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About Us

As result of the merger transaction which will incorporate EuroTLX SIM S.p.A. into Borsa Italiana S.p.A., effective as of the 1st January 2020 the organization and management of the EuroTLX market will be carried out by Borsa Italiana.

 

Mission

A European MTF for the trading of fixed income securities and investment products in micro and odd lot.

Strategic development is aimed at achieving the following targets:

  • Keeping the focus on trading of fixed income securities for the micro and odd lot segment;
  • Consolidating the role on the domestic market;
  • Strengthen the role as European platform;
  • Increasing liquidity and the number of financial instruments.

History

  • TLX is launched as an SSO of UniCredit Group in January 2000
  • January 2003: TLX SpA becomes manager of the TLX market
  • Since October 20, 2003, TLX SpA manages TLX (the Regulated Exchange) and EuroTLX (MTF)
  • Q4 2006: Banca IMI becomes partner of TLX SpA
  • February 12, 2007: Banca IMI starts to operate as Market Maker
  • February 26, 2007: the ECB acknowledges EuroTLX as a “Non-regulated market acceptable by the ECB for collateral management purposes”
  • November 1, 2007: with the start of MiFID, as by Art. 19 comma 12 of the Legislative Decree Nr. 164/07, EuroTLX officially becomes a Multilateral Trading Facility (MTF)
  • April 1, 2008: Banca Popolare di Vicenza is the first Specialist to operate on own “branded” bonds
  • August 12, 2009: Morgan Stanley first foreign Specialist
  • October, 28 2009: BNL – BNP Paribas Group becomes the first Market Maker that is not a shareholder
  • December 15, 2009: CONSOB authorizes the management of multilateral trading facility and the closing of the regulated market TLX
  • January 1, 2010: TLX Spa changes its legal name in EuroTLX SIM Spa and closes the regulated market maintaining only the MTF
  • May 27, 2011: UBS first foreign Broker
  • June 13, 2011: introduction of Central Clearing Counterparty for domestic securities
  • November 28, 2011: during the BTP Day, trades executed are more than 53,600, for a turnover of 1.2 billion euro
  • December 28, 2012: For the first time, the total agency flow of non-members exceeds that of the two shareholders. Record of monthly turnover (12.1 billion euro) registered in October
  • September 24, 2013: Borsa Italiana acquires 70% of the share capital of EuroTLX SIM S.p.A. Unicredit and Banca IMI retain a minority stake of 15% for each bank
  • On July 21st EuroTLX trading platform has been migrated on Millennium IT that is the same platform in use for the markets managed by the Italian Stock Exchange and the London Stock Exchange;
  • November 2016: Release of new Request for Quote functionality for trading size larger than size typically traded on Central Limit Order Book.
  • July 2017: TradeGate is the second Market Maker admitted on EuroTLX Equity segment. Liquidity and the product offer is increased with more than 350 equities
  • December, 11th 2017 Release of new EuroTLXQuote segment. EuroTLXQuote is the new EuroTLX market segment that allows market participants to trade on Request for Quote basis. Fixed income financial instruments will be admitted  by market initiative only without any quotation duty.
  • May, 21st 2019 Borsa Italiana acquires 100% of the share of EuroTLX SIM S.p.A