Trading
Euronext Milan and Euronext Growth Milan
Trading on Euronext Milan and Euronext Growth Milan occurs on the basis of auction and continuous trading.
Trading hours are the following:
- Opening auction, including pre-auction theoretical price set up and conclusion of contracts (“opening”);
- Continuous trading
- Closing auction, including pre-auction theoretical price set up and conclusion of contracts (“closing”)
- Trading at closing auction price, with opportunity of entry, change, cancellation of orders and later of contract execution, in accordance with the priority of order entry
Trading on Euronext Milan occurs according to the following timetable:
Euronext Milan |
Timetable |
Opening auction (pre-auction, validation, opening and conclusion of contracts) |
08:00 - 09:00 (09:00:00 - 09:00:59) |
Continuous trading |
09:00 - 5:30pm |
Closing auction (pre-auction, validation, closing and conclusion of contracts) |
5:30 - 5:35pm (5:35:00 - 5:35:59pm) |
Trading at closing auction price (order entry phase, trading phase) |
5:35 (5:35:00 - 5:35:59pm) - 5:42pm |
Trading on Euronext Growth Milan occurs according to the following timetable:
Euronext Growth Milan |
Timetable |
Opening Auction (pre-auction, validation, opening and conclusion of contracts) |
08:00 - 09:00 (09:00:00 - 09:00:59) |
Continuous trading |
09:00 - 5:30pm |
Closing Auction (pre-auction, validation, closing and conclusion of contracts) |
5:30 - 5:35pm (5:35:00 - 5:35:59pm) |
Trading on Euronext Growth Milan professional segment is based on a single daily price determined during an auction phase from 8.00am to 5.35pm.
GEM and TAH Segment
Borsa Italiana Equity MTF market is divided into the Borsa Italiana Global Equity Market segment (Bit GEM segment) and the Trading After Hours segment (TAH segment).
In 2019, approximately 26,000 contracts were exchanged on this market (1,020 contracts per day, with a daily notional value of around 6,4m of euros).
Trading on the Bit GEM segment takes place during the following hours:
BIT GEM segment |
Trading hours |
Opening auction (pre-auction, validation, opening and closing of contracts) |
08:00 - 09:00am (9:00:00 - 9:00:59pm) |
Continuous trading |
09:00am - 5:30pm |
Closing auction (pre-auction, validation, opening and closing of contracts) |
5:30 - 5:35pm (5:35:00 - 5:35:59pm) |
Trading at closing auction price (order entry phase, trading phase) |
5:35 (5:35:00 - 5:35:59pm) - 5:42pm |
As of today, the basket of the Bit GEM segment includes 88 foreign securities, such as Tesla, Amazon and Bayer.
Trading on the TAH segment takes place during the following hours:
TAH segment |
Trading hours |
Continuous trading |
6:00 - 8:30pm |
The TAH is the evening market which allows for the trading of securities from 6:00 to 8:30pm.
For more information on trading please contact EQUITY.MARKETS@borsaitaliana.it