Borsa Italiana

Last updated

Borsa Italiana
Logo Borsa Italiana 2021.svg
Palais Mezzanotte - Milan (IT25) - 2022-09-03 - 3.jpg
The Palazzo Mezzanotte with Il Dito in front
Type Stock exchange
Location Milan, Italy
Founded1808;216 years ago (1808)
Owner Euronext [1]
Key people Claudia Parzani (chairperson)
Fabrizio Testa (CEO)
Currency EUR
No. of listings353
Market cap EUR [2] (2017) € billion 2,370.00 ($ billion 2,960.00)
Volume EUR609 billion
Indices FTSE MIB
FTSE Italia All-Share
FTSE Italia Mid Cap
FTSE Italia Small Cap
FTSE AIM Italia
Website www.borsaitaliana.it

Borsa Italiana, based in Milan at Mezzanotte Palace, is the Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies. [3]

Contents

Following exchange privatisation in 1997, the Italian Bourse was established and became effective on 2 January 1998. [4] On 23 June 2007, the Italian Bourse became a subsidiary of the London Stock Exchange Group. [5] This changed on 9 October 2020, when a €4.3 billion deal was agreed between the London Stock Exchange Group and pan-European stock exchange group Euronext. [6] Euronext's acquisition of the Italian Bourse was completed on 29 April 2021. It is expected Italian Bourse will be rebranded as Euronext Milan in due course. [7]

Borsa Italiana is also informally known as Piazza Affari (lit. 'Business Square'), after the city square of Milan where its headquarters (the Palazzo Mezzanotte building) is located.

Borsa Italiana is chaired by Claudia Parzani, and Fabrizio Testa is the CEO. [8]

Borsa Italiana is regulated by the Commissione Nazionale per le Società e la Borsa (CONSOB), an agency of the Ministry of Economy and Finance, based in Rome. As of April 2018, overall capitalisation for listed companies on Borsa Italiana was worth €644.3 billion, representing 37.8% of Italian GDP. [9]

History

Bourse palace in Venice, decorated with the caduceus coat of arms, representing commerce Borsa Italiana - Venice 2016.jpg
Bourse palace in Venice, decorated with the caduceus coat of arms, representing commerce

The Borsa di commercio di Milano (Milan Stock Exchange) was established by Eugène de Beauharnais, viceroy of the Napoleonic Kingdom of Italy, through decrees dated 16 January and 6 February 1808. [10] It overtook historically poorly regulated Borsa di Genova and became the stock exchange in the country after the Panic of 1907.

It operated under public ownership until 1998, when it was privatized. [11] In 1997, all the Italian stocks were merged. Before that year, other smaller stocks exchanges were based in Naples, Turin, Trieste, Venice, Genoa, Florence, Bologna, Rome, and Palermo. In 1991, the electronic exchanges were approved, and in 1994, the market with grids (A, B, C) was abolished. In Milan were also the currencies exchange rates fixing and the commodities fixing. [12]

On 1 October 2007, Borsa Italiana was merged with the London Stock Exchange in an all-share takeover, [13] thus becoming part of the London Stock Exchange Group. In March 2016, the London Stock Exchange Group announced the agreement to merge in an all-stock deal with Deutsche Borse, but was subsequently blocked by the EU Competition Regulator. [14]

On 18 September 2020, the London Stock Exchange Group entered into exclusive talks to sell the Italian Bourse to Euronext. [15] On 29 April 2021, following the entry of CDP Equity and Intesa San Paolo (Italian institutional investors) as shareholders of Euronext, the European group assumed control of the company. [16] Its weight on the total Italian economy is growing: the overall capitalization of listed companies in December 2021 stood at 757 billion (equal to 43.1% of GDP), up by 24.7% compared to 2020. [17]

Operations

The entrance to Palazzo Mezzanotte in Milan, headquarters of the Borsa Italiana IMG 4468 - Milano - La Borsa - Dettaglio - Foto di Giovanni Dall'Orto - 20 jan 2007.jpg
The entrance to Palazzo Mezzanotte in Milan, headquarters of the Borsa Italiana

Borsa Italiana acts as a market management firm operating with autonomy and flexibility. It organises and manages the domestic stock market along with Italian and international brokers through a fully electronic trading system. Among its leading tasks, Borsa Italiana supervises listed companies, defining rules for admission and listings and supervising transaction activities. [18]

Trading hours

The exchange has pre-market sessions from 8AM to 9AM, normal trading sessions from 9am to 5:30PM and post-market sessions from 6PM to 8:30PM on all days of the week except Saturdays, Sundays, and holidays declared by the Exchange in advance. [19]

Markets

Major trading markets for Borsa Italiana are:

Borsa Italiana also include markets for derivatives (IDEM), [23] ETF (ETFPlus) and bonds (MOT). [24]

Indices

Borsa Italiana's main indices are: [25]

Listed companies

For a full list see Category:Companies listed on the Borsa Italiana.

