Compare our debt markets

Our debt markets at a glance

  • Main Market is London Stock Exchange’s Regulated Market, with disclosure rules aligned to Prospectus Regulation. The Financial Conduct Authority (FCA) approves Prospectuses for admission to the Main Market. As a Regulated Market, securities admitted to other Regulated Markets can be passported onto the Main Market. LSEG works closely with the FCA and key advisers on deals to provide an efficient listing process that best suits the needs of issuers.
  • International Securities Market (ISM) is LSEG’s Exchange Regulated Market and operates as a Multilateral Trading Facility (MTF) under UK law. ISM operates under its own Rulebook, which provides for tailored Admission and Disclosure requirements. ISM’s dedicated and knowledgeable Primary Markets Regulation team is responsible for reviewing Admission Particulars and assessing the eligibility of issuers and their securities for admission to ISM.

Both markets offer an efficient and convenient listing process. The table below explains in more detail the differences between the markets.

Find out which market best suits your needs

  Main Market ISM

Transferability

Must be freely transferable Must be freely transferable

Trading functionalities available

Both the Main Market and ISM offer Trade Reporting Only and Order Book functionalities Both the Main Market and ISM offer Trade Reporting Only and Order Book functionalities

Post-trade - Settlement

Electronic settlement required Electronic settlement required

Choose from our leading global markets

Main Market

London Stock Exchange's Main Market is the UK's principal regulated market for bond issuance and is a globally recognised listing venue for domestic and foreign issuers, including a number of sovereigns.

International Securities Market

London Stock Exchange’s International Securities Market (ISM) operates alongside our other fixed income markets, offering a full suite of options for issuers.

Fees for issuers

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