Trading online consob
See also Online Trading definition. Online trading is a digitized trading of financial instruments stocksbondsfuturesetc These companies provide the customer a digital platform that, thanks to the Internet, allows you to view, buy and sell financial instruments in a short time. The feature of this service is in the remote operation, allowing trading online consob investor to give orders trading online consob the intermediary through a connection with the trading online consob site.
The online trading trading online consob developed in the Italian market in the nineties and has mainly success to the speed of orders transmission, to the almost total elimination of the error risk in their transposition trading online consob especially to the containment of trading commissions.
In born the first trading platforms in Italy, following the rapid expansion of the phenomenon, thanks to the gradual spread of the Internet, the Consob in establish it and regulate it with Consob Regulation no.
The spread of the Internet also promoted the role of alternative trading platforms, like Alternative Trading Systems ATS or Electronic Communication Networks ECNused by institutional and professional investors and generally can not be used by trading online consob investors.
These systems, in fact, provide access to trading without going through intermediaries. Among the applicable legislation, the Legislative Decree 24 Trading online consob n. The last source of law, in hierarchical order, is the Consob communication, whose last is the n. Within the overall framework of the regulation applicable to online trading, we can identify some key areas that regulate the start-up phase of the relationship with the investor: Qualified entities to trading: Authorized intermediaries to negotiation of trade online are listed by 'art.
The stipulation via Internet is allowed only in case of use of digital signatures for as established by law. Therefore, the contract agreement will be via the Internet only if it is effectively realizable the digital signature as provided by the d. In contrast, the operator must obtain, at least for the investment contract, the written traditional document. The same applies to any other statement negotiating. Customer identification for the purpose of anti-money laundering measures: For this reason, the service provider often use, as permitted by law, the faculty of indirect identification thanks to the obtaining appropriate certification by other intermediary, usually a bank, to heed the funds transfer.
It is compatible with the rules in place, the option to make available through the website the document on the general risks of investing in financial instruments, which trading online consob be delivered to the investor before provision of trading online consob services and accessories these connected.
The intermediary must still acquire technical and operational procedures that allow them to acquire and retain appropriate certificate of "delivery" of the document. Trading online consob, intermediaries must operate in such a way that customers "are kept adequately informed" Art. B of the Decree. A of the Decree. Information to be acquired by customers: The current rules do not means the specific procedures and methods of acquiring information on the investor; the definition of such procedures and methods is based on the operators discretion.
With regard to the phase of execution online investment services for third parties and for transmit orders: Trading online consob any case it is necessary that the intermediary predisposes appropriate procedures and resources to deal with any "falls" even temporary of trading online consob automated system, with tools to enable customers to trading online consob the operation.
Information on the nature and risks of the operations, trading online consob the significant losses: This rule requires the intermediary to assess the adequacy of the operation compared to the profile of the investor, preparing and activating specific procedures, to consider operation characteristics in relation to the customer profile. In case of receiving provisions for a inadequate operation, a duty to report to the customer the inadequacy applies even when the service is provided online paragraph 3 of article.
The information about the existence of the conflict of interest provided by the intermediary can also provided via the Internet. Similarly, via the Internet, the customer can possibly agree to the operation despite the existence of a conflict of interestif the technical operational procedure of the intermediary is structured in a way that requires at the investor a demonstration of effective and informed consent.
Declaration of trading online consob, and reporting: Relationships with supervisory authorities: User name Password Remember me Forgot your password? Features and Regulation The online trading has developed in the Italian market in the nineties and has mainly success to the speed of orders transmission, to the almost total elimination of the error risk in their transposition and especially to the containment of trading commissions.