Borsa Italiana () or Borsa di Milano (), based in

Milan Milan ( , , ; ) is a city in northern Italy, regional capital of Lombardy, the largest city in Italy by urban area and the List of cities in Italy, second-most-populous city proper in Italy after Rome. The city proper has a population of nea ...

at Mezzanotte Palace, is the

Italian Italian(s) may refer to: * Anything of, from, or related to the people of Italy over the centuries ** Italians, a Romance ethnic group related to or simply a citizen of the Italian Republic or Italian Kingdom ** Italian language, a Romance languag ...

stock exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for ...

. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies.italy24.ilsole4ore.com,
Borsa Italiana
" Following exchange privatisation in 1997, the Italian Bourse was established and became effective on 2 January 1998.source sense.com,
Borsa Italiana
On 23 June 2007, the Italian Bourse became a subsidiary of the

London Stock Exchange Group London Stock Exchange Group plc, also known as LSEG, is a global provider of financial markets data and infrastructure headquartered in London, England. It owns the London Stock Exchange (on which it is also listed), Refinitiv, LSEG Technol ...

.news.bbc.co.uk,
London Stock Exchange Buys Borsa
This changed on 9 October 2020, when a €4.3 billion deal was agreed between the

and pan-European stock exchange group

Euronext Euronext N.V. (short for European New Exchange Technology) is a European bourse that provides trading and post-trade services for a range of financial instruments. Traded assets include regulated equities, exchange-traded funds (ETF), warrant ...

. Euronext's acquisition of the Italian Bourse was completed on 29 April 2021. It is expected Italian Bourse will be rebranded as Euronext Milan in due course. Borsa Italiana is also informally known as Piazza Affari (), after the city square of Milan where its headquarters (the

Palazzo Mezzanotte Palazzo Mezzanotte, also known as Palazzo delle Borse ("Stock Exchange Palace") is a 20th-century building of Milan, Italy, and the seat of the Italian stock exchange. It is located in Piazza Affari ("Business Square"), the city square after whi ...

building) is located. Borsa Italiana is chaired by Claudia Parzani, and Fabrizio Testa is the CEO. Borsa Italiana is regulated by the

Commissione Nazionale per le Società e la Borsa The Commissione Nazionale per le Società e la Borsa (CONSOB; Italian Companies and Exchange Commission) is the government authority of Italy responsible for regulating the Italian securities market. This includes the regulation of the Italian sto ...

(CONSOB), an agency of the Ministry of Economy and Finance, based in Rome. As of April 2018, overall capitalisation for listed companies on Borsa Italiana was worth €644.3 billion, representing 37.8% of Italian

GDP Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performance o ...

.finanzalternativa.it,

History

The Borsa di commercio di Milano (Milan Stock Exchange) was established by

Eugène de Beauharnais Eugène Rose de Beauharnais (; 3 September 1781 – 21 February 1824) was a French statesman and military officer who served in the French Revolutionary and Napoleonic Wars. Through the second marriage of his mother, Joséphine de Beauharnais, ...

, viceroy of the

Napoleonic Napoleon Bonaparte (born Napoleone di Buonaparte; 15 August 1769 – 5 May 1821), later known by his regnal name Napoleon I, was a French general and statesman who rose to prominence during the French Revolution and led a series of mi ...

Kingdom of Italy The Kingdom of Italy (, ) was a unitary state that existed from 17 March 1861, when Victor Emmanuel II of Kingdom of Sardinia, Sardinia was proclamation of the Kingdom of Italy, proclaimed King of Italy, until 10 June 1946, when the monarchy wa ...

, through decrees dated 16 January and 6 February 1808. It overtook the historically poorly regulated

Borsa di Genova The Genoa Stock Exchange was one of the ten Italian stock exchanges active until 1997, when they were unified into the Italian Stock Exchange. History Although in Genoa stock trading, typically on the Banco di San Giorgio's «places», had bee ...

, later becoming the Italy's main stock exchange after the

Panic of 1907 The Panic of 1907, also known as the 1907 Bankers' Panic or Knickerbocker Crisis, was a financial crisis that took place in the United States over a three-week period starting in mid-October, when the New York Stock Exchange suddenly fell almost ...

. It operated under public ownership until 1998, when it was privatized. In 1997, all the Italian stocks were merged. Before that year, other smaller stocks exchanges were based in

Naples Naples ( ; ; ) is the Regions of Italy, regional capital of Campania and the third-largest city of Italy, after Rome and Milan, with a population of 908,082 within the city's administrative limits as of 2025, while its Metropolitan City of N ...

Turin Turin ( , ; ; , then ) is a city and an important business and cultural centre in northern Italy. It is the capital city of Piedmont and of the Metropolitan City of Turin, and was the first Italian capital from 1861 to 1865. The city is main ...

