Borsa Italian has added two new functions to its Bit Club Service, the online platform for communication between the exchange and its clients.
With effect from 7 November 2005, a new BFM service enables the reporting of 'blocks' and 'off-market transactions' as specified by article 11 of the CONSOB Market Rules (regulation no.11768), to be handled quickly and securely online replacing current fax communication.
The BFM service is available as an alternative reporting tool for Borsa Italiana market members as their market access platforms already offer reporting functions). For intermediaries who are not market members, the BFM service replaces the previous fax service as the sole reporting channel.
Access to the service is controlled by userID and password (allocated by Borsa Italiana to intermediaries with the relevant subscription contract), which will enable the entry of single or multiple reporting functions and enquiries regarding the historical database containing all the off-market transactions.
In addition, The Bit Club Service also now includes a tool allowing members to directly display and download their own market share data. Access to this function will be available via the members' are of Bit Club, controlled by userID and password allocated directly by the client, who will be able to select the internal users and the markets for which each user is authorised to display market share.
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