Debt listing: Ongoing requirements in Vienna MTF

One of the main differences between the two markets operated by Vienna Stock Exchange is that of the ongoing requirements. Being an exchange regulated market, Vienna MTF is regulated on a bespoke set of rules tailored to require what is only absolutely necessary for the transparent operation of the market. 

Vienna MTF

Once debt securities are listed on Vienna MTF, the requirements that need to be met are outlined in the "Rulebook of the Vienna MTF" (pdf-file 1.5 MB). These requirements are mostly limited to MAR (Market Abuse Regulation) as dictated by EU-wide requirements. 

The rules of the exchange for debt securities listed on Vienna MTF can be summarized as follows with notification needed when:

1. The issuer changes (e.g. through M&A activity)
2. The name of the issuer changes
3. The repayment of the principal is jeopardised
4. Default on or postponement of coupon payments 
5. early redemptions

If there are changes to the terms and conditions, the Vienna Stock Exchange typically does not need to pre-approve these but expects to be informed as soon as they are authorized by the issuer's board.

Further details can be found in the respective fact sheets which can be found in the downloads section.

If you have any questions or inquiries, please do get in touch with our listing experts who would be happy to assist you.