Borsa Italiana Derivatives Markets

  • Grasp the opportunity. Trade a market with high potential
    Grasp the opportunity. Trade a market with high potential

IDEM is the derivatives market of Borsa Italiana and is cleared by Cassa di Compensazione e Garanzia (CC&G).

IDEM is among the top European derivatives exchanges, trading around 150,000 contracts daily, corresponding to €3.5bn of value traded. It is based on one of the most liquid equity markets in Europe, with €350bn of market capitalization and 200% turnover velocity.

The IDEM market includes three segments:

  • IDEM Equity segment, where index and single name futures and options are listed
  • IDEX segment on energy commodities, where Italian power futures are listed
  • Agrex segment on agricultural commodities, where Durum Wheat Futures are listed

More than 71 members are directly connected to the market from Italy, United Kingdom, France, The Netherlands, Germany, Austria, Ireland, Sweden, Belgium, Czech Republic and Spain.

IDEM is a hybrid market where members are allowed to enter orders and submit RFQs, while market makers play a relevant role improving market liquidity and the efficiency of price discovery process through their intense quoting activity. More than 20 market making firms displaying bids and offers on a continuous basis or responding to requests for quotes are active on the IDEM market.

Central Counterparty System

Cassa di Compensazione & Garanzia (CC&G) is the central counterparty and guarantees all transactions executed on the market.

  • General Clearing Member:GCM becomes a counterparty of the clearing house for proprietary and/or client and/or Non-Clearing Members’ transactions
  • Individual Clearing Member: ICM becomes a counterparty of the clearing house for proprietary and/or client transactions
  • Non Clearing Member: NCM stipulates an agreement with a GCM so that the latter becomes counterparty of the clearing house for the NCM’s proprietary and/or client transactions. Banks and Investment Firms authorized to provide Investment Services in Italy can become GCM, ICG or NCM, while non financial firms can only become NCM.

CC&G has 3 key financial safeguards in place to ensure all transactions can be guaranteed- a margins system, admission requirements, and Fund and proprietary financial resources.

 

Agricultural derivatives exchange on Borsa Italiana.

 

IDEM market provides members with the best product offering on Italian equity derivatives, appealing to both institutional as well as retail investors.

 

The Energy Commodity Derivatives segment of IDEM.