Markets

The MTA International is the new segment within Borsa Italiana’s MTA regulated equity market dedicated to the trading of shares of non Italian issuers already listed in other EU regulated markets.

The segment enables to trade on MTA some of the most liquid shares in the Euro area fungibly with their primary market, whilst benefiting from Borsa Italiana’s efficient and cost-competitive trading and post-trading infrastructure.

The main features of MTA International are:

• in the segment are eligible for admission, without the requirement to publish a prospectus, shares that have been listed on another European regulated market for at least 18 months. Admission to trading on MTA International may be requested by any of Borsa Italiana’s market intermediaries, by an issuer or by Borsa Italiana itself;
• admission of financial instruments on MTA International will be announced in a Notice, which will specify the trading start date and other relevant details;
• a dedicated procedure and specific disclosure obligations (both initial and ongoing, for the care of the applicant) will apply;
• trading phases and hours on MTA International are the same as for the blue-chip segment of the MTA market (with the exception of the after hours session):

• provision has been made for the possible intervention of trading specialists willing to display continuous bid and offer prices;
• contracts concluded on the new segment are guaranteed by CC&G’s Central Counterparty, routed through the RRG daily trade-checking service and settled by Monte Titoli, in a similar way to the other contracts currently concluded on the MTA market;
• the settlement calendar used is that of the TARGET European payment system; provision has been made for the settlement time limit to differ from T+3, in order to align it to the European market where the financial instrument has its main listing;
• MTA International does not provide for the trading of any rights associated with corporate actions carried out by issuers whose shares are traded in the segment and no adjustment is made to the reference price of the shares concerned when dividends are paid or corporate actions are carried out;
• shares traded on the MTA International segment are not included in any of Borsa Italiana's indices or indices underlying derivative instruments.

For the quotes of  MTA International companies: click here