Borsa Italiana
Encyclopedia
The Borsa Italiana S.p.A., based in Milan
, is Italy
's main stock exchange
. It was privatised in 1997 and is a part of the London Stock Exchange Group plc
since 2007. In 2005, the companies listed on the Borsa were worth US$890 billion. It is also informally known as Piazza Affari ("Business Square"), after the city square of Milan where its headquarters (the Palazzo Mezzanotte
building) is located.
, viceroy of the Napoleonic Kingdom of Italy
, through decrees dated 16 January and 6 February 1808. It operated under public ownership until 1998.
It was sold to a consortium of banks, and operated under a joint-stock holding company between 2 January 1998 and on 1 October 2007, when it was merged with the London Stock Exchange
in an all-share takeover.
markets (IDEM and MIF) and its fixed income
market (MOT). On the MOT (Electronic Government Bond and Securities Market), buy and sell contracts are traded on government securities and nonconvertible bonds
; the EuroMOT is the Euro-Bond Electronic Market that trades Eurobonds, bonds from foreign issuers and asset-backed securities.
The stock market is divided into five parts: 1) The electronic share market (MTA) trades Italian shares, convertible bonds, and warrants
; the covered-warrant
market is an electronic share market. 2) The STAR (Segment for High Requirement Shares) market is within the MTA and includes companies capitalised from 40 million to 100 million euros that are already listed and traded in more-traditional sectors. 3) Nuovo Mercato is dedicated to innovation-driven companies. 4) Stocks
, bonds
, warrants
, and options
not admitted to the official exchange are traded on Mercato Ristretto. 5) Premi Market is for premium contracts on stock exchange products. The after-hours market enables trading of financial instruments after the daytime session closes.
A principle of the exchange has been the separation of regulation and management, allowing the exchange to be entrepreneurial while maintaining confidence in the market through the external regulators CONSOB
and the Banca d'Italia
.
Other indices include the MIDEX, ALL STARS and the now defunct MIB 30 index.
45°27′52"N 9°10′58"E
Milan
Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
, is Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
's main stock exchange
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
. It was privatised in 1997 and is a part of the London Stock Exchange Group plc
London Stock Exchange Group plc
The London Stock Exchange Group plc is the leading diversified stock exchange group in Europe. It owns the Borsa Italiana and London Stock Exchanges. It is a member of the FTSE 250 Index as of 21 June 2010.-History:...
since 2007. In 2005, the companies listed on the Borsa were worth US$890 billion. It is also informally known as Piazza Affari ("Business Square"), after the city square of Milan where its headquarters (the Palazzo Mezzanotte
Palazzo Mezzanotte
Palazzo Mezzanotte , also known as Palazzo delle Borse is a 20th century building of Milan, Italy, and the seat of the Italian stock exchange. It is located in Piazza Affari , the city square after which the Italian stock exchange itself is nicknamed...
building) is located.
History
The Borsa di commercio di Milano (Milan Stock Exchange) was established by Eugène de BeauharnaisEugène de Beauharnais
Eugène Rose de Beauharnais, Prince Français, Prince of Venice, Viceroy of the Kingdom of Italy, Hereditary Grand Duke of Frankfurt, 1st Duke of Leuchtenberg and 1st Prince of Eichstätt ad personam was the first child and only son of Alexandre, Vicomte de Beauharnais and Joséphine Tascher de la...
, viceroy of the Napoleonic Kingdom of Italy
Kingdom of Italy (Napoleonic)
The Kingdom of Italy was a state founded in Northern Italy by Napoleon, fully influenced by revolutionary France, that ended with his defeat and fall.-Constitutional statutes:...
, through decrees dated 16 January and 6 February 1808. It operated under public ownership until 1998.
It was sold to a consortium of banks, and operated under a joint-stock holding company between 2 January 1998 and on 1 October 2007, when it was merged with the London Stock Exchange
London Stock Exchange Group plc
The London Stock Exchange Group plc is the leading diversified stock exchange group in Europe. It owns the Borsa Italiana and London Stock Exchanges. It is a member of the FTSE 250 Index as of 21 June 2010.-History:...
in an all-share takeover.
