In February 2015, Borsa Italiana launched a new Etf Plus market segment for trading open-ended funds complying with the UCITS Directive, also providing specific trading procedures.
The regulations provide that the UCITS-regulated funds (collective investment schemes) seeking listing must appoint an
Authorised Intermediary tasked with trading in the stock exchange, on a daily basis, the “imbalance” between buy/sell orders.
The market was launched on 24 February 2015 and
Banca Finnat was the first and only Authorised Operator trading in the ETF Plus segment on behalf of the
New Millennium Sicav fund. Therefore, our bank, besides being fully qualified to operate as such, is an ideal partner to collective investment schemes interested in listing, since we ourselves are promoters of open-ended funds like the New Millennium SICAV.
For a manager, listing its Funds entails a set of opportunities:
- Strategic opportunities, including access to a third-party distribution platform, alternative to – and less expensive than – the traditional distribution Networks.
- Business opportunities, enhancing brand visibility, with immediate availability for a much broader base of potential investors, without the need to enter into placement agreements.
Banca Finnat currently acts as Authorised Intermediary for the following Sicav funds:
New Millennium Sicav
| 12 sub-funds |
| Pharus Sicav | 11 sub-funds |
| EGI European and Global Investments Ltd | 9 sub-funds |
Timeo SICAV
| 1 fund
|
QUAESTIO SGR
| 1 fund
|
AQA Capital LTD
| 1 fund
|
Banca Finnat is a particularly reliable player for designation as Authorised Intermediary, thanks to our experience as stock exchange intermediaries and because we possess the necessary requirements for and have a special focus on delivering services to listed issuers.
Not just a technical role. The Added Value of Banca Finnat
- Banca Finnat, building on its experience in listing its own New Millennium Sicav fund, can support Issuers seeking listing, by making available its expertise in finalising the many formalities required by the Supervisory Authorities ( Consob and CSSF) and the other players involved in the process: Borsa Italiana, Monte Titoli, the Depositary Bank, etc..
- The operational flow preparation phase is particularly critical, when expedient decisions need to be taken to minimise costs, prevent delays and then enhance the smoothness of operations after listing.
- Banca Finnat, besides the New Millennium fund has supported other Issuers tackling the listing process: we have built up a specific know-how and developed a true competitive edge, which no other competitor can boast and which enables us to speed up the Fund listing process.
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If your Bank is interested in this service, please contact our unit for the necessary technical and commercial agreements:
istituzionali@finnat.it