Article 4.3.1

1.       Trading in the TAH market shall be in shares listed on the Stock Exchange that satisfy the liquidity requirements established in the Instructions. The Instructions shall also specify the shares that may be traded in the After-Hours Market at the request of an intermediary that undertakes to support their liquidity.

2.       Trading in the TAH market may also be in securitised derivative financial instruments traded in the SeDeX market that meet the requirements laid down in the Instructions provided the issuer undertakes to fulfil the quotation commitments referred to in Title 4.2, Article 4.2.10.

3.       The minimum lots shall be the same as those established for the MTA market, if specified. The minimum lots for securitised derivative financial instruments traded in the SeDeX market shall be those established in the SeDeX market.

4.       Borsa Italiana shall draw up the list of financial instruments traded in the TAH market at the time of the ordinary revision of the FTSE MIB index. Borsa Italiana may exclude securitised derivative financial instruments traded in the SeDeX market and shares whose liquidity is lower than that established pursuant to paragraph 1 where the undertakings of respectively the issuer and the specialist are not fulfilled.

5.       Purchase and sale contracts having as their subject financial instruments referred to in paragraphs 1 and 2 shall be checked by the service referred to in Article 5.1.1 and settled on the third trading day following their conclusion.

6.       Borsa Italiana may specify in the Instructions the rules that shall apply where the sale and purchase contracts are not settled within the time limit established in paragraph 5. The entry into force of such rules shall be subject to Consob granting its explicit consent.