Borsa Italiana

The Italian Stock Exchange ( Borsa Italiana Italian ), since 2007 a ​​subsidiary of the London Stock Exchange, the Stock Exchange of Italy based in the Palazzo Mezzanotte in Piazza Affari in Milan. For the latter reason, the Italian stock market is also known colloquially Piazza Affari.

Background

The Borsa Italiana SpA is for the organization, management and operation of the Italian securities trading charge. The company is simultaneously also the holding company for five additional, specialized in various standing in connection with the securities trading business areas, business. The current organizational structure is subjected by completion in October 2007 merger with the London Stock Exchange ( LSE) through various integration projects a number of changes.

The trade is divided into the five product segments stocks, the securitized derivatives, ETF and ETC, debt securities and equity derivatives. These in turn are broken down into different sub- segments. In all segments of the trade takes place largely via fully automated trading systems. The trading hours are different depending on the segment, aimed at the main segments but to the normal trading hours of other European exchanges 9:00 to 17:30.

The blue-chip market is with a share of over 80 per cent of the value of the total volume traded the heaviest segment. As of September 30, 2007 84 companies were listed with a capitalization of 772 billion euros in Blue Chip. With a share of around 8 per cent of the value of the total traded volume of the segment of the Italian government securities market is the second most important.

The Italian stock market is measured by the total trading volume in 2006 and the fourth largest in terms of the total market capitalization of listed companies, the seventh-largest stock exchange in Europe. The Borsa Italiana Group had at the end of 2006 472 employees and in 2006 generated consolidated sales of 278.5 million euros.

History

The emergence of the Italian Stock Exchange dates back to 1808 by viceroy Eugène de Beauharnais, adopted decree by which the " Borsa di Commercio di Milano " was founded. The first trading day was the 15th of Februar 1808. Unlike the Anglo-Saxon stock markets, which resulted from a merger of private market participants, the Italian stock market remained state since its foundation until 1998.

In 1998, the Italian stock market was fully privatized and in the form of a stock corporation as Borsa Italiana SpA reorganized. This was until the merger with the London Stock Exchange ( LSE) in mid-2007 almost completely owned by the Italian banks, was in its operating activities, but independently.

In June 2007, the Borsa Italiana SpA announced and the London Stock Exchange ( LSE ) on their merger, which was completed on 1 October 2007 at a purchase price of 1.878 billion euros. The transaction took place by means of a share swap, whereby the LSE control of the Borsa Italiana SpA took over, and its existing shareholders the largest shareholder group of the London Stock Exchange were in the meantime. The LSE currently has four of the twelve Board seats Borsa Italiana SpA, during the eleven-member board of the LSE Borsa Italiana SpA five ordered to take a seat on supervisory boards.

Ownership structure and subsidiaries

The Cassa di compensazione e Garanzia (CC & G) is the Italian clearing house and subsidiary of Borsa Italiana.