ATFund was launched on 1st October 2018. ATFund is the first Italian market dedicated to the trading of open-end funds for both institutional and retail investors.
ATFund is a Multilateral Trading Facility (MTF) managed by Borsa Italiana.
ATFund is the result of the considerable experience that Borsa Italiana possesses with technological innovation at the service of the financial markets. We sought to offer up the expertise we honed over time to standardise and automate the distribution process for funds, which traditionally has not benefited from the strengths of a trading market. Simplification of access and centralisation of information regarding listed products are two other key characteristics of this initiative. Efficiency and process standardisation in turn give rise, by definition, to simpler and lower “incidental” costs than in an unintegrated distribution model.
The ATFund market is compliant with European laws MIFID II and MAR. Units/shares of open-end funds may be admitted to trading where compliant with:
- UCITS Directive 2009/65/CE with a passport for institutional investors and
- AIFM Directive 2011/61/UE not reserved and accompanied with Consob authorization pursuant to the Article 44 of the “Testo Unico della Finanza” concerning the promotion of FIA quotes/shares to retail investors.