In Italy the major banks, if they do not consider they have the size and range of business to follow either of these courses, must capitalize on their position as shareholders of the organized markets. Thanks to low prices and the quality of its services, Borsa Italiana has a powerful competitive tool at its command.
In addition, it can still benefit from the informational edge deriving from the customary practice, common to all financial marketplaces, of channelling trading in securities, especially in equities, to domestic exchanges. Nevertheless, the spur of growing competition will inevitably make itself felt.