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Banks

 

What are the EuroTLX advantages?

 

  • A complete range of financial instruments updated to the needs the retail and institutional investors. The quality is guaranteed by the controls made during the admission phase.
  • Liquidity guaranteed by the presence of at least one Liquidity Provider on each traded instrument. The market microstructure guarantees the solution for the so called “illiquid instruments”.
  • Highly competitive prices, daily measured by the MPI Index.
  • Integrated service of compliance and trading.
  • Reliable, Flexible and with high Performance technology provided by Millennium IT.
  • High number of market members: majority of Italian retail network banks and principal European Banks are connected to the EuroTLX market.
  • Automatic sending of settlement instructions to CSDs, integration with the main software for order collections, Trading WorkStation (BTS).

 

Consob Communication n. 9019104 of March 2, 2009 concerning illiquid instruments: the EuroTLX Solution

EuroTLX has proposed a solution that guarantees that the instruments traded on EuroTLX market can be considered “liquid” according to Consob Communication n. 9019104 of March 2, 2009 concerning illiquid instruments. This solution is based on 3 pillars:

  • The multilateral model with a mixed order & quote driven microstructure allows the competition between all market participants and between a plurality of interests in buy and sell;
  • The compulsory presence of at least one Liquidity Provider on each single financial instrument that guarantees the liquidity by respecting the liquidity duties (minimum quantity and continuity and, in case of certificates and covered warrants, the maximum spread) and by submitting coherent prices;
  • The Market Surveillance Unit controls that the Liquidity Provider respects the liquidity duties and the submission of coherent prices.

With the 2 first pillars the instruments traded on EuroTLX are supposed to be liquid.
With the third pillar, if the Liquidity Provider respects its duties, the instruments can be considered continuously liquid or sufficiently liquid according to Consob Communication.

For further information about EuroTLX solution, please contact us at marketing@eurotlx.com.