Article 4.9.1

1.    Borsa Italiana shall control the regularity of trading, verify compliance with these Rules and the Instructions and adopt all the measures necessary for the proper operation of the markets. These functions shall be performed by the competent office, which shall be exclusively equipped with the means needed to carry out the related controls and interventions.

2.    In carrying out its supervisory functions, with the aim of ensuring orderly trading, Borsa Italiana, inter alia:

a)      shall monitor the performance of the markets and individual financial instruments, inter alia with reference to related instruments and the information available to the market;

b)      shall monitor the behaviour of approved intermediaries in the market and compliance with the obligations of market makers, IDEM specialists, specialists in the Star segment, MTA specialists, SeDeX specialists, MIV specialists, ETFplus specialists, TAH specialists, MOT specialists;

c)      shall apply to issuers and approved intermediaries for information deemed necessary in relation to particular market conditions in accordance with Articles 2.6.1 and 3.4.1;

d)      shall verify the updating of records, procedures and any other matters necessary to ensure orderly trading;

e)      shall monitor the operation of the technical equipment and transmission networks of the electronic data processing and telecommunication systems;

f)       shall regulate trading conditions in accordance with the procedures and criteria referred to in Articles 4.9.2, 4.9.3 and 4.9.4;

g)      shall promptly inform the market of the measures it adopts that affect trading in the markets or the performance of financial instruments;

h)      shall promptly suspend the intermediary at the request of the intermediary participating in the settlement service referred to in Article 3.1.3, paragraph 6, and immediately inform Consob;

i)      shall promptly suspend the intermediary following the latter’s suspension or exclusion by the management company of the clearing and guarantee system referred to in Article 5.3.1 and immediately inform Consob;

j)        may suspend intermediaries at the request of the management company of the clearing and guarantee system referred to in Article 5.3.1.

When they concern financial instruments issued by Borsa Italiana, the applications referred to in subparagraph c) and the interventions referred to in subparagraph f) regulating trading conditions in accordance with the procedures and criteria referred to in Article 4.9.2 shall be made by Consob.