC
Recognising Body
Jersey Financial Services Commission (JFSC)
Status
Exchange listed in Schedule 4
Relevant Legislation
(5(2)(a)(i) of Schedule 1 and Paragraph 4(1) of Schedule 2 of the Collective Investment Funds (Unregulated Funds) (Jersey) Order 2008
Principal Benefits
Recognised exchange for the listing and trading of units of an Unregulated Collective Investment Fund (relates to schemes that do not constitute a fund) – enables TISE listed issuers to qualify for regulatory purposes
AFME
Body
Association for Financial Markets in Europe (AFME)
Membership Type
Associate Member
Area of Focus
Represents the leading global and European banks and other significant capital market players, with the aim of acting as a bridge between market participants and policy makers across Europe
ICMA
Body
International Capital Market Association (ICMA)
Membership Type
Full Member
Area of Focus
Not-for-profit membership association, with a wide range of member firms active in the international debt capital markets
IOSCO
Body
International Organization of Securities Commissions (IOSCO)
Membership Type
Affiliate Member
Area of Focus
International body which brings together the world’s securities regulators and is recognised as the global standard setter for the securities sector
UN SSE
Body
United Nations’ Sustainable Stock Exchanges Initiative (UN SSE)
Membership Type
Partner Exchange
Area of Focus
Peer-to-peer learning platform for exploring how exchanges, in collaboration with investors, regulators, and companies, can enhance corporate transparency and ultimately performance on ESG