The procedure for issuing option certificates and their circulation has been approved

At its meeting on September 9, 2021, the NSSMC (National Securities and Stock Market Commission) approved the Regulation on the procedure for issuing option certificates and their circulation.

Thus, the concept of “option certificate” is defined and it is established that the registration of the issue and approval of the prospectus of option certificates is established by the NSSMC.

In particular, the document stipulates:
• the procedure for issuing, circulation of option certificates,
• registration of the issue of option certificates,
• registration of the issue and approval of the prospectus of option certificates,
• approval of amendments and/or additions to the prospectus of option certificates,
• approval of amendments to the Resolution on issue of option certificates,
• registration of the report on results of issue of option certificates in NSSMC,
• submission to the registration body of the report on the results of redemption and cancellation of registration of the issue of option certificates.

“This is the first financial instrument from derivative securities, which was developed under the new rules of current legislation. The priority task for the NSSMC is the development of financial instruments in the capital markets and we are actively working on this together with our colleagues”, – Maxim Libanov, the Commissioner, said.

The Regulation was developed in accordance with the Law of Ukraine “On State Regulation of Capital Markets and Organized Commodity Markets” in order to bring the NSSMC’s legal acts in line with the requirements of the Law of Ukraine of 19.06.2020 №738-IX “On Amendments to Certain Legislative Acts of Ukraine simplification of investment attraction and introduction of new financial instruments”.

In the near future, the document will be sent for state registration to the Ministry of Justice of Ukraine.