A criminal activity consisting of disclosing false, exaggerated or biased information or conducting simulated operations in order to provoke an increase or a decrease in the price of financial instruments or securities, or to create the appearance of market activity involving such instruments in order to profit from it

An index represented by the prices of the 30 most frequently traded securities on the MTA (see MTA), the socalled blue chips (see Blue chip ). The index composition is reviewed periodically

General stock index of the MTA (see MTA), the largest market of the Italian Stock Exchange

The index representing the quotations of thirty shares of medium capitalisation and liquidity traded on the MTA (see MTA). This index composition is also reviewed at least once a semester

(Mercato Telematico Azionario - Telematic Stock Market) The main market of the Italian Stock Exchange, conducting transactions involving shares, convertible bonds, warrants, covered warrants, option rights and quotas of closed securities and real estate funds quoted in the official listing

Financial intermediaries that collect savings from the public to invest them in shares, bonds or public debt securities. Securities and liquidities are owned together by all the participants holding shares in the fund: the value of each share is given by the market value of the whole portfolio, divided by the number of shares

In terms of corporate valuations, the book value of a company's different call of securities assets less liabilities. In the context of mutual funds, the total value of the fund's portfolio less liabilities. The NAV is usually calculated on a daily basis is usually below the market price because the current value of the fund's assets are higher than the historical financial statements used in the NAV calculation.

Market intended for trading ordinary shares of national and foreign issuers presenting a high growth potential, managed by the Borsa Italiana SpA. It mostly includes small and medium-sized companies operating in dynamic sectors with highly innovative processes and products

This is the average price of a security, weighted according to the total amount of shares exchanged during a given Stock Exchange day. Unlike the reference price (see below), the official price therefore reflects the trend during the whole session

(Offerta Pubblica di Acquisto) A public offer to buy shares in a specific company (see Takeover )

A contract according to which a party acquires the right to buy (call option) or sell (put option) a financial security at a given price (strike price), within a certain date (American option) or at a specific point in the future (European option)