Post Trade - CC&G and Monte Titoli

Offers efficient clearing, settlement and custody services for cash equity, derivative, commodity and fixed income markets, mostly in Italy.

Income contribution CY 2016 

Sub-segment Main types of revenue Customer profile Highlights KPIs
Clearing - CC&G

• Fees based on trades or contracts cleared 
and Central Counterparty (CCP) services provided


• Net interest on cash and securities held for margin
and default funds

• 158 members, mainly banks and brokers, over 40% of which are based outside Italy
• Clearing of equity and derivatives volumes increased by 8%
  • Number of equity and derivative contracts cleared 2016: 129.6m
    (2015: 120.1m)
  • Average initial margin held 2016: €12.1bn
    (2015: €12.3bn)
Settlement & Custody - Monte Titoli

• Revenue mostly from the settlement of equity and fixed income trades


• Custody fees are charged on the issuance of an equity or fixed income instrument, when dividend and interest payments are made and on any corporate action

• Wide range of Italian and international banks and brokers for both on market and OTC trades. Issuers of equity and fixed income products (Italian and international)
• Settlement rate of 97% of trades
 
  • Settlement instructions handled 2016: 43.3m
    (2015: 60.3m)
  • Monte Titoli’s assets under custody 2016: €3.17tn
    (2015: €3.31tn)