Stock market meaning

In March 2018, Euronext acquired the Irish Stock Exchange plc, which then joined Euronext’s federal structure and now trades as Euronext Dublin, with Ireland recognised as one of Euronext’s six core countries. Euronext is the foremost pan-European marketplace in the Eurozone, operating across Belgium, France, Ireland, The Netherlands, Portugal and the UK. Its mission is to energise pan-European capital markets to fund the real economy, uniting buyers and sellers in venues that are transparent, efficient and dependable. What are the rules applicable to listing debt securities on Euronext Dublin? Euronext Dublin—EU Regulated Market The Central Bank of Ireland (CBI) is the competent authority responsible for reviewing and approving a prospectus (Prospectus) for the purposes of the Prospectus Regulation (EU) 2017/1129 (PR). The PR prescribes the relevant annex items to be included in a prospectus, depending on the issuer’s profile and the nature of the transaction. The European Union (Prospectus) Regulations 2019 (the Irish Regulations) took effect on 21 July 2019, replacing the prior Irish Prospectus (Directive 2003/71/EC)...

For further details on the documents outlined below, please refer to Practice Note: Issuing debt securities—key documentation. Appointment of the arranger The issuer (Issuer) designates an arranger (Arranger) to set up the programme. The Arranger may additionally serve as a dealer or manager for later note issues under the programme. Responsibility —Issuer and Arranger. Appointment of the dealers The dealer(s) (Dealers) will enter into a dealer agreement with the Issuer and the Arranger. For a syndicated issue, the Dealers and the Issuer may also sign a subscription agreement. New dealers may be added to the programme after launch via a dealer accession letter. Responsibility —Dealers, Arranger and the Issuer. Appointment of the agents The Issuer will appoint agents to act on its behalf for the programme. These may include a fiscal agent (Fiscal Agent) or a trustee (appointed by the Issuer to represent the interests of the noteholders),...

This Practice Note serves as an initial guide to listing debt securities on the London Stock Exchange (LSE). It outlines the ideas of listing and admission to trading, and centres on the main markets for listing debt instruments. It does not aim to detail every applicable requirement and provides links to relevant resources for further reading. It also excludes disclosure requirements and ongoing continuing obligations. Principal markets for debt securities listings The LSE operates several markets, but the venues commonly used for debt capital market listings are: the Main Market the International Securities Market (ISM) the Professional Securities Market (PSM) (Note: From 19 January 2026, the PSM is closed to new admissions) In addition, the LSE runs two markets tailored to particular segments of the debt securities space: the Order book for Fixed Income Securities (OFIS) the Sustainable Bond Market Listing or admission to trading––what is the difference? ‘Listing’ means admission of...

This diagram clearly outlines the key steps for listing and admitting debt instruments for trading on the London Stock Exchange’s Main Market (LSE)...

In this issue: UK antitrust UK mergers UK private actions UK market studies UK subsidy control EU antitrust EU State aid EU digital markets LexTalk®Competition: a Lexis®Nexis community Daily and weekly news alerts New and updated content Caselex UK antitrust CAT holds Deckers breached the Chapter I prohibition concerning restrictions on the sale HOKA running shoe brand The CAT handed down its judgment in Up & Running (UK) Limited v Deckers UK Ltd, a damages action brought by Up and Running (UK) Limited (Up & Running) against Deckers UK Limited (Deckers), alleging an infringement of the Chapter I prohibition under the Competition Act 1998 in relation to the sale of the HOKA running shoe brand. The CAT found that Deckers infringed the Chapter I prohibition by restricting the sale of those running shoes. Background Up & Running operates a retail business focused on specialist running footwear and accessories. Deckers...

Microlise Group plc Microlise Group plc, a supplier of fleet-tracking software used by Serco and mail carrier DHL, said in a statement to the London Stock Exchange that it intends to have its services 'largely back to normal' within a week, following a cyber-attack that targeted its network. The software company first reported the attack in a statement to the stock market on 31 October 2024. Microlise said it does not expect the attack to materially affect its financial forecasts or its overall financial position. The announcement did not disclose which of its corporate customers were impacted by the incident...

On 7 August 2024, the insurer—listed on the London Stock Exchange yet domiciled in Bermuda—confirmed the loss would be borne by both its Lloyd’s of London syndicate and its reinsurance arm within the group. The MV Dali container vessel struck the Francis Scott Key Bridge soon after its departure from the Port of Baltimore on 26 March 2024, bringing down part of the structure and leading to fatalities. Specialists now forecast it will count among the priciest marine insurance catastrophes for the market overall...

This Practice Note summarises the law, guidelines and market practice in relation to holding a general meeting It serves both practitioners and company secretaries dealing with and advising companies whose equity shares are listed on the Main Market of London Stock Exchange plc (listed companies), as well as companies with equity shares admitted to AIM (AIM companies). For details on the notice requirements for a general meeting of a listed or AIM company, refer to Practice Note: General meetings—notice requirements for listed public companies for further information and context. Members of a company may convene and hold a general meeting at any time, and as frequently as required within a year, as needed, so that they can pass resolutions to implement specified changes or to authorise particular actions. The Companies Act 2006 (CA 2006) sets out detailed provisions governing the calling and conduct of general meetings. The CA 2006 also imposes additional obligations on a public company that is a traded company or a quoted company. This captures listed...

