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Euro MTF Specialist Securities Segment (EM3S)
Bring your sophisticated securities to professional investors
The Euro MTF Specialist Securities Segment (EM3S) was designed to meet the needs of issuers of highly specialised financial instruments tailormade for a limited circle of professional investors. With EM3S, you can unlock the benefits of a listing while protecting your investment strategy and the unique structure, conditions and characteristics of your financial instrument.
Profit from a listing while protecting your know-how
As the world’s leading exchange for the listing of international debt instruments, at LuxSE, we strive to offer bespoke listing solutions tailored to a broad range of issuers with unique needs and strategies. With EM3S, we expand our listing offering to cater to sophisticated securities designed for a limited group of professional investors, and where issuers need to protect their know-how to stay ahead of the curve.
This new professional segment under Euro MTF was designed to balance professional investors’ need for information and issuers’ need to protect commercially sensitive information about their distinctive financial instrument. As limited disclosure rules apply in the listing process, EM3S makes it possible for issuers of specialist securities to obtain a listing and admission to trading while protecting their signature investment strategies as well as the structure, conditions and characteristics of their bespoke financial instruments.
EM3S is limited to professional investors. To ensure transparency for eligible investors, issuers opting for a listing on EM3S commit to making the Terms & Conditions available to investors on demand.
Explore the benefits
No documents published
EM3S securities are exclusively available to professional investors. Meet your investors’ needs while protecting commercially sensitive information.
Limited disclosure
Access the benefits of Euro MTF while enjoying less stringent admission disclosure requirements. Information will not be made publicly available but strictly limited to professional investors.
No prospectus approval
A prospectus is not required for listings on EM3S. The necessary information can be submitted in the application form and no formal approval will be given by LuxSE as part of the listing process.
Admitted to trading
All securities on EM3S are admitted to trading on Euro MTF. Unlock all the benefits of a listing without giving away your competitive edge.
List your security on EM3S
To list a financial instrument on EM3S, issuers will need to fill in and submit a dedicated application form. While public disclosure is limited in the listing onboarding phase, ongoing disclosure obligations remain the same as for Euro MTF and as described in the applicable Rules & Regulations. To ensure transparency for investors, issuers will need to commit to making the Terms & Conditions available to professional investors upon request.
For more information about eligible securities, please go to LuxSE's Rules & Regulations, which have been updated to provide further clarity to issuers and investors alike, or contact our team.
For more information about eligible securities, please go to LuxSE's Rules & Regulations, which have been updated to provide further clarity to issuers and investors alike, or contact our team.
Contact our experts
Carlo Houblie
Commercial Director
+352 47 79 36 471
Carlo Oly
Regional Head Western & Northern Europe
+352 47 79 36 227
Disclaimer
The professional segments (the “Professional Segments”) of the securities markets operated by the Luxembourg Stock Exchange (“LuxSE”) are the division of LuxSE’s relevant securities market, which is accessible only to Professional Clients or Qualified/Well-informed Investors, as defined under LuxSE Rules & Regulations (“R&R”).
Issuers specifically apply to have their financial instruments admitted to any of the Professional Segments. Access by Members to any of the trading group(s) under the relevant Professional Segment is on demand only. LuxSE does not verify and is not responsible for verifying whether clients/investors are qualified to operate in the abovementioned Professional Segments. Members shall, under their full responsibility and control, verify and ensure that orders involving instruments traded on any of the Professional Segments do not come from clients other than Professional Clients or Qualified/Well-informed Investors. Further information on the Professional Segments is available on LuxSE Trading Manual and in the R&R. The information, data and prices (if any) displayed on this page (collectively the “Information”) are made available for general information purposes. LuxSE does not give any representation or warranty and disclaims any liability or responsibility of any kind in connection with the accuracy, correctness, timeliness, fitness for a particular purpose, reliability or completeness of the Information. LuxSE does not accept any liability or responsibility of any kind for any loss or damages arising directly or indirectly from the use of or any action refrained or taken on any Information. The Information does not constitute and is not construed as any advice, solicitation, offer, endorsement, commitment or recommendation of any kind on behalf of LuxSE to invest in any financial instrument. Neither does the publication of the Information by LuxSE represent or constitute any warranty or representation from LuxSE in connection with the good standing, profitability, suitability or reliability of any financial instrument and/ or of any issuer. Information should and shall not be regarded as legal accounting, investment, financial or other professional advice nor is it intended for such use.
Issuers specifically apply to have their financial instruments admitted to any of the Professional Segments. Access by Members to any of the trading group(s) under the relevant Professional Segment is on demand only. LuxSE does not verify and is not responsible for verifying whether clients/investors are qualified to operate in the abovementioned Professional Segments. Members shall, under their full responsibility and control, verify and ensure that orders involving instruments traded on any of the Professional Segments do not come from clients other than Professional Clients or Qualified/Well-informed Investors. Further information on the Professional Segments is available on LuxSE Trading Manual and in the R&R. The information, data and prices (if any) displayed on this page (collectively the “Information”) are made available for general information purposes. LuxSE does not give any representation or warranty and disclaims any liability or responsibility of any kind in connection with the accuracy, correctness, timeliness, fitness for a particular purpose, reliability or completeness of the Information. LuxSE does not accept any liability or responsibility of any kind for any loss or damages arising directly or indirectly from the use of or any action refrained or taken on any Information. The Information does not constitute and is not construed as any advice, solicitation, offer, endorsement, commitment or recommendation of any kind on behalf of LuxSE to invest in any financial instrument. Neither does the publication of the Information by LuxSE represent or constitute any warranty or representation from LuxSE in connection with the good standing, profitability, suitability or reliability of any financial instrument and/ or of any issuer. Information should and shall not be regarded as legal accounting, investment, financial or other professional advice nor is it intended for such use.
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