Catalyst Authorisation

Authorisation of bonds on Catalyst means that issuers accept reporting requirements set out in the Rules and the issue is registered in the Catalyst information system.

Issuers whose issues have not yet been dematerialised may also apply for issue authorisation. Catalyst authorisation opens the public market also to those issuers whose bonds have already been issued and are wholly or party held by bond-holders.

Catalyst authorisation tells the investors and partners of a local government or corporate issuer that the issuer is a public company, transparent and accountable to the market and business environment, as demonstrated by compliance with the Catalyst reporting requirements, which are identical as those applicable to issuers of instruments introduced to trading.

If an issuer is in breach of Catalyst regulations, for instance due to non-compliance with the reporting requirements, the issuer’s authorisation may be revoked and its bonds may be delisted.