CP24/17: Enhancing the National Storage Mechanism

Read CP24/17 (PDF)[1]

Why we are consulting

We want to introduce more comprehensive data requirements to improve the NSM’s functionality. This will make it easier for NSM users to find information submitted by regulated market issuers.

We also propose a requirement for Primary Information Providers (PIPs) to use a standard method for submitting information to the NSM.

Who this is for

• Issuers with securities admitted to trading on UK regulated markets and PIPs that disseminate and file regulated information for them.
• Investors, analysts, and other market participants that use the NSM.
• Persons who have requested the admission of an issuer’s transferable securities to trading on a regulated market, without the issuer’s consent.

Next Steps

Online response form[2]

Please respond to this consultation by Friday 27 September 2024.

Respond using our online form[2] or alternatively email: [email protected]. 

We will consider your feedback and plan to publish our final rules by the end of 2024. We propose that the data transmission requirements for PIPs and the metadata requirements for issuers come into force in the second half of 2025.

Background 

The NSM is our online free-to-use archive of company information and is used by investors, analysts, and other market participants.

Internationally, most jurisdictions have a facility like the NSM. However, current limitations on data quality control and structure mean the metadata sent to the NSM can be inconsistent and incomplete. This can make it difficult for users to find the information they need.

This consultation is part of our broader initiative to improve the NSM’s functionality, which will support other primary market initiatives.