Listing an Investment fund/ETF on BDL Market

Listing on the Bourse de Luxembourg (BdL) market will require submission of a prospectus to Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF). Once the prospectus has been reviewed and approved, the fund will be listed and admitted to trading.

  • Choose a listing agent (optional)

    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.

    See our listing members
  • CSSF approval

    Prospectuses for open-ended UCIs for distribution in Luxembourg and listed on the BdL market are exempted from approval under the law of 2005 on prospectuses for securities.

    Prospectuses for closed-ended UCIs to be listed on the BdL market must be approved by the CSSF under the law of 2005 on prospectuses for securities. Send your prospectus to prospectus.approval@cssf.lu or visit the CSSF’s website for more information:

    Prospectuses (CSSF)

    LuxSE is responsible for approving prospectuses for foreign open-ended UCIs not being distributed in Luxembourg, according to Part 3, Chapter 2 of the Prospectus Law.

    Prospectus Law
  • Listing requirements

    In order to list on the BdL market, an issuer must fulfil the following criteria:

    • The share class to be listed are active and have a Net Asset Value
    • Investment funds are eligible for clearing and settlement
    • Shares/units of investment funds are freely transferable

    See Part 1, Chapters 5 and 7 of LuxSE’s Rules & Regulations for full details of our listing requirements.

    LuxSE Rules & Regulations
  • Listing process

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

    • A copy of your prospectus;
    • Application form
    • Undertaking letter
    • Articles of association or Management Regulations
    • Existing agreements/conventions
    • The last three annual financial reports 

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

    • Final version of the prospectus
    • First listing price (current NAV)
  • Fees

    The fee structure covers Luxembourg and EU undertakings for collective investment (UCIs) and non-EU UCIs.

    All fees are priced in euros.

    • Luxembourg and/or EU-domiciled UCIs
      Approval fee
      (if and as applicable)
      Per prospectus
        1,250
      Listing fee Per application
        1,250
      Maintenance fee Quotation line Per year
        1st line 1,875
        2nd line 1,250
        3rd line 875
        4th line 500
        Subsequent line 500
    • UCIs domiciled outside of the EU
      Approval fee
      (if and as applicable)
      Per prospectus
        2,500
      Listing fee Per application
        2,500
      Maintenance fee Quotation line Per year
        1st line 2,500
        2nd line 1,875
        3rd line 1,250
        4th line 625
        Subsequent line 625

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

    Listing fees booklet
  • Continuing obligations

    After listing and admission to trading, issuers are required to fulfil certain reporting obligations in compliance with applicable UCI laws or as outlined under the Law of January 2008, which implements the requirements of the EU Transparency Directive.

    Issuers must also file information and scheduled corporate events with LuxSE (Part 1, Chapter 9 of the Rules & Regulations). LuxSE Rules & Regulations

    Issuers on the BdL market can take advantage of LuxSE’s FIRST, a new integrated tool that distributes publications to the market, the Officially Appointed Mechanism (OAM) and the CSSF. By using FIRST, you will fully comply with all regulatory reporting obligations.

    FIRST

If you need more information

Contact us




portrait-API.jpg
Alex Picco

Head of Listing

+352 47 79 36 261 api@bourse.lu