Services and Fees
Unlisted is a prescribed exempt financial product market.
At the Unlisted Securities Exchange (USX) Issuers can choose to become either a:
- Standard Issuer (SI),
- Temporary Quotation Issuer (TQ), or
- Private Market Issuer (PM).
Issuers can also have other classes of securities quoted, either on an ongoing or temporary basis.
A Standard Issuer quotation means the Issuer becomes publicly quoted and traded on the USX facility on an ongoing basis, until the Issuer or USX terminates that quotation for any reason. A Standard Issuer quotation suits companies that wish to provide their shareholders with an ongoing price discovery and trading mechanism to deliver liquidity and transparency around their securities trading. For full details about a Standard Issuer Quotation download the Introducing USX Information Sheet.
A Temporary Quotation means the Issuer becomes publicly quoted and traded on USX for a pre-determined and finite period, for example a 90-day quotation following distribution of a company's year-end accounts. This can provide a periodic trading window for shareholders of companies that are not yet certain an ongoing quotation is necessary or affordable. For full details about a Temporary Quotation download the Temporary Quotation Information Sheet.
A Private Market quotation means USX will provide an arms-length trading facility intermediated by participating brokers that is private to existing shareholders and people otherwise authorised by the Issuer. A Private Market quotation might suit a company that wants to provide a liquid and transparent trading mechanism to a growing shareholder base of family and employees, but is not yet comfortable with a public quotation. For full details about a Private Market quotation download the Private Market Information Sheet.
An Issuer that wishes to have another class of securities quoted, for example Class A and B shares, Transactor and Investor shares or redeemable rights, can also have these quoted on an ongoing or temporary basis to suit their needs.
Corporate Actions
Under the Market Rules Issuers are required to post all Corporate Actions on the announcements platform as soon as available.
Corporate actions, both when approved and when actioned (i.e any corporate event affecting the number, value or terms of Quoted securities), including without limitation dividends, interest, buybacks for cancellation or treasury stock, sales of treasury stock, issue of securities, consolidations, cancellations, splits, rights or options should be announced using the Corporate Actions form. Click here for the form.
Issuer Fees
USX annual fees for quotation are invoiced and payable quarterly.
For Standard Issuers:
Issuer Market Capitalisation |
Annual Fee (+GST) |
Quarterly Fee (+GST) |
|
$100 million and over |
$26,250.00 |
$6,562.50 |
|
$50 million to $99.99 million |
$21,000.00 |
$5,250.00 |
|
$30 million to $49.99 million |
$17,850.00 |
$4,462.50 |
|
$15 million to $29.99 million |
$13,650.00 |
$3,412.50 |
|
$5 million to $14.99 million |
$11,550.00 |
$2,887.50 |
|
$2 million to $4.99 million |
$8,400.00 |
$2,100.00 |
|
Under $2 million |
$4,200.00 |
$1,050.00 |
For Temporary Quotation Issuers:
Issuer Market Capitalisation |
Quarterly Fee (+GST) |
|
$100 million and over |
$8,728.13 |
|
$50 million to $99.99 million |
$6,982.50 |
|
$30 million to $49.99 million |
$5,935.13 |
|
$15 million to $29.99 million |
$4,538.63 |
|
$5 million to $14.99 million |
$3,840.38 |
|
$2 million to $4.99 million |
$2,793.00 |
|
Under $2 million |
$1,396.50 |
If a TQ Issuer remains with the facility for 12 consecutive months, USX will rebate its TQ fees to the equivalent Standard Issuer fee.
For Private Market Issuers:
Issuer Market Capitalisation |
Annual Fee (+GST) |
Quarterly Fee (+GST) |
|
$100 million and over |
$28,875.00 |
$7,218.75 |
|
$50 million to $99.99 million |
$23,625.00 |
$5,906.25 |
|
$30 million to $49.99 million |
$20,475.00 |
$5,118.75 |
|
$15 million to $29.99 million |
$16,275.00 |
$4,068.75 |
|
$5 million to $14.99 million |
$14,175.00 |
$3,543.75 |
|
$2 million to $4.99 million |
$11,025.00 |
$2,756.25 |
|
Under $2 million |
$6,825.00 |
$1,706.25 |
For Second Security Issuers:
$1,500 + GST per annum for any second security quoted on an ongoing basis
$1,200 + GST for any second security quoted on a short-term temporary basis, for example rights issues for existing Issuers
$1,200 + GST for any second security quoted on a short-term temporary basis, for example rights issues for existing Issuers
Where an issuer has more than one security quoted on an ongoing basis, the security with the highest apparent market value will be regarded as its primary security for the purposes of setting annual fees.
Application deposit
Any Issuer that is planning to raise capital and applying for quotation prior to such capital raise may be required to provide an application deposit. This deposit will be applied against the quotation fee if the Issuer is accepted for quotation and lists on USX. In the event that the application is declined or the Issuer withdraws its application prior to acceptance the deposit will be refunded. If the Issuer is accepted for quotation, but does not list on USX the deposit is non-refundable.
Trading fees
USX charges a broker trade fee of $7.50 plus GST per side of each trade (buy and sell). Reported trades and trades crossed by the same broker are charged a trade fee of $7.50 plus GST. Brokers have the option of paying a fixed annual fee of $5,000 plus GST, payable quarterly in advance, to have trade fees waived. In the event of a stand in the market brokers can arrange for a separate security code to be established for a fee of $750.00 plus GST, and no trade fees would apply to transactions under that security code. Broker trade fees will be invoiced quarterly in arrears.