MOT

The MOT regulated market is characterised by its strong retail and institutional investor base. It has a flexible model that does not require a Listing Sponsor to request the listing of instruments. Issuers and their arrangers can also use the market platform as a distribution channel.

This gives issuers and their network access to an unparalleled pool of liquidity and international visibility, with direct connection to Italian retail investors, and allows them to benefit from the advantages associated with distribution on the market.

Instruments

MOT is the regulated market of Borsa Italiana, part of the Euronext Group. It is dedicated in particular to the listing of:

• italian government bonds
• european government bonds
• securities issued by supranational entities
• public securities issued by corporates and financial companies

Requirements

In order to be admitted to listing, companies must:

1. file the Listing Prospectus with Consob or publish the passported Prospectus in Italy, approved by the competent authority of another EU Member State
   
   
2. publish and file the financial statements, either on a solo or on a consolidated basis, for the last two years, subject to statutory audit
   
   
3. notify to Borsa Italiana any rating attributed to the individual issue
   
   
4. ensure that the debt instruments for which admission to the Professional segment is requested are freely transferable and are suitable for settlement via Euronext Securities Milan or via Euroclear and Clearstream Luxembourg

The listing process

For the admission to trading of financial instruments:

• the Issuer submits the application for admission to listing complete with the appropriate documentation
• within 60 days, Borsa Italiana, having verified that the documentation is complete and admission requirements are met, communicates by Notice the admission to trading

Issuers may also apply to Borsa Italiana for a declaration of admissibility for the listing of financial instruments to be issued under a programme. In this case, Borsa Italiana guarantees a reduced timeline (5 days) for the admission to listing of individual instruments issued on the basis of the programme for which the declaration was issued.

Borsa Italiana also offers issuers the possibility to request the listing of their instruments through its next-generation platform, MyEuronext

For more details on the requirements and the listing process, please refer to the Market Rules

For more information, contact us at DebtListingItaly@euronext.com