These are verified by the BSE on the basis of the documents in the application submitted to the Exchange.

  1. the security to be listed shall be negotiable;
  2. the issuer shall accept the Exchange Rules as binding upon itself and shall accept and comply with the terms set forth in of  KELER Rules;
  3. the issuer shall accept depository receipts issued by KELER Zrt. in its capacity of a depository or with reference thereto as a certificate of title to the issuer’s securities;
  4. the issuer shall undertake the commitment that in the event securities incorporating identical rights with securities on the Trading List are issued as part of capital increase or a tap issue, it shall initiate, in line with the provisions of the Regulations on Listing, the listing of the new security within that series;
  5. an exchange prospectus prepared for the listing on the exchange shall be made available, supplied with the approval of the appropriate authority;
  6. the company shall operate as a public limited company or at least the respective decision (general meeting resolution)about the listing must have been made;
  7. if an investment firm is involved in the listing, the applicant and the investment firm shall submit a joint declaration, stating that during the listing procedure, the investment firm is acting on behalf of the applicant;
  8. the company shall obtain a statement by KELER Ltd. specifying that the security is accepted for account keeping and recording, as well as for settlement with the exchange;
  9. circle of owners;
  10. name and address of the share registrar of the issuer.

A precondition for starting trading is that the company shall publish, - at the official site for publications of the Exchange –at

  • the prospectus prepared for the listing on the exchange;
  • the statutes of the company;
  • information on the language approved by the MNB (English or Hungarian) for the fulfilment of reporting obligations during the period of continued trading of the company’s securities;
  • the ownership structure;
  • the name and address of the Registrar of Shares.

Listing of equity series takes place on Prime, Standard or T Markets. For listing on the T Market, in addition to the above general requirements – which are basically requirements of the law –, the Exchange does not impose further conditions. On the Standard Market, in addition to the basic requirements of the law, BSE prescribes a public transaction to be carried out, with regard to the equity series to be listed. In case admission is sought to the Prime Market, the company and the series of securities to be listed shall comply with certain further requirements (size of the series, free float, completed business years, etc.). A public transaction (involving the securities series to be listed) is mandatory on the Prime Market as well; however, in this category, issuers may request a one-year postponement to fulfill this obligation. The requirements on the different Markets are summarised in the table below:


Equities Prime Market

Equities Standard Market

Equities T Market

Series of shares to be listed

At least 5 billion forints at market value

No requirements

No requirements

Free float

- at least 25 percent of the series to be listed is free float;


- at market prices, shares to the value of at least two billion forints are free float; or

- the series of shares is, at the time of listing, in the possession of at least 500 owners.

No requirements

No requirements

Equity class

Only common shares may be admitted

No requirements

No requirements

Corporate Governance Riport

Mandatory to disclose at listing (also afterwards annualy - together with the annual report)

No obligation to disclose at listing (only after listing with each annual report)

No obligation to disclose at listing (only after listing with each annual report)

Business years

Three full, completed, audited years

No requirements

No requirements

The method of listing

Public transaction (one-year grace period)

Public transaction

No public transaction requirement (technical listing)

In order to facilitate the administration of the listing procedure, the Exchange prepared standardised data sheets are available for download from the following site: Application for listing

The detailed system of the listing requirements is included in the Regulations on Listing.

Further information: Fact Sheet on listing