Operations
Borsa Italiana has managing responsibility for Italy's derivativesDerivative (finance)
A derivative instrument is a contract between two parties that specifies conditions—in particular, dates and the resulting values of the underlying variables—under which payments, or payoffs, are to be made between the parties.Under U.S...
markets (IDEM and MIF) and its fixed income
Fixed income
Fixed income refers to any type of investment that is not equity, which obligates the borrower/issuer to make payments on a fixed schedule, even if the number of the payments may be variable....
market (MOT). On the MOT (Electronic Government Bond and Securities Market), buy and sell contracts are traded on government securities and nonconvertible bonds
Bond (finance)
In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest to use and/or to repay the principal at a later date, termed maturity...
; the EuroMOT is the Euro-Bond Electronic Market that trades Eurobonds, bonds from foreign issuers and asset-backed securities.
Hours
The exchange has pre-market sessions from 08:00am to 09:00am, normal trading sessions from 09:00am to 05:25pm and post-market sessions from 06:00pm to 08:30pm on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance.Structure
Borsa Italiana organises and manages the Italian stock market with the participation of nearly 130 domestic and international brokers that operate in Italy or from abroad through remote membership, using a completely electronic trading system for the real-time execution of trades. In addition, it performs organisational, commercial and promotional activities aimed at developing high value-added services for the financial community.The stock market is divided into five parts: 1) The electronic share market (MTA) trades Italian shares, convertible bonds, and warrants
Warrant (finance)
In finance, a warrant is a security that entitles the holder to buy the underlying stock of the issuing company at a fixed exercise price until the expiry date....
; the covered-warrant
Covered warrant
In finance a covered warrant is a type of warrant that has been issued without an accompanying bond or equity...
market is an electronic share market. 2) The STAR (Segment for High Requirement Shares) market is within the MTA and includes companies capitalised from 40 million to 100 million euros that are already listed and traded in more-traditional sectors. 3) Nuovo Mercato is dedicated to innovation-driven companies. 4) Stocks
Stocks
Stocks are devices used in the medieval and colonial American times as a form of physical punishment involving public humiliation. The stocks partially immobilized its victims and they were often exposed in a public place such as the site of a market to the scorn of those who passed by...
, bonds
Bond (finance)
In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest to use and/or to repay the principal at a later date, termed maturity...
, warrants
Warrant (finance)
In finance, a warrant is a security that entitles the holder to buy the underlying stock of the issuing company at a fixed exercise price until the expiry date....
, and options
Option (finance)
In finance, an option is a derivative financial instrument that specifies a contract between two parties for a future transaction on an asset at a reference price. The buyer of the option gains the right, but not the obligation, to engage in that transaction, while the seller incurs the...
not admitted to the official exchange are traded on Mercato Ristretto. 5) Premi Market is for premium contracts on stock exchange products. The after-hours market enables trading of financial instruments after the daytime session closes.
A principle of the exchange has been the separation of regulation and management, allowing the exchange to be entrepreneurial while maintaining confidence in the market through the external regulators CONSOB
Commissione Nazionale per le Società e la Borsa
Commissione Nazionale per le Società e la Borsa or Italian Securities and Exchange Commission is the government authority of Italy responsible for regulating the Italian securities market...
and the Banca d'Italia
Banca d'Italia
Banca d'Italia is the central bank of Italy and part of the European System of Central Banks. It is located in Palazzo Koch, Roma, via Nazionale...
.
Indices
The borsa's main indices are :- the FTSE MIB, a capitalisation-weighted index of 40 of the biggest companies chosen to represent 10 economic sectors
- the MIBTelMIBTelThe MIBTel is a stock market index for the Borsa Italiana, the main stock exchange of Italy.- External links :*...
