The GSX Listing Codes (available at the bottom of the site) set out the process for listing and admission of Funds and Debt Securities to the GSX Main Market and Global Market, summarised below:
- Appoint a Member Firm. Applicants must appoint a Member Firm which is responsible for dealing with the Gibraltar Stock Exchange on all matters relating to the application, listing, and continuing obligations of all securities admitted to the Official List. Member Firms conduct thorough due diligence on applicants in accordance with standardised criteria including, in many circumstances, the use of an accredited third party to perform commercial due diligence.
- Prepare your Prospectus/Listing Particulars. All securities seeking admission to GSX must publish a prospectus (Main Market) or listing particulars (Global Market). GSX has published Prospectus Handbooks which help prepare the prospectus and/or listing particulars.
- Submit your documentation. Your Member Firm will submit your prospectus and/or listing particulars and supporting documents to GSX.
- Review by GSX and the Listing Authority. The application is reviewed by GSX initially. Comments are returned within 5 business days on the first submission and 3 business days on any subsequent submission. Once comments are cleared, GSX will submit the final prospectus and listing documents to the Gibraltar Regulator (GFSC) for approval (if listing on the Main Market) or will proceed to approval (if listing on the Global Market).
- Approval. GSX will inform the Member Firm when the prospectus or listing particulars are approved.
- Publication. The approved prospectus or listing particulars are published by GSX on its website.
- Announcement of admission. GSX announces the admission of your securities to the market via a formal notice. The securities are included in the Official List.