Anthilia BIT is only available for institutional investors.
Who are institutional investors?
Institutional investors are private professional clients, public professional clients as well as those who can be treated as institutional clients on request, in accordance with article 6, section 2-quinquies and 2-sexies of TUF.
Private institutional clients are defined in Annex no. 3 of Consob Regulation no. 16190/2007 as those who have experience, knowledge and expertise needed to make conscious decisions and to properly assess the risk they are taking.
The following are rightfully considered institutional clients:
(1) Entities that are required to be authorized or regulated to operate in financial markets, whether Italian or foreign, such as banks, investment firms, other authorized or regulated financial institutions, insurance companies, collective investment bodies and management companies of such bodies, pension funds and management companies of such funds, proprietary traders of goods and derivatives on goods, persons who exclusively act as proprietary traders on financial instrument markets and which adhere indirectly to settlement services, as well as to the clearing guarantee system (locals), other institutional investors and stockbrokers;
(2) ii) Large scale enterprises that meet, at company level, two of the following requirements:
- Total assets: EUR 20,000,000
- Net turnover: EUR 40,000,000
- Equity: EUR 2,000,000
(3) Institutional investors whose core business is investing in financial instruments, including entities active in securitization of assets or other financial transactions.
Clients that meet at least two of the following requirements may be qualified as institutional investors on request:
- Carrying out significant transactions on the reference markets with an average frequency of 10 transaction per quarter in the last four quarters;
- Portfolio value exceeding EUR 500,000 including cash deposits;
- Current or previous employment in the financial sector for at least one year in a professional position for which knowledge of the envisaged transactions or services can be assumed.