Italy: Italian Financial Transaction Tax: Switzerland and Hong Kong considered as regulated markets

Further to our Custody News from 13 September 2016, we would like to inform you that as a consequence of the enactment of the new white list which was published by the Italian Ministry of Finance, Swiss and Hong Kong exchanges are considered as regulated markets for Italian Financial Transaction Tax (IFTT) purposes. This means that equity and derivative transactions executed on these markets qualify for the halved "on exchange" rate of 0.1%.