GXG Main Quote (formerly GXG MTF) offers cost effective access to a full public market quotation, providing a visible share price and access to the widest pool of potential investors.
Companies joining GXG Main Quote are not required to produce a prospectus as part of the admission process, which significantly reduces both financial demands and the demands placed on the management team in obtaining a market quotation.
Market Features
Companies seeking admission to GXG Main Quote typically have a market capitalisation of at least £1m at the time of admission, and will be expected to have public company status at the time of joining and must prepare and present their accounts in accordance with either IFRS accounting standards, UK GAAP (UK Generally Accepted Accounting Principles) or with the equivalent accounting principles of the company’s home jurisdiction.
Companies on GXG Main Quote benefit from having their share price displayed on Bloomberg’s terminals, website and smartphone investor apps, and from having their regulatory news and trading updates placed to both the market and secondary information providers such as Thomson Reuters.
The Main Quote Market provides a market quotation that is not considered a Full Market List and as such can assist the trading of shares without companies losing their shareholders’ tax benefits associated with investment schemes such as the UK’s Enterprise Investment Scheme (EIS).
An additional benefit is that stockbrokers, where their regulatory permissions allow, can advise and recommend stocks on the GXG Main Quote to their clients.
Because the GXG Main Quote uses the same electronic trading platform as the Regulated Market the market quotation is broadly speaking the same as offered by the Regulated Market. However, trading takes place under GXG Markets’ MTF license (Multilateral Trading Facility) so admission to the market is approved by GXG rather than the Danish FSA.
Admission Requirments
There are four main requirements for companies looking to join the Regulated Market:
- Companies must prepare and present their accounts in accordance with UK GAAP (generally accepted accounting principles) or equivalent status.
- They should already be operating as a public limited company at the time of joining the market.
- There should be a market capitalisation of at least £1m at the time of admission.
- Companies will need to appoint a corporate adviser approved by GXG (a list of approved advisers can be found here).
More information
You can download a copy of the GXG Main Quote Rules here, and contact us to discuss your situation and the applicability of the GXG Main List for your business.
You can also read about the process for joining GXG Main Quote and download application documentation.
Downloads
http://www.gxgmarkets.co.uk/images/documents/Main_Quote_Application_Guidelines.pdf
http://www.gxgmarkets.co.uk/images/documents/Main_Quote_Rules_Jan_2013.pdf
