CC&G And Clearnet To Provide Central Counterparty Services For Italian Government Securities Traded On The MTS Platform

MTS S.p.A., Cassa di Compensazione e Garanzia S.p.A. (CC&G) and Clearnet yesterday signed an agreement at the Ministry of the Economy and Finance in Rome, paving the way for the establishment of a central counterparty service to allow transactions on Italian government bonds to be executed on MTS S.p.A. on an anonymous basis and guaranteed by a central clearing institution.

Following the signature of this agreement, the three parties will set up a working committee responsible for identifying the technical requirements that will lead to the implementation of this milestone development. Primary Dealers active in MTS S.p.A., who will take part in the Clearing Committee that will be established in due course, will be consulted during this process.

Volumes on MTS S.p.A. in 2001 have totalled €2.3 trillion while repo volumes have reached €7.05 trillion in the same year.