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Internalization, SSO and MiFID MTF

The problem of internalisation for former SSO small at the time is coming "crucial" in the March 31, 2008 deadline for the extension of the old regime, and after that date they will have to decide whether to become internalisers SSO to all effects (by request before that date to CONSOB) or to engage in this activity in the account properties.

The answer, after extensive consultation, the guidelines made the greatest freedom of choice provided you do not decrease the "degree" of transparency that such structures had with the "old" legislation. The aim is to ensure a continuity for retail customers to conduct such negotiations in view securities (for the most "branded").