CASE HUB (NOTE—appeal lodged before the Court of Justice in Case C- 539/18) ARCHIVED —this archived case hub reflects the position at the date of the judgment of 26 September 2018; it is no longer maintained. See further, timeline, commentary and related cases. Case facts Outline Case T-621/16, České dráhy v Commission (Twins) — an appeal before the General Court challenging the European Commission’s decision to order inspections under Article 20 of Regulation 1/2003, connected to the ongoing so-called Twins investigation (AT.40401). Latest development On 20 June 2018, the General Court delivered its judgment, by which it dismissed an action brought for annulment of the Commission’s decision that authorised dawn raids in question. Parties Applicant: České dráhy (CD), the principal railway operator in the Czech Republic. Defendant: the European Commission. Background The Commission’s ongoing Twins (AT.40401) probe concerns alleged infringements of Article 101 TFEU relating to agreements or concerted practices intended to exclude rival rail passenger...

CASE HUB ARCHIVED This archived case hub captures the position as at the final decision dated 2 June 2025; it is no longer maintained. See further, timeline and commentary Case facts Outline of an Article 101 TFEU investigation into a cartel in the online food delivery sector (AT.40795). The conduct included no‑poach arrangements, the exchange of information, and market allocation practices. Latest development On 2 June 2025, the Commission adopted its infringement decision after both firms acknowledged taking part in the cartel. Aggregate fines amounting to €329m were levied. Total fines imposed on each party were as follows: Delivery Hero—€223,285,000 (including a 10% reduction for settlement) Glovo—€105,732,000 (including a 10% reduction for settlement) Parties Delivery Hero SE (Delivery Hero): Delivery Hero, a German‑based business, operates in food delivery services. It currently has a presence in more than 70 countries worldwide, 16 of which are within the EEA. It works with hundreds of thousands of restaurants....

VERIFICATION NOTES These verification notes concern the prospectus (the Prospectus ) to be issued in connection with the proposed [ placing OR placing and open offer OR rights issue ] ( Capital Raising ) of [ up to ] [ insert number ] new [ insert class ] shares of [ insert nominal value ] each (the Shares ) of [ insert name of the Company ] together with the admission of the Shares to listing on the Official List of the Financial Conduct Authority ( FCA ) and to trading on the Main Market of the London Stock Exchange ( Main Market ). These Verification Notes (the Notes ) have been prepared by [ insert details of Company's solicitors ] for the purposes of protecting the Company, the directors of the Company (the Directors ) [ , the Proposed Directors of the Company (the Proposed Directors ) ] and others involved with the Capital Raising and the drafting of the Prospectus, which relates to the application for the...

STOP PRESS : Major changes to the UK prospectus framework took effect on 19 January 2026. The updated regime for public offers of securities and for admissions to trading in the UK is primarily contained in the Public Offers and Admissions to Trading Regulations 2024 (SI 2024/105) (the POATRs) and the FCA sourcebook, The Prospectus Rules: Admission to Trading on a Regulated Market (PRM). The UK Prospectus Regulation and the FCA Prospectus Regulation Rules have been revoked. These reforms aim to streamline capital raising and significantly reduce the instances when a company must produce an FCA-approved prospectus for a further share issue. Accordingly, fewer further issues will necessitate an FCA approved prospectus. For a full explanation of the changes, see Practice Note: UK prospectus regime reform. This Practice Note covers the prospectus regime that applied before 19 January 2026. UKLR: UK Listing Rules PRR: Prospectus Regulation Rules DTR: Disclosure Guidance and Transparency Rules LSE A&D: London Stock Exchange’s Admission and Disclosure Standards... ...

Private and confidential [ Insert company name ] (Company) Introduction Director's questionnaire To be completed by [ insert date ] This questionnaire is issued in relation to the intended [ placing OR open offer OR rights issue ] of [ insert amount ] ordinary shares of [ insert nominal value ] pence each in the capital of the Company ( Ordinary Shares ), and the intended application for admission of the Ordinary Shares to [ listing on the Official List of the Financial Conduct Authority and to trading on the market for listed securities operated by London Stock Exchange plc OR trading on AIM ] ( Admission ). This document is important and you must respond to all questions honestly and without omission. Please complete every question in full and, if the space available is not sufficient, include any additional details on a separate sheet of paper, duly signed, dated and attached to this questionnaire. If the correct response is in the negative, please state...

Recognised growth market exemption from stamp duty and SDRT The recognised growth market exemption from stamp duty and SDRT covers securities admitted to trading on a recognised growth market, provided they are not listed on any market. Although people often say AIM shares are ‘listed on AIM’ or ‘AIM listed’, they are in fact unlisted; it is therefore better to describe them as ‘AIM traded shares’ or simply ‘AIM shares’. They are classed as unlisted because they are not included in the UK official list. Under section 1005(3) of the Income Tax Act 2007 (ITA 2007), a security admitted to trading on a UK recognised stock exchange counts as ‘listed’ only if it appears on the UK official list. Furthermore, section 99A(3) of the Finance Act 1986 confirms that the meaning of ‘listed’ in ITA 2007, s 1005(3)–(5) also applies to the references to ‘listed’ within the recognised growth market exemption from stamp duty and SDRT...