APCOM

In 2008 the Milan Stock Exchange celebrates its 200th year of history. Celebrations began today, with an important event held at Mezzanotte palace. President Giorgio Napolitano and Premier Romano Prodi took part at the event.

There has to be a strong impulse from our end as well, to counteract market instability", said Napolitano. "We have traced the milestones in the development of this institution, which is a great national heritage. Now it is time to set out on the "long road" and to counteract the phenomena affecting productive activities".

The Milano Merchandise Exchange was formed by decree, issued by the Viceroy Eugène Napoléon, son of Joséphine de Beauharnais, on January 16th 1808, ordering that it be opened within a month.

Throughout two centuries of continuous operation, the Stock Exchange has been a faithful mirror of the economic and financial life of the country, reflecting its most important events; moving from sudden strong growth to crisis, from the public to the private sphere, from local to national markets, until it debuted on the international scene.

Two other milestones in the history of the Italian stock market are also being celebrated in 2008. The first is the 10th year of Borsa Italiana SpA, formed in 1998 through the privatisation of Italy's stock markets. During its first ten years, Borsa Italiana has gone from a single market management company to a diversified group in the financial service field. The group has been formed from the year 2000 to today through the acquisition of already existing companies and the formation of new ones. The other event is the 30th birthday of Monte Titoli, the central depositary for all financial instruments regulated by Italian law.

In October, Borsa Italiana will host the 48th GeneralAssembly and Annual Meeting of Wfe (World Federation of Exchanges), which Milano Stock Exchange chairs in 2007 and 2008. The event, which will symbolically close the celebrations for the bicentenary, will reunite the top management of the 54 Exchanges members of the Wfe and representatives of international finance.