Appointed Intermediary in Market-listed Funds (ATFund)

Since 2015 Borsa Italiana has enabled open-end fund issuers that comply with the UCITS directive to request admission for listing and trading of specific classes of sub-funds on ATFund.

One of the requirements for admission to listing is the mandatory appointment of an Appointed Intermediary, which negotiates the "imbalance" between buy/sell orders every day on the Stock Market.

Banca Finnat was first accredited, back in 2015 - the date of the “launch” of the trading market for listed funds, then called ETFplus - as an Appointed Intermediary, operating on the ATFund segment on behalf of New Millennium SICAV. Our Bank is therefore not only best placed to carry out this activity, but also the ideal partner for OICR investment funds interested in listing, since it promotes open-end funds such as New Millennium SICAV.

For an Account Manager, the listing of its Funds brings a number of opportunities:

  • strategic opportunities: possibility of accessing a third-party distribution platform, as an alternative to traditional distribution networks and at lower cost;
  • commercial opportunities: greater brand visibility and immediate availability for a broader range of potential investors, without the need to conclude placing agreements.

Banca Finnat currently acts as Appointed Intermediary for the following SICAVs:

  • New Millennium SICAV
  • Pharus SICAV
  • EGI European and Global Investments Ltd
  • Timeo SICAV
  • AQA Capital LTD

The experience gained in the field of Stock Brokerage, the possession of all necessary requirements and a specific focus on services for listed issuers, make Banca Finnat a particularly reliable player when it comes to choosing an Appointed Intermediary.

The value added by choosing Banca Finnat does not lie so much in the efficiency with which it acts as Appointed Intermediary, but rather in the fact that the bank works alongside its clients right from the set-up phase of the project. Banca Finnat has assisted not just New Millennium SICAV but also other Issuers in the listing process.

The Bank has specific expertise unmatched by any other competitor, and which can speed up a Fund's listing process and bring a real competitive advantage.

Banca Finnat supports Issuers intending to be listed by making available the experience it has gained in the finalisation of numerous measures required by Supervisory Authorities (Consob and CSSF) as well as by other players involved in the various processes: Borsa Italiana, Monte Titoli, depository bank, etc. The preparation of operational flows is a particularly critical phase, since it is precisely in this context that the best choices must be made in order to minimise costs, avoid delays, and make operations as smooth as possible once the listing has taken place.

If your bank is interested in this service, please contact us for the necessary technical and commercial agreements:

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Our specialisation in financial services, transparency and confidentiality distinguishes Banca Finnat from conventional banks.