Financial Services Industry
Industry: Email Alert RSS FeedBorsa Italiana expands its growth market.
Financial News, February, 2004
Byline: Shanny Basar
Borsa Italiana has reaffirmed its faith in the Nuovo Mercato by launching a segment for its growth market despite the closure of other European junior exchangesIn 2002, Deutsche Borse closed the Neuer Markt and the SWX Swiss Exchange shut down its growth segment. Last year, Nasdaq, the US exchange, closed Nasdaq Europe, the former Easdaq exchange.
Luca Lombardo, new markets and initial public offering origination director at Borsa Italiana, said: "The Nuovo Mercato is still alive. Average daily turnover increased by 35% last year and 30% of the trades in the last three months of 2003 had an average size of [euro]50,000 ($64,000), indicating the presence of more institutional investors." Numtel, the Nuovo Mercato index, also rose...
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