Listing Procedure ETF

Please find below the material required to prepare an ETF Listing Update Form application on the Euronext Cash Markets.

Should you have any queries, please do not hesitate to contact the Corporate Actions team on ETPEurope.Listing@euronext.com or +33 (0)1 85 14 85 94.

Please note that for the listing of an ETF to take effect, all of the material below must be submitted to Euronext. Original signatures are required for all forms.

• ETF Listing Update Form duly completed with the relevant information and submitted to Euronext (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 a Liquidity Provider (5).

For more details of specific documents, please click on the relevant link in the list below.

1. ETF Listing Update Form

The ETF Listing Update Form must be submitted by the Issuer to ensure that Euronext has all the necessary data and information regarding the listing in its database. The fields highlighted in green should be filled in by the Issuer, who must then send the completed file to ETPEurope.Listing@euronext.com.

As from 1 June 2013, for the first ETF admission, Euronext requires one original copy of the ETF Listing Update Form, signed by the Issuer’s representative. For the next admissions, the ETF Listing Update Form should be sent as signed PDF to ETPEurope.Listing@euronext.com.

Euronext
Corporate Actions Team
14, place des Reflets
92054
Paris La Défense Cedex France

Please click here to access:
- the ETF Listing Form
- the ETF Listing Form Guidelines

2. Portfolio Composition File (PCF)

Issuers are required to provide NYSE 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.

Please click here to access the PCF description.

3. iNAV

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.

4. Inclusion Agreement

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
Corporate Actions Team
14, place des Reflets
92054
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

Euronext rules require that at least one signed Liquidity Provision Agreement must exist between the Relevant Euronext Market Undertaking and a Liquidity Provider. This document should be sent to ETPEurope.Listing@euronext.com.