The date is approaching android auction 4 billion euros. This is not a new issue, however reopen – For 1.5 billion – ordinary treasury bonds 12 Months With a remaining life of six (due January 12, 2024) and bot A 6 monthsfor €2.5 billion, with a remaining life of five months, will expire on November 30, 2023.
Auction bot
Only government bond operating specialists can participate in the auction, while The saver can buy them at the bank.
Savers can subscribe to bots with a minimum thousand eurosAnd Whereas, regarding the maximum commission amounts applicable to clients through brokers, for 196-day and 153-day bots, the commission cap for both is set to max. by 0.10%.
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How do bot auctions work?
The Bots – explains Mef on Signed – are addresses Short-term which pays off at par, the benefit of which is represented by the difference between the redemption price and the subscription price. Since April 2009, the botnet is being placed across Competitive auctions Where operators’ offers are expressed in terms of yield, not price. Recognized auction brokers can submit Up to five requests – each of at least €1.5 million – indicating the face value of the subscription and the associated yield, with a difference of at least one-thousandth of a percentage point between the five offers. It is entrusted to carry out operations related to the placement of bots Bank of Italy. At the end of the six-monthly and annual robot appointment procedure, prof additional placement Reserved for government bond specialists, in an amount usually equal to 10% of the nominal capital offered at regular auction.
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How to invest in robots
Bots are released with Maturities of less than or equal to one year They are accepted for listing on regulated retail and wholesale markets. With the characteristic of being no-coupon addresses, bots undoubtedly exist Advantages In terms of management, as the financial expenses required for this type of investment are usually less than the nominal value of repayment. Moreover, there is no need to periodically reinvest the inflows received as interest. A must for anyone who wants to buy a bot in the auction reserve quantity Required from a licensed broker during the business day prior to the auction. Since the securities are subject to the dematerialization regime, the amounts subscribed from the bots are represented by accounting entries in favor of the parties owed. the Transparency rules In the government bond offering (decree of January 15, 2015), it capped the commissions that banks could charge their customers to sign up for bots. This percentage cannot exceed the subscribed capital equal to:
Commissions are added to the price charged by brokers to subscribers, which equals weighted average price resulting from the auction. Fee limit reduced or cancelled In some special cases, that is, when they occur rates close to zero or negative. In detail, if the weighted average price generated by auction operations is less than 100but the total sale price (including commission and surrogate tax) is greater than 100,commission amount They are reduced so as to guarantee clients a fee that in no case exceeds 100 EUR for every 100 EUR of subscribed capital. On the other hand, if the weighted average price generated by auction operations is equal to or greater than 100Customers are not charged a subscription fee.
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