The Exchange can admit to trading a comprehensive range of bonds on the Main Market. These range from the simplest ‘plain vanilla’ bonds to the most complex debt instruments. Bonds can be classified in many ways. Below is a breakdown of the bonds on our market by origination, maturity, form and structure.
Origination
‘Domestic’ bonds are denominated in the issuer's local currency and offered to local investors. ‘Foreign’ bonds are offered to investors outside the issuer's own country of registration and denominated in the currency of the market where they are listed. Eurobonds, are issued outside the issuer's country of registration in a currency other than that of the market where they are listed.
Maturity
Bonds listed on the Main Market range from money markets debt maturing within a year to long-term bonds with maturities of 15 years or more. Undated bonds, which pay interest in perpetuity, can also be listed on the Main Market.
Form and legal characteristics
Both registered and bearer bonds can be listed in on the Main Market as long as their associated rights remain transferable and negotiable.
Structure
Simple bonds listed in London include fixed rate, floating rate and zero coupon bonds. More highly structured instruments include asset-backed and
index-linked bonds.