The Global Exchange Market (GEM) is a market for debt securities aimed at professional investors.  It is authorised as a multi-lateral trading facility (MTF) under the European Communities (Markets in Financial Instruments Directive) Regulations 2007. Securities listed on GEM can trade via the ISE’s trading platform, ISE Xetra®,

The ISE has established the GEM Rules in its capacity as the competent authority for listing in Ireland and as the operator of this MTF. 

The ISE monitors issuers’ compliance with the GEM Rules including:

• Ensuring that issuers meet the conditions for listing and trading;
• Reviewing and approval of listing particulars;
• Monitoring compliance by issuers with continuing obligations. 

GEM Rules 

An issuer that has, or is seeking to have, its debt securities admitted to listing and trading on the GEM is required to comply with the GEM Rules.

The GEM Rules set out:

• Conditions for admission to listing and trading on the GEM;
• Structure and content of listing particulars
• Listing procedures;
• Continuing obligation requirements; and
• Compliance and enforcement procedures.

The GEM Rules for listing Global Depository Notes are contained in a standalone publication.

GEM Forms

GEM Application Form

Listed Sedol Code Application Form

Account Information Form

Listing Agent Declaration

GEM Checklist