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