ITALY: CONSOB Approves Amendments to Borsa Italiana Regulations

Friday August 21 2015

Consob has given its authorisation for amendments to the Instructions on Regulations for Markets Organised and Managed by Borsa Italiana Spa.

The amendments concern the following:

• the management of fails on financial instruments involved in corporate operations (e.g. dividend detachment, assignment of stock options, groupings, mergers); this amendment serves to facilitate the migration of the Monte Titoli Spa regulation system from the Express II platform to the Target 2 Securities (T2S) platform;
• the introduction of buyer protection regulations;
• changes to the buy-in procedure for non-guaranteed financial instruments.

The amendments have been prepared in consultation with the category associations and incorporate the results of these negotiations. They will come into force when Monte Titoli Spa migrates to the Target 2 Securities system.

Consob has also consented to additional changes to the Instructions to the Regulation of the markets organised and managed by Borsa Italiana approved by the Managing Director on 23 June 2015, also as consulted with the associations category.

These additional changes specifically regard the listing obligations of market makers on future and mini-future contracts on the FTSE MIB index and on weekly share option contracts.

Click on the link above for further details.