ITALY: Extension to Italy emergency short selling measures

Tuesday November 11 2014

Further to the update of 28th October, the Italian regulator Consob has extended the emergency measures on the creation or extension of net short positions in Banca MPS and Banca Carige.

The prohibition has been extended until the end of day of Tuesday 27 January 2015.

The ban also affects derivative instruments which have Banca MPS or Banca Carige shares as underlying. The ban applies to intraday transactions and to transactions carried out outside the Italian markets. Over-the-counter transactions are affected as well. Transactions in index-related instruments are exempted from the ban.

Click on the above link for the press release. Click here for the initial Consob guidance.