On the 9th of March the London Stock Exchange Group (LSEG) announced an additional market for the issuance of primary debt targeted at institutional and professional investors, the International Securities Market (ISM). The exchange-regulated multilateral trading facility (MTF) market will operate alongside London Stock Exchange plc’s (LSE plc) other markets. LSE plc will publish a market consultation at the end of March on the ISM’s proposed rulebook, prior to the launch of the ISM expected in Q2 2017, subject to regulatory approval.
ISM has been designed to meet the demands of issuers and investors to improve the effectiveness and competitiveness of the UK primary debt markets. Our market feedback indicates there are a significant number of UK and international issuers with a clear preference to list debt on such a platform in London. ISM will provide greater choice for a variety of fixed income issuers seeking access to London’s uniquely deep pool of international capital, providing an efficient and customer focussed admission approach, underpinned by appropriate standards of regulation.
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