CFCL Market guide – Italy

Clearstream Fund Centre (“CFCL”) Market Guides provide key information, in particular in the area of order routing, settlement and asset servicing, on each market where CFCL offers a service. In addition, relevant website addresses are indicated, where more detailed information is provided according to specific needs.

Italy market guide is split into 5 sections:

General information;
Market infrastructure;
Regulation;
Settlement process and services;
Asset servicing.

Further information can be found in the CFCL Client Handbook and in the Italy Tax guide.

Characteristics of the market

• For investment fund securities, Italy is a CSD Market and a Register market;
• Exchange-Traded Funds (ETFs) are permitted and can be traded within the Italian market.
• Italy has adopted the T2S platform for its settlement processes, this initiative helps align Italy with the broader European effort to harmonize and streamline securities settlement procedures.