MIV
MIV, The Electronic Market for Investment Vehicles, is a regulated market dedicated to investment vehicles.
On May 24th 2010, Borsa Italiana made a number of market regulation adjustments to modify the admission requirements of Investment Companies and Real Estate Investment Companies. With the same changes, Borsa Italiana introduced a new professional segment dedicated to special investment vehicles. Companies listed in this segment are characterised by a limited or absent diversification of assets such as SPACs (Special Purpose Acquisition Companies) or/and companies with a “complex” investment policy such as multi-strategy funds. This segment is open to professional investors only.
Since the market regulation changes, the market is now divided into four key segments to reflect the varying instrument types:
- Closed-end funds segment, where the units of closed-end securities and real estate funds are traded
- Investment companies segment, where shares of investment companies are traded
- Real Estate Investment Companies segment, where shares of the REICs are traded
- Professional Segment, where Special Investment Vehicles (SIV) and companies not conforming to 4.6.2 of the regulation (minimum obligation of spread of risk in investments) are traded
Financial instruments traded on MIV:
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