China In Italy

 

Since 1998 there has been the privatization of Borsa Italiana spa (Italian Stock Exchange) and since then it deals with supervision, management and functioning of financial markets.

 

 

The main task of Italian Stock Exchange is to develop markets and maximize liquid assets, transparency, competitiveness and efficiency.

 

 

The main responsibilities of Italian Stock Exchange are:

-      to hold in check the correct performing of negotiations

-      to determine the requirements and the procedures of admittance and of staying in the markets for companies issuing securities

-      to determine the requirements and procedures of admission of intermediaries

-      to manage the reports of companies listed at the stock exchange

 

 

Italian Stock Exchange sets up and manages the Italian stock market by national and international intermediaries (about 130) which operate using an electronic negotiation system for the exchange in real time.

 

 

Consob (National Commission for Companies and Stock Exchange) and Banca d’Italia (Italian National Bank) perform control of activities of Italian Stock Exchange, while, Borsa Italiana spa performs regulation and management of markets.

 

 

Borsa Italiana Group comprises other six companies:

 

1)    BIt Systems S.p.A. is responsible for the management, maintenance and development of the Group's information systems. It also provides Project Management and Systems Integration services to private and public operators, financial institutions and to the exchange industry, for the development and management of applications.

 

2)    Piazza Affari Gestione & Servizi S.p.A. (PAGS), established in 2000 and entirely controlled by Borsa Italiana, provides facility and property management for Palazzo Mezzanotte and its Congress & Training Centre.

 

3)    Cassa di Compensazione e Garanzia S.p.A. (CC&G), established in 1992 and of which Borsa Italiana acquired a controlling share in 2000, ensures market integrity by intervening as central counterparty, becoming the guarantor of the final settlement of the contracts.

 

4)    Monte Titoli is the Italian Central Securities Depository and Settlement Company. Monte Titoli's custody, administration and settlement services are highly automated and available through different communication channels.

 

5)    Servizio Titoli provides listed companies with software, outsourcing services and advisory for all operational phases of the corporate secretary; Servizio Titoli has more than 130 customers and around 5 million managed shareholders.

 

6)    MTS provides wholesale electronic trading of Italian government bonds and other types of fixed income securities.

 

 

 

Borsa Italiana regulates, develops and manages the Italian equities markets, (MTA and Expandi Market), the Italian Derivatives market (IDEM), the Securitised Derivatives market (SeDeX), the electronic Fixed Income market (MOT), the electronic ETFs and ETCs market (ETFplus) and the Electronic Market where Closed-end Funds and Investment Companies are traded (MTF). Borsa Italiana also operates an After Hours Market, where financial instruments trade from 18.00 to 20.30, after the close of the daily market.

Borsa Italiana also manages MTA International, the segment within Borsa Italiana’s MTA regulated equity market dedicated to the trading of shares of foreign issuers already listed in other EU regulated markets.