Tuesday, February 27, 2024 - 23:29

Certificates and Covered Warrants

The negotiation of Certificates and Covered Warrants is the main activity of the Vorvel Market, from which our path of innovation started.

The solutions offered are among the most modern on the international scenario and are not reflected in other existing Italian markets. 

What makes us different?

Vorvel has been the first Italian market to introduce:

  • A market model based on a price validation mechanism called "Request for Execution" whose goal is to improve the quality of pricing and reducing spreads compared to traditional market models.
  • The extension of trading hours from 8:00 a.m. to 11:00 p.m.
  • Certificates with underlying USA assets and commodities tradable throughout the entire opening hours of the American markets.

Vorvel also offers:

  • the most competitive fees in the Italian market.
  • fully automated listing processes that guarantee T+1 trading.
  • post-trading solutions that minimize the associated settlement costs.

Brokers and Market Makers

On Vorvel leveraged and Investment Certificates of seven Issuers are traded. The Issuers are: Fineco Bank, Banco BPM, UBS, Leonteq, Intesa Sanpaolo, Sociètè Gènèrale and Mediobanca

Italian investors can trade the financial instruments admitted on Vorvel Certificates by eight brokers: Fineco Bank, Banca Akros, Equita Sim, Iccrea Banca, Banca Generali, Mediobanca, Banca Cambiano, Banca Sella Holding to which are connected many other intermediaries.

Four Market Makers (called "Specialist") are already active: Fineco Bank, Banco BPM, Equita Sim and Mediobanca