The ISE seeks to deliver high quality issuer and market oversight that:
- Ensures the integrity of the ISE’s markets;
- Ensures appropriate levels of transparency for investors; and
- Enhances the reputation of Ireland as a capital markets jurisdiction.
Competent Authority for Listing
As competent authority for listing in Ireland under the European Communities (Admission to Listing and Miscellaneous Provisions) Regulations 2007, the ISE regulates:
- Issuers seeking admission of securities to official listing on the ISE; and
- Issuers with securities admitted to official listing on the ISE;
The ISE monitors compliance by issuers with their obligations under the Consolidated Admissions and Reporting Directive (CARD), the Listing Rules of the ISE, the Investment Funds Rules and the GEM Rules.
Authorisation as a market operator
The ISE is authorised under the European Communities (Markets in Financial Instruments) Regulations 2007 (‘MiFID’) to operate a regulated market and two multilateral trading facilities (MTF):
- Main Securities Market (regulated market);
- Enterprise Securities Market (MTF);
- Global Exchange Market (MTF).
The ISE has established:
- The Rules of the ISE which apply to member firms and registered traders; and
- The Admission to Trading Rules which apply to issuers with, and seeking to have, their securities admitted to trading on the ISE.
The ISE monitors member firms and registered traders’ compliance with the Rules of the ISE and issuers for compliance with the Admission to Trading Rules.
As an authorised market operator and in accordance with its obligations under MiFID, the ISE monitors transactions undertaken by market participants to identify:
- Breaches of the Rules of the ISE;
- Disorderly trading conduct; and
- Conduct that may involve market abuse.