DEFINITION of 'Milan Stock Exchange (MIL) .MI'
Italy's primary securities market, the Milan Stock Exchange (in Italian, Borsa Italiana) traces its origins to the 1808 establishment of Milan's Borsa di Commercio (commodities exchange). The first company share was listed in 1859, and banking and railway companies joined the exchange in the 1870s. Electronic trading became fully operational in 1994, and the Exchange became privatized in 1998.
BREAKING DOWN 'Milan Stock Exchange (MIL) .MI'
In 2007, the Milan Stock Exchange merged with the London Stock Exchange to create one of the largest exchange groups in Europe, comparable in the number of listed companies (around 3,400 in 2008) to the BME Spanish Exchanges. Its main indexes are the capitalization-weighted S&P/MIB, which includes the index's 40 biggest companies over 10 sectors, and the MIBTEL.