MIR 3.9.1 Admission to trading

(a) The Recognised Investment Exchange must make clear and transparent rules concerning the admission of Financial Instruments to trading on any market operated by it.
(b) The rules must ensure that all Financial Instruments admitted to trading on any market operated by the Recognised Investment Exchange are capable of being traded in a fair, orderly and efficient manner.
(c) The rules must ensure that:
(i) all Financial Instruments admitted to trading on a market operated by the Recognised Investment Exchange are freely negotiable; and
(ii) all contracts for Derivatives admitted to trading on a regulated market operated by the Recognised Investment Exchange are designed so as to allow for their orderly pricing as well as for the existence of effective settlement conditions.
(d) The Recognised Investment Exchange must maintain effective arrangements to verify that Issuers of Financial Instruments admitted to trading on a market operated by it comply with its disclosure obligations.
(e) The Recognised Investment Exchange must maintain arrangements to assist users of a market operated by it to obtain access to information made public under its disclosure obligations.
(f) The Recognised Investment Exchange must maintain arrangements regularly to review whether the Financial Instruments admitted to trading on a market operated by it comply with the admission requirements for those Financial Instruments.
(g) The rules must provide that where a Recognised Investment Exchange, without obtaining the consent of the Issuer, admits to trading on a market operated by it a Financial Instrument which has been admitted to trading on another market, the Recognised Investment Exchange:
(i) must inform the Issuer of that Financial Instrument as soon as is reasonably practicable; and
(ii) may not require the Issuer of that Financial Instrument to demonstrate compliance with its disclosure obligations.
(h) The rules must provide that where a Recognised Investment Exchange, without obtaining the consent of the Issuer, admits to trading on an MTF operated by it a Financial Instrument which has been admitted to trading on a market, it may not require the Issuer of that Financial Instrument to demonstrate compliance with its disclosure obligations.