Admitting securities to ISM requires a direct submission to London Stock Exchange. To support ISM issuers and advisers, the Primary Market Regulation team, with a depth of regulatory and fixed income experience, is responsible for managing the admission process.
Type of Securities |
Sch 1 |
Sch 2 |
Sch 3 |
Sch 4 |
Sch 5 |
Sch 6 |
Sch 6A |
Sch 8 |
Sch 9 |
---|---|---|---|---|---|---|---|---|---|
Vanilla Debt* |
✔ |
x |
✔ |
x |
x |
x |
x |
x |
x |
Asset backed* |
✔ |
✔ |
✔ |
x |
✔ |
x |
x |
x |
x |
Convertible* |
✔ |
x |
✔ |
x |
x |
✔ |
x |
x |
x |
Derivative* |
✔ |
x |
✔ |
✔ |
x |
x |
x |
x |
x |
Insurance linked securities* |
✔ | ✔ | ✔ | x | x | x | ✔ | x | x |
Securities issued or guaranteed by non-OECD Sovereigns or their regional and local authorities* |
x |
x |
✔ |
x |
x |
x |
x |
✔ |
x |
Simplified Disclosure* |
x |
x |
x |
x |
x |
x |
x |
x |
✔** |
* If guaranteed, the requirements of Schedule 7 must be complied with and the corresponding checklist completed. If completing any of the other checklists on behalf of a guarantor, please note that all references to the “issuer” in such checklists should be interpreted as references to the “guarantor”.
** Schedule 9 checklist will set out which, if any, other information checklists will also need to be completed and submitted.
We will provide our comments within three days of your first submission.
Step 3 - Final submission
Submit your:
(a) final admission particulars, if applicable; and
(b) final and signed ISM Form 1,
to the ISM applications team by 09.00 (UK local time) one business day before the day on which admission to trading or programme establishment/update is sought. Please note Admissions also have their own conditions for admission, which you will need to take into account for timing purposes.
In respect of the admission to trading of securities, we will notify, by RNS, the admission of the securities via a Dealing Notice. In respect of a programme establishment/update, a confirmation email will be sent to the advisers.