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Article 4.1.1 Tradable instruments |
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Article 4.1.2 Trading segments |
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Article 4.1.3 Trading methods and phases |
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Article 4.1.4 Orders |
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Article 4.1.5 Functioning of the auction and phase change rules |
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Article 4.1.6 Continuous trading |
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Article 4.1.7 Reference price |
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Article 4.1.8 Official price - vwap |
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Article 4.1.9 Static and dynamic price |
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Article 4.1.10 Automatic controls on trading |
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Article 4.1.11 Specialists in the Star segment |
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Article 4.1.12 MTA specialists |
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Article 4.1.13 Method of trading unexercised rights |
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Article 4.1.11
1. Trading in the Star segment shall be carried on with the intervention of specialists charged with supporting the liquidity of the instruments listed.
2. For the shares whose liquidity they undertake to support, specialists are required to deal for own account and to display continuous bids and offers with a percentage spread that does not exceed the limit established by Borsa Italiana in the Instructions for a daily quantity specified on a general basis in the Instructions on the basis of objective criteria. Borsa Italiana shall also lay down in the Instructions the methods and times for entering such bids and offers.
3. Specialists are also required to fulfil the obligations referred to in paragraph 2. Borsa Italiana shall establish in the Instructions the circumstances in which specialists may be temporarily relieved from their obligations.
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