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Euronext Markets Listing Process
Please find below the material required to prepare an ETF Listing Form application on the Euronext Cash Markets.
Should you have any queries, please do not hesitate to contact [email protected] or +33 (0)1 49 27 15 20.
Please note that for the listing of an ETF to take effect, all materials listed below must be submitted to Euronext:
1. ETF Listing Form
2. Portfolio Composition File (PCF)
3. iNAV
4. Inclusion Agreement
EuronextETP Corporate Actions14, Place des Reflets92054 Paris La Défense Cedex France
After the listing has been approved, the Relevant Euronext Market Undertaking (REMU) will send the Issuer a signed original copy by post.
5. Liquidity Provision Agreement
· ETF Listing Form duly completed with the relevant information and submitted to Euronext (including the Prospectus and the Key Investor Information Document) (1).· Daily submission of the Portfolio Composition File (PCF) in the required format (2).· Calculation and publication of the indicative Net Asset Value (iNAV) (3).· Two original copies of the Inclusion Agreement (for new Issuers) signed by the Issuer’s representative (4).· Execution of at least one Liquidity Provision Agreement between the Relevant Euronext Market Undertaking and the Issuer (5).
The ETF Listing Form must be submitted by the Issuer to ensure that Euronext has all the necessary data and information regarding the listing in its database. All the fields should be filled in by the Issuer, who must then send the completed excel sheet to [email protected] the first ETF admission, Euronext requires one original copy of the ETF Listing Form, signed by the Issuer’s representative. For the next admissions, the ETF Listing Form should be sent as signed PDF to [email protected].
Issuers are required to provide Euronext with a Portfolio Composition File (PCF) for each listed ETF of the relevant fund on a daily basis. The PCF should be in the format required by Euronext and must be uploaded to Euronext’s FTP server every day before 08:30 CET.
Testing and validation of PCFs usually takes approximately one week. The listing of an ETF can only take place after the PCFs have been fully tested and approved.
The Issuer must calculate the iNAV of each ETF and disseminate the information to global data vendors, or may request a third party to do this on its behalf. The iNAV should be disseminated in real time if at least one of the underlying components is traded during Euronext trading hours. The iNAV must also be disseminated on the TDRPRC_1 field of a Reuters page. In both cases, the Issuer shall have the sole liability for the calculation and dissemination of the iNAV.
At the request of the Issuer, Euronext may calculate and disseminate the iNAV on the basis of the information provided by the Issuer in the Portfolio Composition File. To allow the calculation of the iNAV, the underlying value of the index must be disseminated in real time if one of its components is traded during Euronext trading hours. The iNAV must be disseminated on the TDRPRC_1 field of the appropriate Reuters page.
Euronext shall not be held liable for the calculation and dissemination of the iNAV except in cases of gross negligence or wilful misconduct. Please note that the calculation of the iNAV by Euronext does not relieve the Issuer of the obligation to publish information as detailed above as required by applicable laws, rules and/or regulations.
For products from new issuers, we require two original copies of the Inclusion Agreement duly signed by the Issuer’s representative. The relevant documents should be sent by post to:
Euronext rules require that at least one signed Liquidity Provision Agreement must exist between the Relevant Euronext Market Undertaking and a Liquidity Provider for each new ETF. This document should be sent to [email protected].
ETF LISTING FORM
Date: Signature of the Authorized Representative:
Title:
Phone:
Email:
As an active Issuer, we request Euronext to admit to listing the following ETF(s) under the following conditions:
Instrument 1 Instrument 2 Instrument 3 Instrument 4 Instrument 5
A
ETF ISINETF NameETF Trading NameTarget listing dateIssuer legal name
Issuer Marketing NameIssuer short name
Billing adressVAT number
LEI CodeFund manager legal name
Issuer email contact Market of ReferencePrimary Euronext MarketEuronext Listing Venue 2Euronext Listing Venue 3
REMINDER This file consists in Part A and B of the ETF Listing Form as referred
as to the left-hand column. This ETF Listing Form is an integral part of the
Inclusion Agreement. Please fill and send this file at least 5 business days before the target listing date and as the case
may be with the original executed copy to follow by post to Euronext ETP
Corporate Actions, 14 Place des Reflets 92054 Paris La Défense Cedex France is as mentioned below in the section ii) of
the Part A.
Name of Authorized Representative:
i) The Issuer is responsible for the information provided on this ETF Listing Form. This form will be implemented as submitted to us. Euronext cannot take any responsibility for any errors. The issuer shall be responsible for respecting the following conditions as applicable at the latest two opening days before the listing date of the ETF:- The issuer shall obtain a local regulatory authorization for the relevant listing- The Investment Fund shall be registered with the appropriate clearing and settlement systems- The issuer will upload on the dynamic Listing Form the full Prospectus and the Key Investor Information Document before sending the request to Euronext- The index provider will present on a daily basis the portfolio composition file (PCF) with the required content and in the required format
ii) Each ETF Listing Form shall be received by Euronext as follows: - The first application of the ETF Listing Form to Euronext shall be executed in writing ( in hard copy) and uploaded with the macros (only Part A ).
TEMPLATETEMPLATE In Progress…
A
ETF ISINETF NameETF Trading Name Target listing dateIssuer legal name
Issuer Marketing NameIssuer short name
Billing adressVAT number
LEI CodeFund manager legal name
Issuer email contact Market of ReferencePrimary Euronext MarketEuronext Listing Venue 2Euronext Listing Venue 3
B
Euronext Listing Venue 4ETF Legal StructureETF/INAV Trading CurrencyETF DomiciliationIssuer Representative namePCF email ContactPCF Name
Target ETF SymbolUCITS compliantETF CFI codePEADividend frequencyReplication MethodNAV in EURNAV Valuation dateOutstanding sharesTER (%)Tick SizeInternational ETFLiquidity Provider name
New Liquidity Provider Name