The derivative investment instruments (e.g. investment certificates, warrants, structured bonds, etc.) can be traded on both the Regulated Market and the Free Market (a segment of the multilateral trading facility). For admission to the both markets of the Exchange, it is necessary to fulfill the legal requirements and the applicable European laws.
Who are these markets intended for?
On the companies, whose investment instruments are to be traded on the Regulated Market, are imposed higher duties and requirements than those with the issues traded on the unregulated markets. On the companies, whose investment instruments are to be traded on the Free Market, are imposed duties and requirements only by the relevant Exchange rules.
After the admission to the Regulated Market or to the Free Market each issuer undertakes to fulfil its disclosure duty in Czech, Slovak or English.
What needs to be done to be admitted to the Regulated Market?
For the admission of issue of structured products on any market of the Exchange, the following must be submitted:
- application for admission
- investment instruments prospectus,
- certification of ISIN allocation or that of similar identification code
- link to the source with up-to-date and reliable information about the underlying assets for the investment derivatives
- signed framework agreement between the issuer and the Exchange.
The application may be submitted via email as well. The Exchange CEO must decide about the admission of an issue of investment instruments within 10 business days of the delivery of the respective application.
Admission of one issue of the investment certificates, warrants or similar investment instruments is only subject to a lump-sump fee of CZK 5,000 (in case of more issues, the maximum fee equals CZK 100,000 per year for all the issues of one issuer). Admission of the approved program is subject to a fee of CZK 100,000.