Legal status

Burgundy has regulatory approval from the Swedish Financial Supervisory Authority to operate a regulated market and an MTF (Multilateral Trading Facility).
On the regulated market, financial instruments are admitted to trading upon application by the issuer of the instrument. The types of instruments that can be admitted to trading on the regulated market are warrants, certificates, ETFs and structured products.
On the MTF, financial instruments that are primarily listed on other regulated markets or MTFs are admitted to trading. These financial instruments are not admitted to trading on the MTF upon application by the issuer and hence, Burgundy only offers a trading service in these financial instruments on the MTF.
Requirements for becoming an issuer of instruments on the regulated market and the requirements for listing of financial instruments on the regulated market upon application by the issuer are to be found in Burgundy’s Issuer and Product Rules.
Requirements for becoming a trading participant at Burgundy and the trading rules for trading in financial instruments admitted to trading on the regulated market and the MTF are to be found in the Burgundy Rulebook (trading rules).
The legal requirements on regulated markets and the financial instrument admitted to trading on the regulated market are more detailed than the requirements on MTFs. In general the risk in an instrument listed on a MTF may be higher than an investment in an instrument listed on a regulated market. However, the marketplace operator of an MTF may impose higher requirements on the MTF and the financial instruments admitted to trading than required by law.