Money-market deposits in euros, dollars, sterling and Polish zlotys are traded on the e-MID market operated by e-MID S.p.A. The available maturities range from overnight to one year.
Italian and foreign banks and investment firms participate in the market, including by remote procedures. Orders can be entered into the trading system by all participants and are binding vis-à-vis other participants. Trades are concluded within the limits of the credit lined agreed directly between participants on a bilateral basis.
Contracts are automatically settled through the TARGET2 system. In September 2000 e-MID S.p.A. launched the e-MIDER electronic market for trading overnight index swaps on Eonia.