Eligible issuers and securities
The FastLane process will benefit the following types of issuances:
- Non-equity securities and equity convertible bonds issued by issuers whose shares are admitted to trading on a regulated market (within the meaning of MiFID II) or equivalent;
- Non-equity securities issued or guaranteed by states (other than Member States), their regional or local authorities;
- Non-equity securities issued by or guaranteed by Member States’ regional or local authorities;
- Non-equity securities issued by multilateral institutions which are not public international bodies, and of which at least one OECD Member State is a member;
- Securities issued by central banks;
- Securities issued by associations with legal status or non-profit-making bodies, recognised by a Member State or an OECD Member State, in order to obtain the means necessary to achieve their non-profit-making objectives.
The admission process
Qualifying issuers must file an “Admission Document” containing the terms and conditions of the securities for which admission to trading is sought, in a searchable electronic format. The LuxSE will neither review nor approve the Admission Document.
In addition to the Admission Document, an Application Form for obtaining a FastLane admission must be filled in and must include public sources of information about the issuer and the securities. The LuxSE can require the submission of any other document which it may deem necessary.
Timing and publication
The draft Admission Document must be submitted to the LuxSE at least 3 business days before the expected listing date and the final version must be submitted for publication on the LuxSE’s website no later than on the first trading day.
Ongoing disclosure obligations
For the avoidance of doubt, following a FastLane admission, issuers will become subject to the same ongoing disclosure obligations, including market abuse related obligations, as issuers whose securities are admitted to trading following the regular admission process.