A. Listing requirements

1. Requirements applying to the issuer

Art. 4
Duration, capital resources and annual financial statements

¹ Art. 11 LR (Duration) and Art. 15 LR (Capital resources) do not apply if the outstanding amount of the ETPs is collateralised exclusively in accordance with point 1 of Art. 14 para. 1 or if, instead of the issuer, a third party that fulfils those requirements (guarantor) provides a guarantee commitment in respect of the obligations associated with the ETPs.

² Where, according to para. 1 Art. 11 LR (Duration) is not applicable, the issuer must only have produced the available annual financial statements pursuant to the accounting standard that applies to it.

See also:

• Directive Guarantee Commitments (DGC)

• Directive Financial Reporting (DFR)

Art. 5
Place of jurisdiction

¹ Investors must be able to take their case before a state court to assert their rights against those involved in the structure of the ETP (e.g. the issuer, the custodian of the collateral).

² In choosing the place of jurisdiction, the issuer must ensure, as at least one alternative, that the courts in the country whose legal system is applicable to the terms of the issue in question are competent to hear such cases.