Article1.2

1.     Borsa Italiana shall carry out its functions — in particular, the admission, exclusion and suspension of financial instruments and intermediaries to and from trading and the surveillance of the markets — without discrimination and by means of procedures defined on a general basis.

2    Borsa Italiana shall establish and maintain organisational arrangements likely to prevent conflicts of interest. In particular, it shall ensure that the persons responsible for the departments performing the functions referred to in the preceding paragraph have complete autonomy in carrying out examinations and putting forward proposals. In performing these functions they shall be responsible exclusively to the Managing Director, who shall be entrusted with the related decision-making powers.

3.    Borsa Italiana shall also establish and maintain an internal control system to verify compliance with the law, rules and internal procedures.

4.    The Board of Directors shall issue directives to the aforesaid departments that are exclusively of a general nature and, in exceptional circumstances and then only in writing, on particular matters.

5.    The functions of admitting, suspending and excluding financial instruments issued by Borsa Italiana shall be performed by Consob in accordance with the provisions of these Rules and the accompanying Instructions insofar as they are applicable. In such case Consob shall ensure that Borsa Italiana complies with the provisions of these Rules.

6.    Borsa Italiana shall create and maintain operational and organisational mechanisms for the management of the potential conflicts of interest deriving from the admission to trading of its financial instruments, with special reference to the procedures for accessing information on trading in its financial instruments