Saturday, May 25, 2024 - 12:32

Bonds

The trading of Bonds and other debt securities are part of the main activities of the Vorvel Market.

The solutions

The solutions are multiple in order to meet different needs:

  • one Market Segment dedicated to the so-called secondary market phase (continuous trading of already issued securities).
    The Segment is divided into Macro-classes, the "BSS" Macro-class includes only the securities whose liquidity is not supported by Liquidity Providers, while for all the other Macro-classes the presence of at least one Liquidity Provider (Market Maker or Specialist) is required;
  • one Segment requires at least one mandatory Market Maker per instrument; the other Segment is characterized by an order driven trading phase that is eventually assisted by the presence of a Specialist;
  • the Placement Service, dedicated to the so-called primary market phase (initial placement of newly issued securities);
  • a Market Segment characterised by a Request For Quote (RFQ) mechanism, mainly dedicated to the execution of higher value trades;
  • a cross section dedicated to ESG securities (the so-called Vorvel ESG Portfolio).

Vorvel also offers the management of bilateral internalisation systems.

What makes us different?

The Vorvel bonds are also distinguished by:

  • very competitive trading and listing fees;
  • a large portfolio of securities;
  • a large number of Issuers who have chosen Vorvel as their main trading venue.

Brokers and Liquidity Providers

Italian investors can trade the financial instruments admitted on Vorvel by ten brokers: Fineco Bank, Banca Akros, Iccrea Banca, Equita Sim, Mediobanca, Banca Generali, Banca Monte dei Paschi, Banca Sella Holding, Intesa Sanpaolo and Banca Cambiano to which are added the related intermediaries. There are five active Liquidity Providers: ICCREA Banca, Banca Sella Holding, Banco BPM, Equita Sim and Banco di Desio e della Brianza.