Listing a bond on the Euro MTF Market

It is not mandatory to appoint a listing agent to list at LuxSE; you can submit applications directly with us. However, you may choose to appoint a listing agent to submit requests on your behalf.

Our listing members can act as a listing agent for you.

In order to list on the Euro MTF, the bond must fulfil the following criteria:

• Minimum issue size of €200.000, or equivalent value in other currencies
• Bond should be eligible for clearing and settlement
• Bond should be freely negotiable and fungible

See Part 1, Chapters 5 and 7 of the Rules and Regulations for full details of our listing requirements.
 

File a prospectus
To begin the listing process, complete the following documents and send them to bolide@bourse.lu:

• A copy of the prospectus
• Application form
• Undertaking letter

Prospectus review
A first set of comments on a complete draft prospectus will be sent to you within a maximum period of three business days from the date of receipt of the filed application.

Additional comments following submission of an updated draft prospectus will be provided within a maximum of two business days after submission.

In the majority of cases, we are able to revert to you in less than 24 hours after submission of the updated draft prospectus.

Final submission
Listing can only take place once the prospectus is clear of comments and after receipt of the following:

• Final version of the prospectus
• First listing price (current market price)
• Closing confirmation
• Split of RegS - Rule 144A Notes (if applicable)

For more information about the application process, see Part 1, Chapter 4 of our Rules & Regulations.

All fees are paid to LuxSE and priced in euros.

• Bonds

  + -

  Approval fee  (if and as applicable)	First listing	Subsequent listing	Supplement
  		2,500	1,000	600
  Listing fee	First listing	Subsequent listing	Fungible
  		1,200	600	600

  Maintenance fee¹ per security per year	Issued amount (in € million)	First listing	Subsequent listing
  		Up to 50	500	300
  		Up to 100	650	450
  		Up to 500	700	500
  		More than 500	800	600

  An additional maintenance fee is charged when the post-fungible amount exceeds a certain threshold

• Structured investment products

  + -

  Structured investment products are structured notes, warrants or certificates that are based on an underlying security, stock, commodity or other financial instrument, and are issued by a credit institution or affiliate.

  Approval fee (if and as applicable)	First listing	Subsequent listing	Supplement
  		2,500	1,000	600
  Listing fee	First listing	Subsequent listing	Fungible
  		1,000	600	600

  Maintenance fee	Per security per year
  		300

  Maintenance fees are charged per ISIN and are payable up front for up to a maximum of 20 years.

For more details about fees, see our listing fees booklet.

After listing and admission to trading, issuers must fulfil specific reporting obligations. For example, issuers must file information and scheduled corporate events with LuxSE. Details are contained in Chapters 9 and 10 of LuxSE’s Rules & Regulations.

Issuers on the Euro MTF market can take advantage of LuxSE’s FIRST, an integrated tool that enables issuers to publish and disseminate information. By using FIRST, you will fully comply with all regulatory reporting obligations.

In the context of MiFID II / MiFIR and MAR, the LuxSE is obliged to collect a ‘Legal Entity Identifier’ or ‘LEI’ code from any issuer operating on its regulated market (Bourse de Luxembourg) and on its Multilateral Trading Facility (Euro MTF) and communicate it to the relevant supervisory authorities.

You can apply for and renew an LEI code directly via LuxSE.

For more information on how to list on the Euro MTF, read our Frequently Asked Questions.