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ATFund Market

A transparent marketplace designed to simplify the distribution of open-ended funds.

ATFund is a market platform dedicated to the trading of open-ended funds, designed to enable more efficient access and support the distribution of funds to both retail and institutional investors.

Operated by Borsa Italiana as a Multilateral Trading Facility (MTF), ATFund provides a transparent, neutral, and independent market infrastructure, in line with European standards of efficiency, integrity, and investor protection.

A market designed for fund distribution

ATFund supports asset managers and intermediaries in the efficient distribution of open-ended funds, offering a regulated market environment and streamlined operational processes.

The platform enables the connection of asset managers, distributors, and investors through a market infrastructure that is unique within the Italian landscape.

Key advantages of ATFund

A dedicated market infrastructure

ATFund is the only multilateral trading facility in Italy specifically designed for the trading of open-ended funds.

Greater transparency

Transactions are executed at NAV, ensuring full clarity on execution mechanisms and on the costs applied by intermediaries.

Operational efficiency

Standardised processes streamline intermediaries’ operations, enhance the investor experience, and contribute to reducing overall industry costs.

Thanks to integration with Euronext Securities Milan, settlement is automated, reliable, and fully aligned with tax processing.

Neutrality and independence

A market infrastructure operated by Borsa Italiana that ensures full transparency in distribution conditions and access to financial instruments.

A market aligned with the European regulatory framework

ATFund operates in compliance with key European regulations:

MiFID II (Directive 2014/65/EU), ensuring transparency in trading mechanisms and investor protection;
MAR (Regulation (EU) No 596/2014), safeguarding market integrity and the proper conduct of trading activities.

For further information, please contact the Borsa Italiana team: ATFund@euronext.com

Borsa Italiana for open-end funds

Discover all the details about listing on the ATFund market: download the Presentation and access information on the benefits and procedures for listing funds.

Dowload the presentation