Starting from October, 24th the Request for Quote is available on ETFplus, MOT and ExtraMOT market of the Italian Stock Exchange.
The aim of the RFQ functionality is to offer to all the market members a fast and efficient way to find on-exchange (but off-book) counterparties for large-in-scale trades. Institutional clients can thus receive on a dedicated channel proposal of price and quantity that deales do not normally expose on-book to avoid arbitrage or scalping.
An RFQ can be sent only for a minimum quantity equals to:
- 30*EMS for Italian and foreign government securities;
- 8*EMS for all other debt instruments.
Istitutional clients can send:
- RFQ in anonymous and visible mode for securities cleared by the CCP;
- RFP in visible mode for not cleared securities.
The functionality is available during the continuous trading hours and follows the phases of trading.
Traders executed through RFQ are cleared by Cassa di Compensazione e Garanzia (CC&G) for securities denominated in EUR and USD (with the exception of the instruments traded on the segment ExtraMOT PRO).
Settlement in T+2.
For the list of bonds on which Request for Quote, please clic here
For the list of securities traded accompanied by EMS click here
For the Parameter Guide, please clic here