Borsa Italiana buys 70% stake in EuroTLX MTF

Source: Borsa Italiana

Borsa Italiana today announces the completion of the acquisition of 70 per cent of the share capital of EuroTLX SIM S.p.A., an Italian company jointly owned by Unicredit and IntesaSanpaolo Group (through Banca IMI S.p.A.), operating a multilateral trading facility in the retail fixed income market.

Each seller is retaining a minority stake of 15%, working with Borsa Italiana as the majority shareholder to expand the business internationally.

The Board of Directors of EuroTLX met today and appointed Massimo Tononi, Chairman of Borsa Italiana, as Chairman of the Board and Pietro Poletto, Head of Fixed Income Markets, London Stock Exchange Group, as the Company's CEO.

As a result of the acquisition, Borsa Italiana extends its offer of fixed income trading services for retail investors. Borsa Italiana also manages the regulated market MOT, ExtraMOT and ExtraMOT PRO for institutional investors.

In the first six months of 2013, 1.8 million trades were executed on EuroTLX, representing a total [notional value traded of 53.5 billion euro (+6% y-o-y) and a daily average of 14,661 trades and 428 million euro countervalue.

Approvals from relevant authorities have been received. 

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