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Registration (5BDs)
Documentation
On behalf of the Issuer, the Sponsor files relevant documents for assessment by FMDQ Exchange in line with the FMDQ Exchange Commercial Paper Registration and Quotation Rules. The timeframe for completion of this process is dependent on the timeliness and quality of the Sponsor’s response.
Analysis
The Exchange conducts an assessment of the Issuer and CP Programme based on set eligibility, suitability, sustainability, sufficient disclosure criteria, compliance with the Rules of the Exchange and any other relevant regulatory framework applicable to the Issuer.
Decision
The Exchange notifies the Sponsor of application decision.
Pre-Issuance (1BD)
Notification
Sponsor notifies FMDQ Exchange of the Discreet Issue/CPs sought to be issued under the Programme no later than twenty-four (24) hours prior to the opening of the offer.
Such notification shall include the following details: Amount on offer, minimum level of subscription (if applicable), offer open/close dates and Issue Date.
Quotation (3BDs)
Documentation
On behalf of the Issuer, the Sponsor files relevant documents for assessment by FMDQ Exchange in line with the FMDQ Exchange Commercial Paper Registration and Quotation Rules. The timeframe for completion of this process is dependent on the timeliness and quality of the Sponsor’s response.
Analysis
The Exchange conducts an assessment of the Issuer and CP Programme based on set eligibility, suitability, sustainability, sufficient disclosure criteria, compliance with the Rules of the Exchange and any other relevant regulatory framework applicable to the Issuer.
Decision
The Exchange notifies the Sponsor of application decision.
Admission
The CP is admitted to the FMDQ Exchange Daily Quotations List and the FMDQ Exchange’s website.