Tuesday May 23 2017

News Source: Global Exchanges

Focus: Trading Rules

Type: General




Commissione Nazionale per le Società e la Borsa (Consob) has approved the changes to the regulations of the markets organised and managed by Borsa Italiana Spa. It was approved by the company’s board of directors on 29th March last year (CONSOB Resolution no. 20003 of May 17, 2017) and has granted consent to the Instructions provided in the Regulations approved by the CEO.

The approved changes concern in particular:

  • the continuation, on a voluntary basis, of the current provisions for the interim management reports and the half-yearly financial reporting in the STAR segment by Borsa Italiana;
  • the changes on the subject of the admission requisites, such a significant threshold for foreign entities and UCIs(Undertakings in Collective Investment) ) as well as fine tuning on the subject of shareholdings equal to or more than 5%;
  • the discipline of exclusion from trading on request,
  • the extension of the method of distribution on the market to the equity-linked financial instruments;
  • the introduction of specific transparency requisites regarding green and social bonds into the Mot market;
  • the revision of the methods of disclosure of price-sensitive information making them consistent with the Market abuse regulation (MAR), article 7;
  • the extension, within the IDEM market, of the trading hours for the futures contracts on FTSE MIB and the mini futures contracts on FTSE MIB up to 8:30 p.m., compared to the current 5:50 p.m.

Consob has also given its consent to the changes to the Instructions of the regulations, relating to: the change of the methods of disclosure of price-sensitive information; the extension, within the IDEM market, of the trading hours for the futures contracts on FTSE MIB and the mini futures contracts on Ftse Mib up to 8:30 pm compared to the current 5:50 p.m.; bringing forward from 9:30 to 9:15 the listing obligations of market maker operators and market specialists.

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