Press Releases - BFF Banking Group
News & Media
BFF – the largest independent specialty finance in Italy and a leading player in Europe for the management and non-recourse factoring of trade receivables due from the Public Administrations, for Securities Services, Banking and Corporate Payments – and Hi-Mtf Sim SpA – which organizes and manages Hi-Mtf, a Multilateral Trading Facility that is an alternative market for the trading of financial instruments – are pleased to announce the agreement that allows the settlement of securities transactions on the Hi-Cert market, which is dedicated to Certificates and Covered Warrants.
Thanks to BFF, Hi-MTF will benefit from a new channel to settle securities transactions to the ICSD (International Central Securities Depository) in a faster, integrated and safer way.
Hi-Cert is distinguished by a truly innovative market model, which is a novelty for Italy, and it is based on a price validation mechanism with the aim of increasing the optimization of market risk and to encourage lower spreads that would benefit all users.
More than 200 certificates issued by leading banks, including Fineco and UBS, are already available on Hi-Cert. Today it is possible to operate on Hi-Cert through six primary brokers (Fineco Bank, Banca Akros, Iccrea Banca, Equita Sim, Mediobanca, Banca Generali) and related intermediaries.
Stefano Cuccia, General Manager, Hi-Mtf Sim, said: “We believe that the agreement with an important partner as BFF strengthens the effectiveness of our offer on a strategic asset class – like Certificates and Covered Warrants – for Italian players.”
Enrico Tadiotto, VP Transaction Services, BFF Banking Grupo, said: “Expanding our services into this fast-growing segment highlights BFF’s ability in being a reference partner for its customers, since we are always able to provide innovative and tailored solutions to the market.”