European directives drive markets and securities regulation. In Ireland, the ISE sets listing requirements for issuers. The ISE is also authorised by the Central Bank of Ireland to operate its four securities markets – the Main Securities Market (MSM), the Enterprise Securities Market (ESM), the Global Exchange Market (GEM) and the Atlantic Securities Market (ASM).
What are we responsible for?Setting requirements for: - listing of securities on our markets
- admission of securities to trading on our markets
- admission of member firms and traders, sponsors, ESM and ASM advisors
- reporting of trading activity by member firms
Reviewing and approving: - listing particulars of debt securities admitted to the GEM
- listing particulars for open ended investment funds
- listing and trading applications
Monitoring: - compliance by issuers with our rule books
- compliance by member firms, sponsors, ESM and ASM advisors with our rule books
- market activity for potential disorderly trading or market abuse
Reporting: - potential market abuse to the Central Bank of Ireland for further investigation
Investigating: - suspected insider dealing on the ESM, GEM and ASM and reporting this to the Office of Director of Corporate Enforcement
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How do we carry out our responsibilities?- we set rules for listing and admission to trading for issuers of securities
- we provide corporate governance disclosure requirements for equity issuers
- we set rules member firms, sponsors, ESM and ASM advisors
- we have four Regulatory Committees
- we monitor disclosures, news and market activity to identify potential breaches, disorderly trading and market abuse
- we monitor issuers on our markets and the activities of member firms, sponsors, ESM and ASM advisors for compliance with our rule books
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What are we authorised as?Authorisation | Authorised by | Regulatory Basis | What this means? | The Competent Authority for Listing | Department of Jobs, Enterprise and Innovation | European Communities (Admission to Listing and Miscellaneous Provisions) Regulations 2007, as amended | We admit securities to listing in Ireland. Find out more about how to list debt, shares, investment funds and exchange traded funds (ETFs) on our markets. | National Numbering Agency | ANNA (the Association of National Numbering Agencies) | www.anna-web.org | We provide ISINs (International Security Identification Number & CFI (Classification of Financial Instrument) codes for securities domiciled in Ireland. Find out more about our ISIN and CFI services. | Regulated Market and Multilateral Trading Facility (MTF) provider | Central Bank of Ireland | European Communities (Markets in Financial Instruments) Regulations 2007 | We operate 4 markets for securities: - Main Securities Market (regulated market)
- Enterprise Securities Market (MTF)
- Global Exchange Market (MTF)
- Atlantic Securities Market (MTF).
| Pre-LOU (Legal Operating Unit) in Ireland | Sponsored by the Central Bank of Ireland and endorsed by the Regulatory Oversight Committee (ROC) | www.leiroc.org | We issue LEI (Legal Entity Identifiers) - a global reference code which uniquely identifies each legal entity that engages in a financial transaction. Find out more about our LEI services. | Official Authorised Mechanism | The Central Bank of Ireland | Transparency (Directive 2004/109/EC) Regulations 2007 | We store “regulated information” as defined under the Transparency Directive so investors can access it easily. |
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What are others responsible for? |
Rule books |
Regulatory CommitteesCommittee | Role | Admissions | approve admission of member firms, sponsors, ESM and ASM advisors | Rules | review and approve proposed changes to ISE rule books | Discipline | hear and rule on disciplinary cases under the ISE rule books | Appeals | hear appeals allowed under the ISE rule books |
Terms of reference for Regulatory Committees (121 KB) |
