# AIM Italia - Mercato Alternativo Del Capitale

> Multilateral trading facility - merge of AIM Italia and MAC

**Wikidata**: [Q107188874](https://www.wikidata.org/wiki/Q107188874)  
**Source**: https://4ort.xyz/entity/aim-italia-mercato-alternativo-del-capitale

## Summary  
AIM Italia - Mercato Alternativo Del Capitale is a multilateral trading facility (MTF) resulting from the merger of AIM Italia and MAC, operated by the Italian Stock Exchange (Borsa Italiana S.p.A.). Headquartered in Milan, it serves as an alternative market for trading securities, supporting small and medium-sized enterprises (SMEs) and growth companies.  

## Key Facts  
- **Aliases**: XAIM, BORSA ITALIANA S.P.A.  
- **Country**: Italy.  
- **Website**: https://www.borsaitaliana.it (qualified as "Italian").  
- **Parent Organization**: Italian Stock Exchange.  
- **Instance Of**: Stock market and stock exchange.  
- **Headquarters**: Milan.  
- **MIC Market Codes**:  
  - XAIM (valid from 2012-04-23 to 2021-10-25).  
  - ITSM (valid from 2003-04-01 to 2012-04-23).  
- **Wikidata Description**: "Multilateral trading facility - merge of AIM Italia and MAC."  

## FAQs  
- **What is AIM Italia - Mercato Alternativo Del Capitale?**  
  It is a merged multilateral trading facility operated by the Italian Stock Exchange, combining AIM Italia and MAC to provide an alternative securities market.  

- **What is the purpose of AIM Italia?**  
  It facilitates trading for SMEs, growth companies, and specialized securities, offering a flexible alternative to traditional stock markets.  

- **Where is AIM Italia based?**  
  It is headquartered in Milan, Italy, under the oversight of Borsa Italiana S.p.A.  

- **What is the history of AIM Italia?**  
  It originated from the merger of AIM Italia and MAC, with historical MIC codes reflecting its evolution (ITSM until 2012, then XAIM until 2021).  

- **How is AIM Italia classified?**  
  It is categorized as both a stock market and stock exchange, functioning as an MTF under Italian financial regulations.  

## Why It Matters  
AIM Italia plays a critical role in Italy’s financial ecosystem by providing SMEs and growth-oriented companies with access to capital markets. It fosters economic growth by bridging the gap between traditional exchanges and alternative investment opportunities, enhancing liquidity and flexibility for issuers and investors. As a regulated MTF, it ensures transparency and operational integrity while supporting innovation and entrepreneurship in Italy.  

## Notable For  
- **Merger Origin**: Unique structure combining AIM Italia and MAC.  
- **Operational Oversight**: Governed by the Italian Stock Exchange (Borsa Italiana S.p.A.).  
- **MIC Code Evolution**: Transitioned from ITSM (2003–2012) to XAIM (2012–2021).  
- **Headquarters**: Strategically located in Milan, Italy’s financial hub.  
- **Aliases**: Recognized as XAIM and BORSA ITALIANA S.P.A. in financial systems.  

## Body  
### Overview  
AIM Italia - Mercato Alternativo Del Capitale operates as a multilateral trading facility (MTF) under the Italian Stock Exchange, established through the merger of AIM Italia and MAC. It caters to SMEs, growth companies, and specialized securities, offering an alternative to traditional stock markets. The platform is headquartered in Milan and is integral to Italy’s financial infrastructure.  

### Structure and Operation  
- **Parent Organization**: Governed by Borsa Italiana S.p.A., ensuring alignment with Italian financial regulations.  
- **Market Focus**: Serves as a dedicated venue for companies seeking flexible listing requirements compared to main exchanges.  
- **Trading Mechanism**: Functions as an MTF, enabling electronic trading and liquidity provision for listed securities.  

### History  
- **MIC Code Evolution**: Initially operated under the ITSM code (2003–2012), transitioning to XAIM (2012–2021) post-merger.  
- **Merge Significance**: The consolidation of AIM Italia and MAC streamlined alternative market services in Italy.  

### Key Identifiers  
- **MIC Codes**:  
  - **XAIM**: Active from 2012-04-23 to 2021-10-25.  
  - **ITSM**: Pre-merger code valid from 2003-04-01 to 2012-04-23.  
- **Website**: Official portal (https://www.borsaitaliana.it) with Italian-language content.  

### Digital Presence  
- **Documentation**: Recognized in Wikidata and linked to identifiers such as GND ID 4079188-9 (via stock exchange classification).  
- **References**: Cited in academic and financial databases, including references to "Q6770697" and 2022-09-00 updates.  

### Related Entities  
- **Italian Stock Exchange**: Parent organization responsible for oversight and integration with broader market systems.  
- **Stock Market**: Operates as a subclass of stock markets and trading venues, per Wikidata classifications.  
- **Global Context**: Part of the global network of stock exchanges, contributing to Italy’s capital market activity.  

### Regulatory and Market Role  
- **Compliance**: Adheres to Italian and EU financial regulations as an MTF.  
- **Economic Impact**: Facilitates capital raising for SMEs, promoting investment and job creation in Italy.  
- **Investor Access**: Provides domestic and international investors with opportunities to engage with emerging Italian enterprises.  

### Cultural and Linguistic Representation  
- **Naming**: Reflected in aliases like "BORSA ITALIANA S.P.A." and MIC codes, ensuring clarity in financial communications.  
- **Language**: Website and documentation emphasize Italian, reinforcing its national focus.  

### Legacy and Evolution  
- **Post-2021 Status**: The discontinuation of the XAIM MIC code in 2021 marked a shift in its operational framework, though its core mission remains unchanged.  
- **Adaptability**: Continues to evolve in response to market demands, technological advancements, and regulatory updates.

## References

1. Market Identifier Code