See also

Related Research Articles

<span class="mw-page-title-main">London Stock Exchange</span> Stock exchange in the City of London

London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. As of August 2023, the total market value of all companies trading on the LSE stood at $3.18 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cathedral in the City of London. Since 2007, it has been part of the London Stock Exchange Group. The LSE is the most-valued stock exchange in Europe as of 2023. According to the 2020 Office for National Statistics report, approximately 12% of UK-resident individuals reported having investments in stocks and shares. According to the 2020 Financial Conduct Authority (FCA) report, approximately 15% of UK adults reported having investments in stocks and shares.

<span class="mw-page-title-main">Euronext</span> European financial services company

Euronext N.V. is a pan-European bourse that provides trading and post-trade services for a range of financial instruments.

<span class="mw-page-title-main">Frankfurt Stock Exchange</span> 12th largest stock exchange by market capitalization

The Frankfurt Stock Exchange is the world's 3rd oldest and 12th largest stock exchange by market capitalization. It has operations from 8:00 am to 10:00 pm.

<span class="mw-page-title-main">TIM Group</span> Italian telecommunications company

TIM S.p.A. is an Italian telecommunications company with headquarters in Rome, Milan, and Naples, which provides fixed telephony and DSL data services.

Bourse may refer to:

<span class="mw-page-title-main">Nasdaq, Inc.</span> American multinational financial services corporation

Nasdaq, Inc. is an American multinational financial services corporation that owns and operates three stock exchanges in the United States: the namesake Nasdaq stock exchange, the Philadelphia Stock Exchange, and the Boston Stock Exchange, and seven European stock exchanges: Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, and Nasdaq Vilnius. It is headquartered in New York City, and its president and chief executive officer is Adena Friedman.

<span class="mw-page-title-main">Deutsche Börse</span> Financial services company of Germany

Deutsche Börse AG, or the Deutsche Börse Group, is a German multinational that offers a marketplace for organizing the trading of shares and other securities. It is also a transaction services provider, giving companies and investors access to global capital markets. It is a joint stock company and was founded in 1992, with headquarters in Frankfurt. On 1 October 2014, Deutsche Börse AG became the 14th announced member of the United Nations Sustainable Stock Exchanges initiative.

The FTSE MIB is the benchmark stock market index for the Borsa Italiana, the Italian national stock exchange, which superseded the MIB-30 in September 2004. The index consists of the 40 most-traded stock classes on the exchange. The index was administered by Standard & Poor's from its inception until June 2009, when this responsibility was passed to FTSE Group, which is 100% owned by the Borsa Italiana's parent company London Stock Exchange Group.

Turquoise is an equities trading platform, created by nine major investment banks in 2008. The aim was to provide dealing services at a 50% discount to traditional exchanges. It is a hybrid system that allows trading both on and off traditional exchanges. The system was advertised as a "pan-European platform based in London".

<span class="mw-page-title-main">London Stock Exchange Group</span> British financial services company

London Stock Exchange Group plc is a United Kingdom-based stock exchange and financial information company headquartered in the City of London, England. It owns the London Stock Exchange, Refinitiv, LSEG Technology, FTSE Russell, and majority stakes in LCH and Tradeweb.

<span class="mw-page-title-main">A2A</span>

A2A S.p.A. is an Italian company, organised as a società per azioni, that generates, distributes, and markets renewable energy, electricity, gas, integrated water supply, and waste management services. The company has significant presence in the North of Italy, energy production facilities in Italy and Greece.

The FTSE Italia Mid Cap is a stock market index for the Borsa Italiana, the main stock exchange of Italy. It is one of the indices in the FTSE Italia Index Series.

<span class="mw-page-title-main">MillenniumIT ESP</span> Sri Lanka-based information technology firm

MillenniumIT ESP is a Sri Lankan information technology company that provides enterprise solutions with a portfolio that includes stock exchange systems, infrastructure platforms, cyber security systems, managed services, automation, and cloud services. Headquartered in Colombo, Sri Lanka, MIT ESP also offers industry-specific solutions tailored for banking and finance, telecommunications, government, manufacturing and retail, and commercial sectors.

<span class="mw-page-title-main">Raffaele Jerusalmi</span> Italian executive (born 1961)

Raffaele Jerusalmi is an Italian executive and CEO of Borsa Italiana S.p.A.

Banca Finnat is a company that provides investment services to institutional, private and corporate customers; it is listed on the Italian Stock Exchange. The Bank's origins date back to 1898, when the company was founded by the Nattino family, initially as a finance company. Banca Finnat then became a brokerage company, a real estate brokerage company and lastly, since 12 February 1998, an intermediary bank. Banca Finnat is today listed in the STAR section of the Borsa Italiana-London Stock Exchange.

