Global investment terminology
fix(investments): correct Spain SOCIMI listing venue to Portfolio Stock Exchange (PSE), operator-confirmed — was BME Growth/Bolsa de Madrid
@@ -59,7 +59,7 @@ The following table sets out the jurisdiction-specific terms and their Global Br **Regulatory Filing Portal.** Each Direct-Hold Solution files its mandatory disclosure through the portal of its sovereign jurisdiction: [[about-filing-systems|SEDAR+]] in Canada, EDGAR in the United States, the CNMV's Sede Electrónica in Spain, and STIV-2 administered by the CNBV in Mexico. The Global Bridge Term Regulatory Filing Portal refers to any of these systems interchangeably when describing the disclosure obligation at a cross-border level. **Public Non-Traded.** The Direct-Hold Solutions are not listed on public exchanges. Their Investment Units are available for private transactions, institutional transfers, and estate arrangements, but do not trade on the Toronto Stock Exchange, the New York Stock Exchange, the Bolsa de Madrid, or the Bolsa Mexicana de Valores. The Spain SOCIMI vehicle requires statutory listing on the Bolsa de Madrid for tax-exempt status under Spanish law; in that jurisdiction, the Cotizada designation carries mandatory legal consequences that do not apply in Canada, the United States, or Mexico. **Public Non-Traded.** The Direct-Hold Solutions are not listed on public exchanges. Their Investment Units are available for private transactions, institutional transfers, and estate arrangements, but do not trade on the Toronto Stock Exchange, the New York Stock Exchange, the Bolsa de Madrid, or the Bolsa Mexicana de Valores. The Spain SOCIMI vehicle requires a statutory technical listing on the Portfolio Stock Exchange (PSE) for tax-exempt status under Spanish law; in that jurisdiction, the Cotizada designation carries mandatory legal consequences that do not apply in Canada, the United States, or Mexico. **Exchange-Qualified Debt.** First Secured Mortgage Debentures issued by the Direct-Hold Solutions are intended to be exchange-qualified, providing a publicly available reference price for institutional counterparties. Exchange qualification of the debt does not extend to exchange trading of the equity units.