, which covers all Italian shares (and certain foreign ones) listed on the MTA and on the MTAX market.
Other indices include the MIDEX, ALL STARS and the now defunct MIB 30 index.
Listed companies
The following represent a selection of the companies listed on the Borsa, for a full list see :Category:Companies listed on the Borsa Italiana:- A2AA2AA2A S.p.A. is an Italian utility company born out of the merger of two independent Italian companies, AEM of Milan and ASM Brescia at the end of 2007. It is the first Italian operator in the private urban waste sector to work 24 hours for an energy production of 1.5 TWh. It is the third largest...
- Arnoldo Mondadori EditoreArnoldo Mondadori EditoreArnoldo Mondadori Editore is the biggest publishing company in Italy.-History:Founded by the 18-year-old Arnoldo Mondadori in 1907 to publish the magazine titled Luce!, it soon became an important publisher. Its headquarters are in Milan....
- A.S. Roma S.p.A.A.S. RomaAssociazione Sportiva Roma, commonly referred to as simply Roma, is a professional Italian football club based in Rome. Founded by a merger in 1927, Roma have participated in the top-tier of Italian football for all of their existence but one season in the early 50s...
- Atlantia S.p.A.AtlantiaIn Greek mythology, Atlantia or Atlanteia was a Hamadryad nymph and one of the wives of Danaus and by him produced several daughters....
- Autogrill S.p.A.AutogrillAutogrill is an Italian-based, multinational catering and retail company, the world's largest in the travel dining sector, which is controlled with a 59% stake by the Edizione Holding investment vehicle of the Benetton family. Autogrill runs operations in 40 different countries, primarily in Europe...
- Banco PopolareBanco PopolareBanco Popolare is an Italian cooperative bank, formed in 2007 from the merger of Banco Popolare di Verona e Novara and Banca Popolare Italiana . In June 2009 the company became the first Italian bank to receive state aid from the Government of Italy due to the ongoing financial crisis. It sold...
- Benetton Group S.p.A.Benetton GroupBenetton Group S.p.A. is a global luxury fashion brand, based in Treviso, Italy. The name comes from the Benetton family who founded the company in 1965. Benetton Group is listed in Milan....
- BulgariBulgariBulgari is an Italian jeweler and luxury goods retailer which has been owned by the French firm LVMH since October 2011. The trademark is usually written "BVLGARI" in the classical Latin alphabet , and is derived from the surname of the company's Greek founder, Sotirio Voulgaris...
- BremboBremboBrembo S.p.A. is a manufacturer of automotive brake systems, especially for high-performance cars and motorcycles. It was established in Bergamo, Italy in 1961. Soon after the company was formed, it specialised in disc brakes, which were exclusively imported from the United Kingdom at the time...
- Campari Group S.p.A.Campari GroupGruppo Campari is an Italian-based multinational producer of alcoholic and non-alcoholic beverages. The group holds a portfolio of over 40 brands marketed and distributed in more than 190 countries...
- DeLonghi S.p.A.DeLonghiDe'Longhi Group, or De'Longhi S.p.A, is a major European small appliance manufacturer based in Treviso, Italy.- History and trading :...
- Edison S.p.A.Edison S.p.A.Edison S.p.A is the fifth largest energy company in Italy in the field of electricity and natural gas. It produces, imports and sells electric power and hydrocarbons.-History:...
- Enel S.p.A.Enel (energy)Enel S.p.A. is an Italian energy provider, the third-largest in Europe by market capitalization...
- EuteliaEuteliaEutelia is a genus of moths of the Noctuidae family.-Species:* Eutelia adoratrix Staudinger, 1892* Eutelia adulatrix Hübner, 1813* Eutelia discedens Hacker & Fibiger, 2006* Eutelia distorta Hampson, 1912...
- Fastweb S.p.A.
