Pubblications

The Association, through appropriate means of communication, spread information and news relating to the technical operation of the markets.

Auction BOT

BOT- END OF MONTH AUCTION

Settlement  30/06/2020 184 days  
Average price
100.115
 

 

Withholding tax 12.5%
0.00000
 

Rounding
0.00500


Net allotment price 100.120

 

Net yield -0.235

Net compund price
Gross yield
Gross compund price                                                 

-0.234

-0.225
-0.225

 

 

 


In case of maximum commissions, prices and yields change as follows: 
Maximun commissions
0.10


Net allotment price + commissions (maximum) 100.220

Yield (minimum) 0.000

Net compound yield (minimum) 0.000
 

 
Government securities have been allocated to public subjects at an auction average price plus taxes calculated on fiscal prices, subject to different commissions according to BOT duration: maximum 0,05% for BOT duration equal to or less than 80 days, 0,10 for BOT duration between 81 and 170 days, 0,20% for BOT duration equal to or more than 331 days. *The Ministry of Treasury decree of 12th February 2004. If the total sale price , comprehensive of the withholding tax and commission as per previous sub-section, is more than 100, the maximum amount of such commission is reduced in order to guarantee a cost lower that 100 euro, for each 100 euro of subscribed capital . Art. 2 of the Ministry of Treasury decree of 12th February, sub-section 2 bis.

BOT - HALF MONTH AUCTION

Settlement 12/06/2020   367 days

Average price 99.986
 

 

withholding tax 12.5% 0.00175
 

Rounding 0.00225
 

Net knockdown price 99.990

 

Net yield 0.010

Net compound yield

Gross yield

Gross compound yield

0.010

0.014

0.014

 

 

 


In case of maximum commissions, prices and yields change as follows:
Maximum commission 0.15

Net assignment price + commissions (max) 100.140

Yield (minimum)
0.000

Net compund yield (minimum) 0.000
 

 
* Flexible BOT
 

Assiom reminds that , according to the “Transparency Decree” – issued last October, which modifies the previous MEF decree of 12th February 2004 – the total sale price of BOT subscribed by clients during the auction (including the withholding tax and commission required by brokers) cannot be more than 100. Such rule will therefore avoid any negative yield, possibly coming from the high request, partially due to the Monetary Funds and partially to the bank clients who remain suspicious, thus showing small confidence towards alternative investments with a high risk/yield profile.

Government securities have been allocated to public subjects at an auction average price plus taxes calculated on fiscal prices, subject to different commissions according to BOT duration: maximum 0,05% for BOT duration equal to or less than 80 days, 0,10 for BOT duration between 81 and 170 days, 0,20% for BOT duration equal to or more than 331 days - the Ministry of Treasury decree of 12th February 2004. If the total sale price , comprehensive of the withholding tax and commission as per previous sub-section, is more than 100, the maximum amount of such commission is reduced in order to guarantee a cost lower that 100 euro, for each 100 euro of subscribed capital . Art. 2 of the Ministry of Treasury decree of 12th February, sub-section 2 bis.

Where we are