TISE launches new Qualified Investor Bond Market

Friday 06 August 2021

The International Stock Exchange has launched a new Qualified Investor Bond Market.

It will offer a listing of ‘qualified’ investors, such as institutional investors and others, who are experienced and knowledgeable in investing in bonds.

Key features of the market are:

• 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.

Anthony Byrne, Head of Bond Markets at TISE, said: "I am delighted to launch TISE's new bond market, the Qualified Investor Bond Market."

He added: "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."