Programme on the Euro MTF

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 market, a security issued under a programme must fulfil the following criteria:

• Securities are eligible for clearing and settlement
• Securities are freely negotiable and fungible

There is no minimum issue size for securities to be listed under a programme.

See Part 1, Chapter 6 and 7 of the Rules and Regulations for full details of our listing requirements.

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

• A copy of the base 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 base prospectus.

Final submission
The base prospectus will be approved once all comments have been addressed and the final version has been received.

A base prospectus is valid for one year and securities may be issued and listed under the programme during this period. Base prospectus supplements prepared by the issuer will also be subject to review and approval.

The base prospectus contains a Form of Final Terms that will need to be completed with the terms of each series to be issued. The final terms (pricing supplement) will not be subject to review and approval.

Listing tranches
In order to admit tranches to trading under a programme, the following files should be filed with LuxSE.

• A copy of the Final Terms (pricing supplement) 
• Information about the legal entity assuming the payment of the listing and maintenance fee
• First listing price (current market price)
• Split of RegS - Rule 144A Notes (if applicable)

There is no need to complete a new application form to list tranches under a programme. A request for admission should be filed no later than noon on the day prior to scheduled listing.

All fees are paid to LuxSE and priced in euros.

• Bonds

  + -

  Programmes
  	New	Update	Supplement
  Approval fee (if and as applicable)	1,200	600	400
  Listing fee	2,000	1,000	6001

  Tranches
  Approval fee ​(if and as applicable)	Drawdown/Unitary prospectus
  		600
  	Single fee	Fungible
  Listing fee	500	500

  Maintenance fee	Issued amont (in € million)	Per security per year
  		Up to 50	250
  		Up to 100	400
  		Up to 500	450
  		More than 500	500

  (1) Applicable only if the supplement includes an increase in the nominal amount

• 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.

  Programmes
  	New	Update	Supplement
  Approval fee (if and as applicable)	2,500	1,000	1,000
  Listing fee	3,000	1,500	1,0002

  Tranches
  Approval fee ​(if and as applicable)	Drawdown/Unitary prospectus
  		600
  Listing fee	Single fee	Fungible
  		500	600

  Maintenance fee	number of tranches3	Per tranche per year
  		From 1 to 500	300
  		From 501 to 1,000	200
  		Starting from 1,001	0

  (2) Applicable only if the supplement includes an increase in the nominal amount
  (3) Range applicable is based on the total number of new tranches (including fungibles) listed during the calendar year

For more details about fees, including fees for short term paper, 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.