Products of Stock Market
in Italy
A Presentation by Akash Paul Lakra
766 BBA(Hons.)LLB(Hons.)
National Law University, Jod...
Understanding The
Italian Stock
Exchange
Knowing the Different
Indices in The Stock
Market
Understanding Present
Situation...
The Borsa Italiana S.p.A based in Milan, is Italy's main stock exchange
The Borsa Italiana S.p.A is responsible for the or...
Oversee transaction activities
Define the rules and procedures for
admission and listing on the market
for issuing compani...
Different
Indices
All Share
FTSE MIB
Mid Cap
STARSmall Cap
Micro Cap
Sectorial
industry
and super-
sector
The FTSE All-Share Index, originally known as the FTSE Actuaries All Share Index, is a
capitalisation-weighted index, comp...
The FTSE MIB (Milano Italia Borsa) (the S&P/MIB prior to June 2009) is the benchmark
stock market index for the Borsa Ital...
A company with a market capitalization between $2 and $10 billion, which is calculated by
multiplying the number of a comp...
STAR is the market segment of Borsa Italiana’s equity market (MTA) dedicated to midsize
companies with a capitalization of...
Refers to stocks with a relatively small market capitalization. The definition of small cap can
vary among brokerages, but...
Micro-cap companies have greater market capitalization than Nano caps, and less than
small, mid, large and mega-cap corpor...
Italy Stock Market (FTSE MIB), declined 0 points or 0.00 per cent during the last 30 days.
From 1997 until 2013, Italy Sto...
Current Status
Statistics taken from Trading Economics, http://www.tradingeconomics.com/italy/stock-market
Italy has become the first country to introduce a tax on high-frequency trading in a move that
has become a test case for ...
For high-frequency traders, order changes and cancellations will be taxed at 0.02 per cent
when they occur within a timefr...
Grazie
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Products of stock market in italy

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Products of Stock Market in Italy
Discusses the Italian Stock Market and the various stock indices

Published in: Business, Economy & Finance
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Products of stock market in italy

  1. 1. Products of Stock Market in Italy A Presentation by Akash Paul Lakra 766 BBA(Hons.)LLB(Hons.) National Law University, Jodhpur
  2. 2. Understanding The Italian Stock Exchange Knowing the Different Indices in The Stock Market Understanding Present Situation in the Italian Stock Market Overview of the Presentation
  3. 3. The Borsa Italiana S.p.A based in Milan, is Italy's main stock exchange The Borsa Italiana S.p.A is responsible for the organisation and management of the Italian stock exchange. The Company, founded in 1997 following the privatisation of the exchange, has been operational since January 2nd, 1998 Borsa Italiana is now part of London Stock Exchange Group, following the merger effective October 1, 2007. Borsa Italiana organises and manages the Italian stock market with the participation of domestic and international brokers who operate in Italy or from abroad through remote membership, using a fully electronic trading system for the real-time execution of trades.
  4. 4. Oversee transaction activities Define the rules and procedures for admission and listing on the market for issuing companies Define the rules and procedures for admission for intermediaries Supervise listed companies' disclosure. Main responsibilities of Borsa Italiana Borsa Italiana's primary objective Is to ensure the development of its markets, maximising their liquidity, transparency and competitiveness while pursuing high levels of efficiency.
  5. 5. Different Indices All Share FTSE MIB Mid Cap STARSmall Cap Micro Cap Sectorial industry and super- sector
  6. 6. The FTSE All-Share Index, originally known as the FTSE Actuaries All Share Index, is a capitalisation-weighted index, comprising around 1000 of more than 2,000 companies traded on the London Stock Exchange. To qualify, companies must have a full listing on the London Stock Exchange with a Sterling or Euro denominated price on SETS or SETSmm or a firm quotation on SEAQ or SEATS, and must meet a number of other eligibility requirements. FTSE All-Share is the aggregation of the FTSE 100 Index, FTSE 250 Index and FTSE SmallCap Index. FTSE All-Share Index
  7. 7. The FTSE MIB (Milano Italia Borsa) (the S&P/MIB prior to June 2009) is the benchmark stock market index for the Borsa Italiana, the Italian national stock exchange, which superseded the MIB-30 in September 2004. The index consists of the 40 most-traded stock classes on the exchange. The index was administered by Standard & Poor's from its inception until June 2009, when this responsibility was passed to FTSE Group, which is 100% owned by the Borsa Italiana's parent company London Stock Exchange Group. The FTSE MIB
  8. 8. A company with a market capitalization between $2 and $10 billion, which is calculated by multiplying the number of a company's shares outstanding by its stock price. Mid cap is an abbreviation for the term "middle capitalization". As the name implies, a mid cap company is in the middle of the pack between large cap and small cap companies. Mid Cap
  9. 9. STAR is the market segment of Borsa Italiana’s equity market (MTA) dedicated to midsize companies with a capitalization of less than 1 billion euros, which voluntarily adhere to and comply with the above strict requirements. STAR High transparency and high disclosure requirements High liquidity (free float of minimum 35% ) Corporate Governance in line with international standards
  10. 10. Refers to stocks with a relatively small market capitalization. The definition of small cap can vary among brokerages, but generally it is a company with a market capitalization of between $300 million and $2 billion. Small Cap
  11. 11. Micro-cap companies have greater market capitalization than Nano caps, and less than small, mid, large and mega-cap corporations. Companies with larger market capitalization do not automatically have stock prices that are higher than those companies with smaller market capitalizations. Generally, the larger the market capitalization, the less risky the investment and smaller the potential returns. The smaller the market capitalization, the riskier the investment and the greater the potential returns. Micro Cap
  12. 12. Italy Stock Market (FTSE MIB), declined 0 points or 0.00 per cent during the last 30 days. From 1997 until 2013, Italy Stock Market (FTSE MIB) averaged 29140 Index points reaching an all time high of 50109 Index points in March of 2000 and a record low of 12363 Index points in July of 2012. The FTSE MIB (Milano Italia Borsa) Index is a major stock market index which tracks the performance of 40 leading and most liquid and companies listed on the Borsa Italiana. It is a free floating, capitalization-weighted index. The base value of the FTSE MIB Index was set at the level of the MIB 30 Index at the close of trading on October 31, 2003 at 10644 points. Current Status
  13. 13. Current Status Statistics taken from Trading Economics, http://www.tradingeconomics.com/italy/stock-market
  14. 14. Italy has become the first country to introduce a tax on high-frequency trading in a move that has become a test case for potential further crackdowns on the controversial practice. The country will introduce levies against high-speed trading and equity derivatives in the final part of a two-stage process established this year to tax equity-related transactions. The Italian version explicitly focuses on high-frequency trading and derivatives, which are often used by corporations and banks to hedge against risk. The tax will also apply regardless of where the transaction is executed, or the country of residence of the counterparty. For high-frequency traders, order changes and cancellations will be taxed at 0.02 per cent when they occur within a timeframe shorter than half a second, once above a threshold. There will be fixed charges for equity derivatives, depending on the type of contract, and deals executed off-exchange will subject to a higher tax band. Intermediaries such as market makers are exempt from the tax. Tax on high-speed trade and equity derivatives
  15. 15. For high-frequency traders, order changes and cancellations will be taxed at 0.02 per cent when they occur within a timeframe shorter than half a second, once above a threshold. There will be fixed charges for equity derivatives, depending on the type of contract, and deals executed off-exchange will subject to a higher tax band. Intermediaries such as market makers are exempt from the tax. Tax on high-speed trade and equity derivatives
  16. 16. Grazie
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