Unlisted is a prescribed exempt financial product market.
The Unlisted Securities Exchange (USX) is a financial product market operating under an exemption from subpart 7 of Part 5 of the Financial Markets Conduct Act 2013 (“the Act”) and certain conditions specified in the Exemption Notice. Investors trading in securities quoted on USX trade at their own risk and do not have the protections provided by Part 5 of the Act, in relation to: insider trading, market manipulation, continuous disclosure, substantial holding disclosure, relevant interest disclosures, and the monitoring of market obligations by the FMA.
USX provides a facility for trading previously allotted securities. USX has its own Market Rules and monitors compliance by Issuers with those Rules.
Trading in securities quoted on USX can only be undertaken via Brokers.
Before an investor may trade (via a broker) in securities quoted on USX, the investor's broker will require the investor to sign the USX Information and Disclaimer form, which provides a fuller explanation about USX's status and what this means for investors.