As a result of the experience deriving from the implementation of EU Directive 2014/65 (MiFID II), the MTFs' Rules (including AIM Italia Rules) are amended with respect to provisions regulating the duration of the commitment for intermediaries that enter into a market-making agreement.

Intermediaries that carry out market-making activities are required to inform Borsa Italiana of the intention to terminate market making strategies they are carrying out under the market-making agreement; nevertheless, undertakings deriving from this agreement will terminate from the date subsequently communicated to the operator by Borsa Italiana, expunging the terms of minimum duration and notice currently envisaged.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.