diff --git a/src/api/procedures/__tests__/reserveTicker.ts b/src/api/procedures/__tests__/reserveTicker.ts
index f746acf884..e092f1778c 100644
--- a/src/api/procedures/__tests__/reserveTicker.ts
+++ b/src/api/procedures/__tests__/reserveTicker.ts
@@ -173,47 +173,48 @@ describe('reserveTicker procedure', () => {
     );
   });
 
-  test('should throw an error if extendPeriod property is set to true and the token has already been launched', async () => {
-    const expiryDate = null;
+  test('should throw an error if extendPeriod property is set to true and the ticker has not reserved or the reservation has expired', async () => {
+    const expiryDate = new Date(2019, 1, 1);
     mockTickerReservation.mock('details', {
       ownerDid: 'someDid',
       expiryDate,
+      status: TickerReservationStatus.Free,
     });
     const proc = mockProcedure.getMockInstance();
     proc.context = mockContext;
 
     return expect(prepareReserveTicker.call(proc, { ...args, extendPeriod: true })).rejects.toThrow(
-      'Ticker has already been launched'
+      'Ticker not reserved or the reservation has expired'
     );
   });
 
-  test('should throw an error if extendPeriod property is set to true and the ticker has not reserved or the reservation has expired', async () => {
-    const expiryDate = new Date(2019, 1, 1);
+  test("should throw an error if extendPeriod property is set to true and the signing account doesn't have enough balance", () => {
+    const expiryDate = new Date(new Date().getTime() + 1000);
     mockTickerReservation.mock('details', {
       ownerDid: 'someDid',
       expiryDate,
-      status: TickerReservationStatus.Free,
     });
+    mockFactory.createQueryStub('asset', 'tickerRegistrationFee', createMockBalance(600000000));
     const proc = mockProcedure.getMockInstance();
     proc.context = mockContext;
 
     return expect(prepareReserveTicker.call(proc, { ...args, extendPeriod: true })).rejects.toThrow(
-      'Ticker not reserved or the reservation has expired'
+      'Not enough POLY balance to pay for ticker period extension'
     );
   });
 
-  test("should throw an error if extendPeriod property is set to true and the signing account doesn't have enough balance", () => {
+  test('should throw an error if extendPeriod property is set to true and the signing account is not the ticker owner', () => {
     const expiryDate = new Date(new Date().getTime() + 1000);
     mockTickerReservation.mock('details', {
-      ownerDid: 'someDid',
+      ownerDid: 'anotherDid',
       expiryDate,
+      status: TickerReservationStatus.Reserved,
     });
-    mockFactory.createQueryStub('asset', 'tickerRegistrationFee', createMockBalance(600000000));
     const proc = mockProcedure.getMockInstance();
     proc.context = mockContext;
 
     return expect(prepareReserveTicker.call(proc, { ...args, extendPeriod: true })).rejects.toThrow(
-      'Not enough POLY balance to pay for ticker period extension'
+      'You must be the owner of the ticker to extend its registration period'
     );
   });
 
diff --git a/src/api/procedures/reserveTicker.ts b/src/api/procedures/reserveTicker.ts
index dc6f548c02..bea1f4d28c 100644
--- a/src/api/procedures/reserveTicker.ts
+++ b/src/api/procedures/reserveTicker.ts
@@ -50,7 +50,7 @@ export async function prepareReserveTicker(
     rawFee,
     balance,
     { max_ticker_length: rawMaxTickerLength },
-    { expiryDate, status },
+    { ownerDid, expiryDate, status },
   ] = await Promise.all([
     query.asset.tickerRegistrationFee(),
     context.accountBalance(),
@@ -58,15 +58,15 @@ export async function prepareReserveTicker(
     reservation.details(),
   ]);
 
-  if (!extendPeriod) {
-    if (status === TickerReservationStatus.TokenCreated) {
-      throw new PolymeshError({
-        code: ErrorCode.ValidationError,
-        message: `A Security Token with ticker "${ticker} already exists`,
-      });
-    }
+  if (status === TickerReservationStatus.TokenCreated) {
+    throw new PolymeshError({
+      code: ErrorCode.ValidationError,
+      message: `A Security Token with ticker "${ticker} already exists`,
+    });
+  }
 
-    if (status === TickerReservationStatus.Reserved) {
+  if (status === TickerReservationStatus.Reserved) {
+    if (!extendPeriod) {
       const isPermanent = expiryDate === null;
 
       throw new PolymeshError({
@@ -75,8 +75,15 @@ export async function prepareReserveTicker(
           !isPermanent ? '' : 'not '
         }expire${!isPermanent ? ` at ${expiryDate}` : ''}`,
       });
+    } else if (ownerDid !== context.currentIdentity?.did) {
+      throw new PolymeshError({
+        code: ErrorCode.ValidationError,
+        message: 'You must be the owner of the ticker to extend its registration period',
+      });
     }
+  }
 
+  if (!extendPeriod) {
     const maxTickerLength = rawMaxTickerLength.toNumber();
 
     if (ticker.length > maxTickerLength) {
@@ -86,13 +93,6 @@ export async function prepareReserveTicker(
       });
     }
   } else {
-    if (expiryDate === null) {
-      throw new PolymeshError({
-        code: ErrorCode.ValidationError,
-        message: 'Ticker has already been launched',
-      });
-    }
-
     if (status === TickerReservationStatus.Free) {
       throw new PolymeshError({
         code: ErrorCode.ValidationError,
diff --git a/src/testUtils/mocks/PolkadotMockFactory.ts b/src/testUtils/mocks/PolkadotMockFactory.ts
index a4b6448e72..121fa16054 100644
--- a/src/testUtils/mocks/PolkadotMockFactory.ts
+++ b/src/testUtils/mocks/PolkadotMockFactory.ts
@@ -223,7 +223,7 @@ export class PolkadotMockFactory {
    */
   private initContext(opts: ContextOptions): void {
     const currentIdentity = opts.withSeed
-      ? { getIdentityBalance: sinon.stub().resolves(opts.balance) }
+      ? { getIdentityBalance: sinon.stub().resolves(opts.balance), did: 'someDid' }
       : undefined;
     const currentPair = opts.withSeed
       ? ({