Offering support
Help issuers structure offerings and underwrite or distribute securities.
MARKET PARTICIPANTS
Underwriter
Connecting quality issuers with investors
Underwriters are important participants in the IDSX market. They support securities offerings, distribution and investor engagement, helping each offering proceed in an orderly, transparent and efficient way.
What is an Underwriter?
An Underwriter is an organization recognized by IDSX to participate in securities offerings and distribution. Through market expertise, distribution networks and investor relationships, Underwriters help issuers complete offerings and bring investment opportunities to the market.
Investor engagement
Present offerings to eligible investors and broaden the investor base.
Pricing and allocation
Support price discovery, bookbuilding and allocation.
Market support
Provide appropriate post-offering support to help build liquidity and market interest.
Key Underwriter standards
Underwriters must follow IDSX rules and applicable laws while acting professionally, carefully and with integrity.
Compliance
Follow applicable laws, IDSX rules and regulatory requirements.
Fair dealing
Keep offerings fair and transparent and manage conflicts of interest.
Clear disclosure
Give investors accurate, complete and non-misleading information.
Investor suitability
Market and sell securities only to eligible investors.
Record keeping
Keep complete records of offering, sales and support activities.
Eligibility criteria
An organization seeking IDSX Underwriter status should meet these baseline criteria:
- Be a duly constituted entity with a sound business reputation
- Have relevant securities, distribution or capital markets experience
- Employ an adequate number of appropriately experienced professionals
- Maintain effective compliance, risk management and internal controls
- Have the financial and operational capacity to conduct underwriting
- Meet Fit and Proper requirements for senior and relevant personnel
- Maintain investor identification, classification and suitability processes
- Hold licenses required in the relevant jurisdiction for regulated activities
- Agree to comply with IDSX rules and ongoing supervision
Application process
Applications typically follow these steps:
- 1
Review the criteria
Read the Underwriter rules, eligibility criteria and submission guide.
- 2
Submit an application
Complete the application and provide supporting information.
- 3
Qualification review
IDSX reviews credentials, personnel, controls and operating capacity.
- 4
Interview / follow-up
IDSX may request further information or meet responsible officers.
- 5
Approval
Successful applicants receive IDSX Underwriter status.
- 6
Participate in the market
Complete onboarding and participate in securities offerings.
Related information
View all →Frequently asked questions
View all →How does an Underwriter differ from a Sponsor?
Underwriters focus on offering, pricing and distribution. Sponsors support listing applications and ongoing issuer obligations.
Are licenses required?
Applicants must meet licensing or registration requirements that apply to their activities and jurisdictions.
Is there an application fee?
Fees are subject to the schedule published by IDSX.
How long does review take?
Timing depends on application completeness and the scope of review.
Can one organization act as both Sponsor and Underwriter?
A firm may perform multiple roles if permitted, while meeting applicable rules and managing conflicts.
Ready to apply as a IDSX Underwriter?
Building a more active capital market