ETASSUM43240 - Schedule 4 Company Share Option Plan (CSOP): Shares to be used: Recognised Stock Exchange (RSE)
A recognised stock exchange is defined at s1005 ITA07.
- Within the UK, a recognised stock exchange is any market of a recognised investment exchange which has been designated as a recognised stock exchange by a commissioner of HMRC (s1005(1)(a) ITA07).
- Outside of the UK recognised stock exchange is any market that has been so designated (s1005(1)(b) ITA07).
Further information and a list of stock exchanges that have been recognised by order made by the Commissioners for HMRC can be found at https://www.gov.uk/guidance/recognised-stock-exchanges
The list of recognised stock exchanges has since 1970 included any exchange registered with the Securities and Exchange Commission (SEC) of the United States as a national securities exchange. This definition includes the New York Stock Exchange (NYSE) and NASDAQ Stock Market.
Shares on the AIM (the Alternative Investment Market which came into being in July 1995) do not satisfy the requirements of paragraph 17(a). Although these markets are part of the Stock Exchange, they are not “listed” on it, i.e. included on the Official List.