ITALY: The New Electronic Market for Interbank Deposits – MTS Depo

Friday April 17 2020

Borsa Italiana has published a notice that MTS SpA, the company that manages the wholesale electronic market for government bonds part of the London Stock Exchange Group, has launched MTS Depo, the new platform for the electronic market for interbank deposits.

MTS Depo allows banks to negotiate liquid funds in full transparency and efficiency on various maturities, from the same day (overnight) to one year. The trading platform provided by SIA SpA, is the platform on which wholesale transactions of government securities are carried out on.

The new functionality, which reinforces MTS’s systemic vocation in providing services to the banking and financial community, completes the range of money market products offered by MTS which includes the liquid repurchase market on European government bonds and the ‘Tri-party repo’.

The new market is governed by the Consolidated Law on Finance (TUF) and supervised by Banca D’Italia. It is the Target2 Ancillary System for the automatic debit and credit of accounts.

The accreditation procedures for new participants (banks) are still ongoing. By summer the new MTS Depo market will be able to operate at full capacity and serve a vast audience of credit institutions.

Click on the above link for further information.