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 2017 

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

• 149 members, mainly banks and brokers, of which 50% are based outside Italy

• CC&G signed contracts to provide CCP hosted solutions to CCP.A. Austria. Casablanca Stock Exchange has also selected CC&G for a CCP development project in 2018

  • Number of equity and derivative contracts cleared 2017: 108.3m
    (2016: 129.6m)
  • Average initial margin held 2017: €11.1bn
    (2016: €12.1bn)
Settlement & Custody and other - 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 2017: 44.6m
    (2016: 43.3m)
  • Monte Titoli’s assets under custody 2017: €3.27tn
    (2016: €3.17tn)