- Fiat S.p.A.FiatFIAT, an acronym for Fabbrica Italiana Automobili Torino , is an Italian automobile manufacturer, engine manufacturer, financial, and industrial group based in Turin in the Italian region of Piedmont. Fiat was founded in 1899 by a group of investors including Giovanni Agnelli...
- Finmeccanica S.p.A.FinmeccanicaFinmeccanica S.p.A. is an Italian conglomerate. Finmeccanica is the second largest industrial group and the largest of the hi-tech industrial groups based in Italy. It works in the fields of defence, aerospace, security, automation, transport and energy...
- Fondiaria-Sai S.p.A.Fondiaria-SaiFondiaria-Sai S.p.A. is an Italian financial services company based in Florence, founded by the merger of Società Assicuratrice Industriale and La Fondiaria Assicurazioni in 2002. The company is particularly active in the insurance sector, where it underwrites life, property, casualty and marine...
- Geox S.p.A.GeoxGeox is an Italian brand of shoe and apparel manufactured utilising waterproof/breathable fabrics.-Corporate history:The company was founded in 1995 by Mario Moretti Polegato. The brand name, Geox, was created from a mixture between the Greek word “geo” , and “x”, a letter-element symbolizing...
- Indesit Company S.p.A.IndesitIndesit Company, an Italian multinational company based in Fabriano, Ancona province, Italy, a leading appliance manufacturer in Europe.- History :...
- Intesa SanpaoloIntesa SanpaoloIntesa Sanpaolo is a banking group resulting from the merger between Banca Intesa and Sanpaolo IMI based in Turin, Italy. It has clear leadership in the Italian market and a minor but growing international presence focused on Central-Eastern Europe, the Middle East and North Africa Intesa Sanpaolo...
- ItalcementiItalcementiItalcementi is an Italian multinational company, quoted on the Borsa Italiana, which produces cement, ready-mix concrete and construction aggregates...
- Juventus F.C. S.p.A.
- Lottomatica S.p.A.LottomaticaLottomatica S.p.A. is an Italian company active in the gaming business. The world's largest operator of lotteries , Lottomatica also provides various other gaming services and related technologies. The company has its offices in Rome. In August 2006, it completed the acquisition of Gtech, a U.S....
- Luxottica Group S.p.A.LuxotticaLuxottica Group S.p.A. is the world's largest eyewear company. Its best known brands include Ray-Ban, Persol and Oakley, Inc.. It also makes sunglasses and prescription frames for a multitude of designer brands such as Chanel and Prada, whose designs and trademarks are used under license...
- MediobancaMediobancaMediobanca is an Italian investment bank founded in 1946 at the initiative of Raffaele Mattioli and Enrico Cuccia to facilitate the post-World War II reconstruction of Italian industry.Enrico Cuccia led Mediobanca from 1946 to 1982...
- Mediolanum S.p.A.
- Olidata S.p.A.OlidataOlidata is an Italian computer system manufacturer. The company was founded in Cesena, Italy in 1982 by Carlo Rossi and Adolfo Savini as a limited liability company . Olidata specializes in software development...
- Parmalat S.p.A.ParmalatParmalat SpA is a multinational Italian dairy and food corporation. Having become the leading global company in the production of ultra high temperature milk, the company collapsed in 2003 with a €14 billion hole in its accounts in what remains Europe's biggest bankruptcy...
- PiaggioPiaggioPiaggio based in Pontedera, Italy encompasses seven brands of scooters, motorcycles and compact commercial vehicles. As the fourth largest producer of scooters and motorcycles in the world, Piaggio produces more than 600,000 vehicles annually, with five research and development centers, more than...
- PininfarinaPininfarinaPininfarina S.p.A. is an Italian car design firm and coachbuilder in Cambiano, Italy.Founded as Società anonima Carrozzeria Pinin Farina in 1930 by automobile designer and builder Battista "Pinin" Farina, Pininfarina has been employed by a wide variety of high-end automobile manufacturers,...
