How to admit securities to the International Securities Market

A collection of International Securities Market factsheets, disclosures and application documents.

Admitting securities to ISM requires a direct submission to London Stock Exchange. To support ISM issuers and advisers, the Primary Market Regulation team, with a depth of regulatory and fixed income experience, are responsible for managing the admission process.

Full details on how to make an application are set out below.

How to be admitted to trading

Admission to trading on ISM requires a direct submission (no listing agents are required). Full details on how to be admitted to trading are set out in Section 3 of the ISM Rulebook and summarised below. Any queries should be submitted to

Initial submission

  1. Submit your (a) draft admission particulars, if applicable; (b) draft ISM Form 1 (which should be completed to the extent possible); (c) eligibility checklist (unless it is a tap issue of a security already admitted to ISM) and relevant information checklists to (checklists only need to be submitted with initial draft and no annotation of the admission particulars   is required); and any omission of information request, if applicable to
  2. The table below provides a summary of the information checklists that need to be completed for an issuer and for the securities which are seeking admission to trading on ISM. Please contact the Exchange at the earliest possible stage if in doubt about which checklists are applicable to your transaction.

    Type of Securities Sch 1 Sch 2 Sch 3 Sch 4 Sch 5 Sch 6 Sch 8 Sch 9

    x x x x x x
    Asset backed* x x x x
    Convertible* x x x x x
    Derivative* x x x x x
    Securities issued or guaranteed by non-OECD Sovereigns or their regional and local authorities* x x x x x x x
    Simplified Disclosure* x x x x x x x ✔**

    *If guaranteed, the requirements of Schedule 7 must be complied with and the corresponding checklist completed. If completing any of the other checklists on behalf of a guarantor, please note that all references to the “issuer” in such checklists should be interpreted as references to the “guarantor”. 

    **Schedule 9 checklist will set out which, if any, other information checklists will also need to be completed and submitted.

  3. We will provide our comments within three days of your first submission.

Subsequent submissions

  1. Your reply to our comments email should include (a) any responses to our comments; and (b) revised draft admission particulars, if applicable.
  2. We will provide our comments within two days of your subsequent submissions.

Final submission

  1. Submit your (a) final admission particulars, if applicable; and (b) final and signed ISM Form 1 to by 9 a.m. (UK local time) one business day before the day on which admission to trading is sought.
  2. When we confirm eligibility of your admission particulars, we will announce the decision to admit the securities to ISM via a Dealing Notice which will be announced on RNS.


Pricing supplements

  • For pricing supplements issued under a programme facility established on ISM, the pricing supplement needs to be submitted to before 2 p.m. (UK local time), one business day prior to admission to trading.

Supplementary admission particulars

  • Submit supplementary admission particulars to and we will endeavour to process within one business day.