Trieste Trieste ( , ; ) is a city and seaport in northeastern Italy. It is the capital and largest city of the Regions of Italy#Autonomous regions with special statute, autonomous region of Friuli-Venezia Giulia, as well as of the Province of Trieste, ...

Venice Venice ( ; ; , formerly ) is a city in northeastern Italy and the capital of the Veneto Regions of Italy, region. It is built on a group of 118 islands that are separated by expanses of open water and by canals; portions of the city are li ...

Genoa Genoa ( ; ; ) is a city in and the capital of the Italian region of Liguria, and the sixth-largest city in Italy. As of 2025, 563,947 people live within the city's administrative limits. While its metropolitan city has 818,651 inhabitan ...

Florence Florence ( ; ) is the capital city of the Italy, Italian region of Tuscany. It is also the most populated city in Tuscany, with 362,353 inhabitants, and 989,460 in Metropolitan City of Florence, its metropolitan province as of 2025. Florence ...

Bologna Bologna ( , , ; ; ) is the capital and largest city of the Emilia-Romagna region in northern Italy. It is the List of cities in Italy, seventh most populous city in Italy, with about 400,000 inhabitants and 150 different nationalities. Its M ...

Rome Rome (Italian language, Italian and , ) is the capital city and most populated (municipality) of Italy. It is also the administrative centre of the Lazio Regions of Italy, region and of the Metropolitan City of Rome. A special named with 2, ...

, and

Palermo Palermo ( ; ; , locally also or ) is a city in southern Italy, the capital (political), capital of both the autonomous area, autonomous region of Sicily and the Metropolitan City of Palermo, the city's surrounding metropolitan province. The ...

. In 1991, the electronic exchanges were approved, and in 1994, the market with grids (A, B, C) was abolished. In Milan were also the currencies exchange rates fixing and the commodities fixing. On 1 October 2007, Borsa Italiana was merged with the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

in an all-share takeover, 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.competitionpolicyinternational.com,
EU: LSE and Deutsche Börse officially announce merger
On 18 September 2020, the

entered into exclusive talks to sell the Italian Bourse to

. On 29 April 2021, following the entry of

CDP Equity Cassa Depositi e Prestiti Equity S.p.A. (formerly Fondo Strategico Italiano S.p.A.; FSI S.p.A.) also known as CDP Equity S.p.A., is a majority state-owned Italian sovereign wealth fund established in 2011. Its purpose is to invest in strategic It ...

and

Intesa San Paolo Banca Intesa S.p.A. was an Italian banking group, formed in 1998 by merger of Cassa di Risparmio delle Provincie Lombarde (Cariplo) and Banco Ambrosiano Veneto. The next year, the banking group merged with Banca Commerciale Italiana to become ...

(Italian institutional investors) as shareholders of Euronext, the European group assumed control of the company. Its weight on the total Italian economy is growing: the overall capitalization of listed companies in December 2021 stood at 757 billion (equal to 43.1% of GDP), up by 24.7% compared to 2020.

Operations

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 a fully electronic trading system. Among its leading tasks, Borsa Italiana supervises listed companies, defining rules for admission and listings and supervising transaction activities.borsaitaliana.it,
EU: LSE and Deutsche Börse officially announce merger

Trading hours

The exchange has pre-market sessions from 8 AM to 9 AM, normal trading sessions from 9 am to 5:30 PM and post-market sessions from 6 PM to 8:30 PM on all days of the week except Saturdays, Sundays, and holidays declared by the Exchange in advance. Market Hours, Italian Stock Exchange via Wikinvest

Markets

Major trading markets for Borsa Italiana are: *MTA, the leading equity market, which is devoted to mid and large-size companies. It includes two segments: STAR, for mid-sized firms, and MTA International, on which shares from non-Italian issuers already listed on other European markets are traded;lseg.com,
MTA
" *AIM Italia, which collects stocks by small and medium high-growth companies;lseg.com,
AIM Italia
" *MIV (Market For Investment Vehicles), on which retail and professional investors operates on investment vehicles which have a defined strategic vision;lseg.com,
MIV: Trading
" Borsa Italiana also include markets for derivatives (IDEM),lseg.com,
IDEM Equity
" ETF (ETFPlus) and bonds (MOT).lseg.com,
MOT
"

Indices

Borsa Italiana's main indices are:borsaitaliana.it,
Gli indici
*FTSE Italia All Share *FTSE MIB, a capitalisation-weighted index of 40 of the biggest companies chosen to represent 10 economic sectors, created in 2009strategystocks.co.uk,

*FTSE Italia Mid Cap *FTSE Italia Small Cap *FTSE AIM Italia *AIM Italia Investable

Listed companies

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

References

Notes

External links

* {{authority control 2007 mergers and acquisitions 2021 mergers and acquisitions Economy of Milan Euronext national listing venues Finance in Italy Financial services companies established in 1808 Italian companies established in 1808 Stock exchanges in Italy