Membership and Trading

We offer members an efficient and transparent market for trading EWSM securities.  


Who can join

  • an investment firm authorised under the Markets in Financial Instruments Directive (MiFID) (2004/39/EC)
  • an entity that meets requirements for membership under rule 3.3 (c) of the Bye-Laws of the EWSM
  • a credit institution authorised under the Banking Consolidation Directive (Directive 2013/36/EU and Regulation (EU) No 575/2013)

How to join

Complete an application form for trading membership

Liaise with the Malta Stock Exchange (MSE) in relation to connectivity to MSE Xetra® trading platform.

Submit the application form to

The MSE assesses your application on behalf of the EWSM and notifies you of its decision.


Bye-Laws of the EWSM 

Code of Conduct of EWSM 

Bye-Laws of the Market Operator, the MSE – refer to Chapter 3 and 4

Membership fees

€4,000 per annum

Trading infrastructure

Our trading and post-trading infrastructure is operated by the MSE on behalf of the EWSM.  


Trading takes place on MSE Xetra®, an electronic trading platform operated in partnership with Deutsche Börse. This enables our members to trade on a world-class, easily accessible and cost effective trading system.

Clearing and Settlement 

Clearing and settlement services for on–exchange transactions are offered through:

  • MaltaClear, the domestic clearing and settlement system operated by the MSE
  • an inter-operable link with Clearstream Frankfurt
  • arrangements agreed in advance between the MSE and the trading member.

Trade reporting

Trades executed on the MSE Xetra® trading platform are automatically reported to the market in accordance with MiFID.

Off-exchange or OTC transactions are not required to be reported to the EWSM but market participants can opt to report trades if they register beforehand with the market operator of the EWSM, the MSE.

View trades reported to the EWSM.

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