ITALY: Lapse of Italy short selling emergency prohibitions

Wednesday January 28 2015

Further to the update of 11 November 2014, the Italy emergency short selling measures, which prohibited short sales in all financial instruments of Banca MPS and Banca Carige, have been allowed to lapse without further extension.

The measures, in addition to shares, applied to derivative instruments which had Banca MPS or Banca Carige shares as underlying. It extended to intraday transactions and to transactions carried out outside the Italian markets. Over-the-counter transactions were also affected. Transactions in index-related instruments were exempted from the ban.