The main local legal act regulating the procedures for admission to trading on the exchange are the BCSE Listing Rules.

The following types of securities may be admitted to trading on BCSE:

• shares of legal entities of the Republic of Belarus
• bonds of legal entities of the Republic of Belarus
• government bonds of the Republic of Belarus
• bonds of the National Bank of the Republic of Belarus
• bonds of local executive and administrative bodies of the Republic of Belarus
• exchange-traded bonds
• depositary bonds of legal entities of the Republic of Belarus
• structured bonds of legal entities of the Republic of Belarus
• strip bonds
• strips
• investment units
• securities registered outside the Republic of Belarus

The admission of securities can be initiated by their issuer, trading participant or, in some cases, BCSE.

The admission procedure assumes two implementation options for the initiator:

• listing procedure (assessing the quality and reliability of securities with their subsequent inclusion into the quotation list);
• admitting securities to trading on BCSE as unlisted securities.

Listing of securities is based on the principles of securities classification traded on the stock exchange according to their liquidity, investment quality and reliability criterion.

At the first stage, the admission initiator shall decide on the level of admission of securities to trading on BCSE.

There are the following listing levels on BCSE:

International Quotation List;

National Quotation List;

Basic Quotation List.

Note: Securities admitted to trading as unlisted securities are not subject to quality and reliability assessment (listing). They are subject only to the BCSE basic requirements.

The structure and requirements for the stock exchange listing of securities at BCSE are presented in the table. 

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