Admission to Trading Only
Admission to Trading Only refers to securities which are not listed in London or passported on to the Exchange’s regulated markets - the Main Market and the Specialist Fund Market. The issuers of these securities are required to:
- complete and sign Form 1 (in the case of issuers admitting depository receipts not listed elsewhere, a Form 1 (U-DRs))
- commit to comply with the London Stock Exchange's Admission and Disclosure Standards
- appropriate, comply with the standards of any other exchange where these securities are listed
- have the security (or the underlying security in the case of a depository receipt not listed elsewhere) listed on an exchange which is a full member of the World Federation of Exchanges and comply with its standards
- pay admission and annual fees to the London Stock Exchange as set out in our document, Fees for issuers www.londonstockexchange.com/mainmarket/usefuldocuments.
- submit the relevant documentation and fees to the Exchange by no later than 12.00 at least ten business days prior to the day on which the issuer is requesting that the Exchange consider the application for Admission to Trading Only.
The admission application will be reviewed by the London Stock Exchange’s Admissions Review Committee. The Committee assesses each application to ensure that an admission is not detrimental to the orderly operation of the Exchange’s markets or to the integrity of such markets. The Committee has an absolute right to reject any application as it thinks appropriate.
A derogation from these rules is possible only in exceptional circumstances with approval from the Admissions Review Committee.
For more information please contact our primary markets team.
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