Borsa Italiana

Borsa Italiana
Borsa Italiana logo.svg
Palazzo mezzanotte Milan Stock Exchange.jpg
TypeStock exchange
LocationMilan, Italy
Founded1808; 212 years ago (1808)
OwnerLondon Stock Exchange Group
Key peopleAndrea Sironi (Chairman)
Raffaele Jerusalmi (CEO)
No. of listings353
Market capEUR[1] (2017) € billion 2,370.00 ($ billion 2,960.00)
VolumeUS$738 billion
FTSE Italia All-Share
FTSE Italia Mid Cap
FTSE Italia Small Cap
WebsiteOfficial website

Borsa Italiana S.p.A., based in Milan, is Italy's only stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies.[2]

Following exchange privatisation in 1997, the Company was established and became effective since 2 January 1998.[3] It is now a subsidiary of the London Stock Exchange Group plc since 23 June 2007.[4]

In 2015, overall capitalisation for listed company on Borsa Italiana was worth €567.2 billion, representing 34.8% of Italian GDP.[5]

Borsa Italiana is also informally known as Piazza Affari ("Business Square"), after the city square of Milan where its headquarters (the Palazzo Mezzanotte building) is located.

Borsa Italiana is chaired by Andrea Sironi, and Raffaele Jerusalmi is the CEO. They are both directors of the London Stock Exchange Group.[6]

Borsa Italiana is regulated by the Commissione Nazionale per le Società e la Borsa (CONSOB), an agency of the Ministry of Economy and Finance, based in Rome.


The Borsa di commercio di Milano (Milan Stock Exchange) was established by Eugène de Beauharnais, viceroy of the Napoleonic Kingdom of Italy, through decrees dated 16 January and 6 February 1808.[7] It operated under public ownership until 1998, when it was privatized.[8] In 1997, all the Italian stocks were merged. Before of this year other smaller stocks exchanges based in Naples, Turin, Trieste, Venice, Genoa, Florence, Bologna, Rome, and Palermo. In 1991 the electronic exchanges were approved and in 1994 the market with grida (A,B,C) was abolished. In Milan were also the currencies exchange rates fixing and the commodities fixing.[9]

On 1 October 2007, Borsa Italiana was merged with the London Stock Exchange in an all-share takeover,[10] thus becoming part of the London Stock Exchange Group. In March 2016, the London Stock Exchange Group announced the agreement to merge in an all-stock deal with Deutsche Borse, but was subsequently blocked by the EU Competition Regulator.[11]


Borsa Italiana acts as a market management firm operating with autonomy and flexibility. It organises and manages the domestic stock market along with Italian and international brokers through fully electronic trading system. Among its leading tasks, Borsa Italiana supervises listed companies, defining rules for admission and listings and supervising transaction activities.[12]

Trading hours[]

L.O.V.E. sculpture by Maurizio Cattelan in front of Milan Stock Exchange

The exchange has pre-market sessions from 08:00am to 09:00am, normal trading sessions from 09:00am to 05:30pm and post-market sessions from 06:00pm to 08:30pm on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance.[13]


Major trading markets for Borsa Italiana are:

Borsa Italiana also include markets for derivatives (IDEM),[17] ETF (ETFPlus) and bonds (MOT).[18]


Borsa Italiana's main indices are:[19]

Listed companies[]

For a full list see Category:Companies listed on the Borsa Italiana.

See also[]



  1. ^ "Borsa in tempo reale - Listino completo -". Retrieved 4 April 2018.
  2. ^, "Borsa Italiana"
  3. ^ source, "Borsa Italiana"
  4. ^, "London Stock Exchange Buys Borsa"
  5. ^, "2015 Highlights"
  6. ^, "Board"
  7. ^, "History Tour – Borsa Italiana Archived 2012-03-05 at the Wayback Machine"
  8. ^ "Historical Stages". Borsa Italiana.[dead link]
  9. ^ "24 dicembre 1802: viene istituita la Borsa Valori di Roma -". 24 December 2016. Retrieved 4 April 2018.
  10. ^ "I Principali Indici di Borsa Italiana dopo la fusione con la Borsa di Londra". 21 January 2020.
  11. ^, "EU: LSE and Deutsche Börse officially announce merger"
  12. ^, "EU: LSE and Deutsche Börse officially announce merger[permanent dead link]"
  13. ^ Market Hours, Italian Stock Exchange via Wikinvest
  14. ^, "MTA "
  15. ^, "AIM Italia"
  16. ^, "MIV: Trading "
  17. ^, 'IDEM Equity "
  18. ^, "MOT "
  19. ^, "Gli indici"
  20. ^, "Milan Stock Exchange: The Italian Index "

External links[]