E-Mid Sim, the Italian company that manages
Europe’s electronic markets for interbank deposits
and overnight index swaps, has launched its new trading
The upgraded platform, whose development was announced last
October, has been built by List Group, the Pisan markets
software designer. List became a shareholder in e-Mid Sim in
March, alongside the 29 banks that own it. No shareholder owns
more than 5%.
E-Mid was established in Italy in 1990 under the supervision
of the Bank of Italy, which still regulates it. It was
internationalised with the coming of the euro and now has 250
members in 29 countries, including 30 central banks.
It has an automatic settlement service via Target2, which
processes about Eu4.5bn of transactions a day. Another Eu3bn
are traded on the platform but settled outside the automatic
Since February 2009, e-Mid has also managed MIC, the
collateralised interbank market, in collaboration with the Bank
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