Eligibility criteria for co-lead mandates for syndicated transactions
Article 9
Members of the primary dealer network are eligible to serve as co-lead managers for syndicated transactions, subject to the fulfilment of the following criteria: (a) having agreed, as part of the GTC, with the general terms and conditions for co-lead mandates for syndicated transactions and with the fee schedule; (b) having complied with the minimum requirements of the quoting arrangements during the observation period; and (c) not having been awarded the lead mandate during the observation period. The minimum requirements referred to in the first paragraph, point (b) and the observation period referred to in first paragraph, points (b) and (c), as well as other detailed rules for co-lead mandates shall be based on best market practices including those of peer issuers and shall reflect the balance of benefits and obligations for the members of the primary dealer network.