Article 4.5.1

1.       Trading in the ETFplus market shall be in unit/shares of open-end funds and securitised derivative financial instruments for which it is provided the subscription or the redemption on continuous basis by delivering the financial instruments or commodities that make up the assets or an equivalent amount of cash, issued by persons referred to in subparagraph 1 b) of Article 2.2.20.

2.       Borsa Italiana may specify a minimum lot for each financial instrument where this is necessary for the market to operate effectively, for investors to have easy access to it and for the execution of orders to be cost efficient.

3.       Purchase and sale contracts concluded on the ETFplus market shall be checked by the service referred to in Article 5.1.1 and settled on the third trading day following their conclusion in the settlement service referred to in Article 69 of the Consolidated Law on Finance;

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