- Prysmian S.p.A.PrysmianPrysmian is an Italian-based multinational corporation headquartered in Milan and listed on the Milan Stock Exchange, manufacturing and laying cables for the energy and telecommunications sectors, it's the market leader, also thanks to the acquisition of Draka Holding...
- Rcs MediaGroupRCS MediaGroupRCS MediaGroup S.p.A. , based in Milan and listed on the Italian Stock Exchange, is an international multimedia publishing group that operates in daily newspapers, magazines and books, radio broadcasting, new media and digital and satellite TV...
- Pirelli & C. S.p.A.PirelliPirelli & C. SpA is a diverse multinational company based in Milan, Italy. The company, the world’s fifth largest tyre manufacturer, is present in over 160 countries, has 20 manufacturing sites around the world and a network of around 10,000 distributors and retailers.Founded in Milan in 1872,...
- Sipem S.p.A.SaipemSaipem S.p.A. is an Italian oil and gas industry contractor. It is a subsidiary of Italian energy company Eni, which owns approximately 43% of Saipem's shares. Saipem has contracted for designing and constructing several pipelines, including Blue Stream, Greenstream, Nord Stream and South...
- Saras Raffinerie Sarde S.p.A.Saras S.p.A.Saras Raffinerie Sarde SpA is an Italian energy provider founded in 1962, operating in the area of oil refining and the production of electricity, located in the island of Sardinia.-History:...
- S.S. Lazio S.p.A.
- STMicroelectronicsSTMicroelectronicsSTMicroelectronics is an Italian-French electronics and semiconductor manufacturer headquartered in Geneva, Switzerland.While STMicroelectronics corporate headquarters and the headquarters for EMEA region are based in Geneva, the holding company, STMicroelectronics N.V. is registered in Amsterdam,...
- Telecom Italia S.p.A.Telecom ItaliaTelecom Italia is the largest Italian telecommunications company, also active in the media and manufacturing industries. Now a private concern listed on the Borsa Italiana, it was founded in 1994 by the merger of several state-owned telecommunications companies, the most important of which was...
- Tiscali S.p.A.Tiscali SpATiscali s.p.a. is an Italian telecommunications company, based in Cagliari, Sardinia, that provides internet and telecommunications services to its domestic market...
- TXT e-solutionsTXT e-solutionsTXT e-solutions is an international software development and consulting company leader in supply chain management and in advanced software systems and services for mission and business critical applications....
- UBI BancaUBI BancaUnione di Banche Italiane S.c.p.A., branded as UBI Banca, is the fifth-largest banking group in Italy by both market capitalisation and number of branches. The firm is primarily a holding company for a number of Italian cooperative banks, although it also controls the publicly-traded online bank...
- UniCreditUniCreditUniCredit SpA is an Italy-based, pan-European banking organization, with aprox 40 million customers and operations in 22 countries.- Geography :...
- Unipol Gruppo Finanziario S.p.A.UnipolUnipol Gruppo Finanziario S.p.A. is an Italian financial services company operating principally in the insurance sector, in which it is the country's fourth-largest firm. Based in Bologna, the company was founded in 1962 as a cooperative provider of non-life insurance...
- Valentino Fashion Group S.p.A.Valentino SpAValentino SpA is a clothing company founded in 1959 by Valentino Garavani. Nowadays it is a part of Valentino Fashion Group. New creative directors Maria Grazia Chiuri and Pier Paolo Piccioli will take Alessandra Facchinetti's seat as creative designer...
See also
- List of stock exchanges
- London Stock ExchangeLondon Stock ExchangeThe London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
- London Stock Exchange Group
- Palazzo MezzanottePalazzo MezzanottePalazzo Mezzanotte , also known as Palazzo delle Borse is a 20th century building of Milan, Italy, and the seat of the Italian stock exchange. It is located in Piazza Affari , the city square after which the Italian stock exchange itself is nicknamed...
External links
- Borsa Italiana MIB30 index methodology
45°27′52"N 9°10′58"E