<span class="mw-page-title-main">Credito Valtellinese</span>

Credito Valtellinese was an Italian bank based in Sondrio prior to its acquisition by Crédit Agricole Italia in 2021. The company was a former component of FTSE Italia Mid Cap Index of the Borsa Italiana, but was removed and added as a component of FTSE Italia Small Cap Index in May 2017; the bank was added back to the reserve list of FTSE Italia Mid Cap in August 2017.

Jean-François Théodore was a French businessman, President, Chairman and CEO of Euronext N.V., deputy CEO and Head of Strategy of NYSE Euronext Inc. for Euronext N.V and chairman of its Managing Board.

<span class="mw-page-title-main">INWIT</span>

Infrastrutture Wireless Italiane S.p.A. or, in abbreviated form, INWIT S.p.A., is an Italian joint-stock company headquartered in Milan, which operates in the wireless network infrastructure sector.

<span class="mw-page-title-main">Borsa di Genova</span>

The Genoa Stock Exchange was one of the ten Italian stock exchanges active until 1997, when they were unified into the Italian Stock Exchange.

Anima Holding SpA (Anima) is an Italian asset management company headquartered in Milan. It is currently publicly traded on the Borsa Italiana and is a constituent member of the FTSE Italia Mid Cap index. It is the largest independent investment manager in Italy.

References

Notes

  1. ↑ ansa.it, ""
  2. ↑ "Borsa in tempo reale – Listino completo – Milanofinanza.it". milanofinanza.it. Archived from the original on 11 July 2017. Retrieved 4 April 2018.
  3. ↑ italy24.ilsole4ore.com, "Borsa Italiana Archived 1 August 2017 at the Wayback Machine "
  4. ↑ source sense.com, "Borsa Italiana"
  5. ↑ news.bbc.co.uk, "London Stock Exchange Buys Borsa"
  6. ↑ "Lse vende Borsa Italiana ad Euronext per 4,32 miliardi". Il Sole 24 ORE (in Italian). 9 October 2020. Retrieved 26 October 2020.
  7. ↑ "Amendments to the Instructions to the Regulations of CC&G and related Annex – Rebranding of MTA and MIV markets" (PDF). Euronext . 22 October 2021.
  8. ↑ "Organi Sociali e Libro Soci - Borsa Italiana". borsaitaliana.it. Retrieved 2 March 2022.
  9. ↑ finanzalternativa.it, ""
  10. ↑ http://www.historytour.it Archived 31 December 2009 at the Wayback Machine , "History Tour – Borsa Italiana Archived 2012-03-05 at the Wayback Machine "
  11. ↑ "Historical Stages". Borsa Italiana.[ dead link ]
  12. ↑ "24 dicembre 1802: viene istituita la Borsa Valori di Roma -". parmadaily.it. 24 December 2016. Retrieved 4 April 2018.
  13. ↑ "I Principali Indici di Borsa Italiana dopo la fusione con la Borsa di Londra". toptrading.org. 21 January 2020.
  14. ↑ competitionpolicyinternational.com, "EU: LSE and Deutsche Börse officially announce merger"
  15. ↑ businessinsider.com/lse-engages-euronext-in-exclusive-borsa-italiana-talks-2020-9?r=US&IR=T
  16. ↑ "Euronext: chiuso acquisto Borsa Italiana, valore finale 4,444 mld euro (RCO)". Il Sole 24 ORE (in Italian). Retrieved 19 January 2023.
  17. ↑ Paronetto, Paolo (30 December 2021). "Piazza Affari, +24,7% la capitalizzazione 2021 a 757 miliardi, Ipo da record". Il Sole 24 ORE (in Italian). Retrieved 19 January 2023.
  18. ↑ borsaitaliana.it, "EU: LSE and Deutsche Börse officially announce merger [ permanent dead link ]"
  19. ↑ Market Hours, Italian Stock Exchange via Wikinvest
  20. ↑ lseg.com, "MTA Archived 18 April 2019 at the Wayback Machine "
  21. ↑ lseg.com, "AIM Italia Archived 10 April 2021 at the Wayback Machine "
  22. ↑ lseg.com, "MIV: Trading Archived 18 April 2019 at the Wayback Machine "
  23. ↑ lseg.com, 'IDEM Equity Archived 18 April 2019 at the Wayback Machine "
  24. ↑ lseg.com, "MOT Archived 18 April 2019 at the Wayback Machine "
  25. ↑ borsaitaliana.it, "Gli indici"
  26. ↑ strategystocks.co.uk, "Milan Stock Exchange: The Italian Index "
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.