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The International Stock Exchange has launched a new Qualified Investor Bond Market.
The QIBM represents a dedicated exchange offering for the listing of bonds marketed to ‘qualified investors’ such as institutional investors, professional investors and other investors experienced and knowledgeable in investing in bonds.
Anthony Byrne, Head of Bond Markets at TISE, said: "We experienced a record breaking six months in the first half of this year and now move to build on this growing success and increasing market interest through the evolution of our international bond listing proposition.
"The QIBM is a dedicated market for listing bonds being offered solely to qualified investors, providing several unique and compelling differentiators when compared with other European exchanges. I am very confident that existing and new clients will find it to be both a highly attractive and competitive offering.”
The key features of the QIBM comprise:
QIBM Listing Rules – A comprehensive bond rulebook incorporating a proportionate disclosure regime for all bond products;
TISE Guarantee – ‘3+1’ guaranteed review timelines provide certainty to clients through a commitment to conduct an initial review of listing applications within three business days of first submission and within one business day of subsequent submissions. This also applies to TISE’s Equity Market;
TISE Passport – A pan-European fast-track listing service available for those bond programmes already approved by a national competent authority within the EEA or UK;
TISE 1 Form - QIBM applications are made via the completion of a single, composite application form; and
Lifetime Fee - The QIBM Listing Fee Schedule introduces the option of a one-off Lifetime Fee payment solution for products such as corporate bonds, derivative bonds, securitisations including collateralised loan obligations, sovereign and other public bonds. A Lifetime Fee also applies to bonds issued by way of drawdown document or final terms, providing one of the most cost-effective programme offerings in Europe.
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