The Luxembourg Stock Exchange enables issuers to register DLT Financial Instruments on the Securities Official List

On 31 January 2022, the Luxembourg Stock Exchange (“LuxSE”) published new guidelines regarding the registration of certain distributed ledger technology financial instruments (the “DLT Financial Instruments”) onto its Securities Official List (“SOL”) (the “Guidelines”).

SOL is the specific section of the official list of the LuxSE where securities are listed without admission to trading on the EuroMTF market or the regulated market (Bourse de Luxembourg) of LuxSE.

This registration will enhance the visibility of DLT Financial Instruments and facilitate the dissemination of indicative prices and securities data in relation thereto.

In order to be eligible for registration onto the SOL, the DLT Financial Instruments need to comply with the following criteria:

• debt instruments offered exclusively to qualified investors[1] or issued in a denomination per unit that amounts to at least EUR 100,000;
• issuers having previously issued securities in capital markets or applicants having a proven track record in capital market transactions; and
• pricing in FIAT currency.

Finally, the Guidelines provide a detailed list of information to be also included in the “Information Notice” (as defined in the LuxSE SOL Rulebook) to be provided when applying for registration onto the SOL such as information of the DLT Financial Instrument, confirmation that the DLT Financial Instrument qualifies as securities, description of the risk factors, the settlement process and the underlying DLT and environmental considerations on the DLT used.

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[1] As defined under EU Regulation 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, also known as the “Prospectus Regulation”.