Trading Members

The trading of securities on the Exchange is undertaken by Trading Members via our bespoke trading system.

Quotations and orders can only be entered into the trading system by a Trading Member and while there are no restrictions on viewing the information contained in the trading system, investors and issuers who wish to trade at a price displayed must do so through a Trading Member.

This means that Trading Members are uniquely positioned to trade the securities on our Official List. Some trade their own products but being a Trading Member also enables firms to offer their clients access to our marketplace where there are international companies raising capital from investors based around the globe.

Approval

Firms are approved by the Exchange's market authority to be Trading Members based on their expertise. Our range of Trading Members already includes stockbrokers from the Channel Islands and the UK and we are extremely open to welcoming new entrants. There is an established process for on-boarding new Trading Members and we encourage early discussions with our team to ensure that this is as efficient as possible.

Market Makers

A Trading Member may register as a Market Maker in any listed security. Market Makers must enter and maintain two-sided quotations on the trading system, with quotations at least in the minimum quoted size for the security, as specified by the Exchange.

In securities in which there are fewer than two Trading Members registered as Market Makers, quotations input by the sole Trading Member shall be considered indicative.

Every transaction in a listed security must be reported to the Exchange by the Trading Member within three minutes of execution.

Trading Members may also input indicative quotations in any security in which they are not registered as a Market Maker. Input of the quantity of an indicative quotation does not have to be disclosed. Trading Members may input limit and indicative orders into the trading system in any security in which they are not registered as a Market Maker.

Trading Rules

The Trading Rules within Chapter 5 of the Membership Rules govern transactions undertaken by Trading Members, including those that register as Market Makers.

Membership Fees
Initial Membership Fee (Listing or Trading Member) £10,000
Initial Membership Fee (Listing and Trading Member) £15,000
Annual Membership Fee (a Listing and Trading Member will pay both annual fees) £6,300

 

To view a PDF flyer of becoming a Trading Member click here.

For more information please contact us.
John Inderwick
John Inderwick
Compliance Officer