Market infrastructure - Ireland
Institutions and organisations
Stock Exchange (www.ise.ie, www.euronext.com)
On 27 March 2018, Euronext completed its acquisition of the Irish Stock Exchange (ISE) and the ISE operates under the trading name Euronext Dublin. Euronext Dublin serves as the groups centre of excellence for Debt, Funds and ETF listings.
The Irish Stock Exchange plc is authorised by the Central Bank of Ireland to operate its four securities markets – Euronext Dublin, Euronext Growth, the Global Exchange Market (GEM) and the Atlantic Securities Market (ASM).
The ISE plays a number of roles:
- They admit securities to listing in Ireland.
- They are the national numbering agency. They provide International Security Identification Numbers (ISIN), Financial Instrument Short Name (FISN) and Classification of Financial Instrument (CFI) codes for securities domiciled in Ireland.
- They are authorised by the Central Bank of Ireland to operate four securities markets – Euronext Dublin (regulated market), Euronext Growth (MTF), Global Exchange Market (MTF) and Atlantic Securities Market (MTF).
- Act as Legal Operating Unit (LOU) in Ireland: The ISE are accredited by the Global Legal Entity Identifier Foundation (GLEIF) to issue LEI (Legal Entity Identifiers) - a global reference code which uniquely identifies each legal entity that engages in a financial transaction.
The London Stock Exchange (LSE)
London Stock Exchange is a stock exchange in the City of London, England and part of London Stock Exchange Group (LSEG). LSE maintains an electronic order book known as the Stock Exchange Trading Service (SETS). Shares of Irish companies can be listed in the LSE.
CSDs and clearing agencies
- Euroclear Bank ( www.euroclear.com)
On 15 March 2021, Euroclear Bank took over the settlement of Irish government bonds from the Central Bank of Ireland and became the CSD for Irish government bonds. - CCP- EUROCCP (http://euroccp.com)
European Central Counterparty N.V. (EuroCCP) is the CCP for Euronext Dublin. EuroCCP also clears trades concluded in the LSE. EuroCCP clears equities from 18 European markets and from the U.S.
Irish corporate securities migrated to Euroclear Bank, traded on Euronext Dublin and cleared by EuroCCP settle in Euroclear Bank.
Irish corporate securities migrated to Euroclear Bank, traded on the LSE and cleared by EuroCCP settle in EUI as a Crest depository interest (CDI). - The London Clearing House Limited (LCH) (www.lch.com).
LCH acts as the central counterparty for trades on Irish corporate securities executed in the LSE or Euronext Dublin. Irish corporate securities migrated to Euroclear Bank, traded on London Stock Exchange and cleared by LCH settle in EUI as a Crest depository interest (CDI). Irish corporate securities migrated to Euroclear Bank, traded on Euronext Dublin and cleared by LCH settle in Euroclear Bank.
Central Bank (www.centralbank.ie)
The Central Bank of Ireland (CBI) is the regulator for both central banking and financial regulation. Their strategic responsibilities are to:
- contribute to Euro-system effectiveness and price stability
- contribute to financial stability
- ensure proper and effective regulation of financial institutions and markets
- ensure efficient financial services infrastructure to the economy: payment and currency
- maximise operational efficiency and cost effectiveness.
National Bank of Belgium
As the supervisor of Euroclear Bank, the NBB liaises with the Central Bank of Ireland in relation to the oversight of Euroclear Bank’s passported services for Irish corporate securities, in accordance with the provisions in CSDR.