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Compare Markets

Compare different listing options and market segments available on MERJ Exchange.

Entry Requirements

RequirementVCAP BoardSME BoardMain Board
DomicileRecognized JurisdictionsAnyAny
AdmissionListing Particulars or Prospectus to FSAListing Particulars or Prospectus to FSAListing Particulars or Prospectus to FSA
DurationN/A1 Year3 Years
Financial StatementsN/AMost recent year auditedMost recent 3 years audited
Minimum Free Float*10% (min. 5 persons)15% (min. 20 persons)25% (min. 60 persons)
Lock-in PeriodUntil funding milestones reachedFirst 6 months of listingN/A
Revenue CriteriaN/AN/AN/A
RegulationRegulated by MERJ and FSARegulated by MERJ and FSARegulated by MERJ and FSA

*A derogation from these fixed requirements may be permitted where the issue is anticipated to trade at a rate that allows for sufficient liquidity.

Ongoing Obligations

ObligationVCAP BoardSME BoardMain Board
Corporate GovernanceCorporate Governance Report (Directive on Corporate Governance)Corporate Governance Report (Directive on Corporate Governance)Corporate Governance Report (Directive on Corporate Governance)
TransactionsDirective on Ad Hoc ReportingDirective on Ad Hoc ReportingDirective on Ad Hoc Reporting
Regular ReportingDirective on Regular Reporting ObligationsDirective on Regular Reporting ObligationsDirective on Regular Reporting Obligations

Speed to Market

List in as little as 30 days compared to 6+ months elsewhere.

  • • Listing Committee available 5 days per week
  • • Streamlined application process
  • • Fast-track options available
  • • Dedicated support team

Cost Efficiency

Competitive listing fees and ongoing costs.

  • • Competitive listing and CSD fees
  • • Transparent fee structure
  • • No hidden costs
  • • Value-for-money proposition

Global Reach

Access to international investor base.

  • • 180+ countries permitted
  • • International recognition
  • • Cross-border accessibility
  • • Global trading hours

International Recognition

UK HMRC Recognition

The UK tax authority, His Majesty's Revenue & Customs (HMRC) has designated MERJ Exchange a "Recognised Stock Exchange" under Section 1005 of the Income Tax Act 2007.

This permits UK pensions and SIPPs to trade securities on our Debt Market without incurring tax liability in the UK.

US OTC Markets

MERJ Exchange is a "Qualified Foreign Exchange" by the US OTC Markets (the largest OTC Market in the USA). Non-US companies listed on MERJ qualify for expedited quotation processes.

MERJ-listed issuers only need to meet MERJ Listing Rules requirements without additional US reporting obligations.

Need Help Choosing?

Use our Compare Markets tool to help you decide which market segment is best suited for your company's specific needs and circumstances.

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