Regulated Markets

The organization and operation of regulated markets for financial instruments is carried out by limited companies known as market management companies.

The operation of regulated markets has to be authorized by Consob.

Authorized Italian markets are entered in a list kept by Consob (Articles 64-quater.1 and 64-quter.2 of Legislative Decree 58/1998).

Foreign markets recognized under Community law are entered in a special list kept by ESMA (Article 56 of Directive 2014/65 / EU). Following the entry into force of Directive 2014/65 / EU (MiFID II), the updated list is available on the ESMA website at the following address: https://registers.esma.europa.eu/publication/searchRegister?core=esma_registers_upreg

Foreign markets other than those referred to above may be recognized by Consob under agreements concluded with its counterparts abroad (Articles 70.1 and 70.2 of Legislative Decree 58/1998).


The list of both Italian and EU regulated markets is part of "registers and lists" section of Consob's bulletin, available on line as set up by Resolution nr. 15695 of 20 December, 2006.