Standard terms and procedure
This article covers Initial Public Offering (IPO) subscription on the EXANTE platform.
An Initial Public Offering (IPO) is a listing of a stock on a given market. At EXANTE, we facilitate subscription to IPOs available through our counterparties. We select the IPOs and proceed to ensure our participation. Once we’ve procured access to a specific IPO, we’ll add a subscription instrument representing participation in the IPO on the EXANTE trading platform.
The instrument will become available on the platform when IPO books open and will deactivate two days prior to books closing. You can send a market buy order to subscribe to an IPO. You’ll be able to increase, decrease or cancel your subscription two days prior to books closing. When the IPO is closed and if you receive an allocation the shares will appear under the instrument in your Account Summary.
Participating in an IPO entails the same risks as stock trading. Profit is not guaranteed and it's the investor's responsibility to do research concerning the offering. The price is set by the book runners and the company. EXANTE does not set the price.
With respect to the fee structure and general terms, this standard procedure applies:
- Successful allocation fee is 3.5%
Note! Apply before the 1st of January and pay a fee of just 2.9% ‒ 17% off!
- The trade fee is 0.02 USD per share for NYSE/NASDAQ, please see the standard commissions for IPOs in other markets
- There are no participation or administration fees
Wish to sell allocated shares? Confirm this action with us via a phone call or email. In this case, no manual order fees apply.
If you are willing to sign up for an IPO, please contact your Account Manager.