Disclosure requirements for ETF issuers

Borsa Italiana requires, as set out in article 2.6.2 paragraph 5 of the Rules, that issuers having instruments ETFs listed on the ETFplus market make available to Borsa Italiana the following information:

1. the net asset value (NAV) of the ETF;
2. the number of units/shares outstanding;
3. the value of the reference index of the ETF where this is not otherwise available to Borsa Italiana.
4. where provided for by the ETF, the level of protection, the level of guarantee, the value of the multiple and the value of the cushion.
5. the indicative net asset value (iNAV) of each listed open-end fund.

The manner of fulfilling disclosure requirements and the channels used by issuers of units/shares of ETFs to comply disclosure requirements provided by Borsa Italiana Market Rules are set out in the Instructions where it is specified that:

• a) the value of the share/unit (NAV);
• b) the number of units/shares outstanding.