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​The terms and conditions applicable to the use of the website are composed of (i) this notice, (ii) the Legal Notice, (iii) Data Protection Policy, (iv) the Cookies Policy, and (v) any other document and information displayed on the website, or approved by you, as amended and supplemented from time to time. By clicking on your client type and continuing and/or accepting this notice, you confirm that you have read and agree with these publications.
This website is published by Amundi Asset Management  in respect of the exchange traded funds (“ETFs”) managed outside of Singapore by Amundi Asset Management (“Amundi”). . Société Générale, Singapore Branch has been appointed as the representative in Singapore of the Funds managed by Amundi. [BD(1] 
Amundi Asset Management, a simplified joint stock company (société par actions simplifiée) with capital of 1 143 615 555 euros. Amundi is a French asset management company registered and regulated by the AMF. Any reference to Amundi is a reference to such company solely in its capacity as the manager of the ETFs set out herein. Amundi carries on fund management work outside Singapore.

A reference to the “website” is to and all web pages thereunder, including the content, information, applications, programmes, images, sounds, graphics, video and other materials displayed therein and the functionalities or services provided therein.
The content of this website is directed at and available for general circulation to residents of Singapore only. It may be illegal to download any information from this website in other countries. Amundi, Amundi Singapore Limited, members of the Amundi Asset Management group companies and their affiliates (the “Amundi Group”) disclaim all responsibility if you download any information from this website in breach of any law of the country in which you are residing. Information on this website is not directed at, and must not be relied, or acted, upon by, persons residing outside Singapore. By entering this website, you confirm that you are a resident of Singapore and agree to be bound by the disclaimers and covenants set out below and published on this website.
The website is not directed at any person in any jurisdiction other than Singapore and no person in any jurisdiction where (by reason of that person's nationality, residence, or otherwise) the publication, content or availability of the website is prohibited or would subject the Amundi Group to any registration requirement within such jurisdiction is permitted to access the website.
The content in this website is intended for general information only and does not constitute an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation. You should seek advice from a financial adviser as to whether a particular ETF is suitable for you before investing.  In the event that you choose not to seek advice from a financial adviser, you should consider whether the product in question is suitable for you.

Unit prices and income distributions of the funds may rise and fall.   An investor should make his own independent appraisal of the risks and consult to the extent necessary his own legal, financial, tax, accounting and other professional advisors prior to any subscription or acquisition. 

The Amundi Group and its associated and connected persons, their directors, officers and/or employees, including persons involved in the preparation or issuance of this material, may have positions or other interests in, and may as principal or agent effect transactions in the products mentioned herein and may also perform or seek to perform broking, investment banking and other banking or financial services for the issuer of products.
Amundi Group entities and their officers, directors and/or employees, may from time to time (i) deal in, profit from the trading of, hold or act as market-makers or act as advisers, brokers or bankers in relation to the ETFs, index, securities, derivatives, products, persons, firms or entities which may be referred to or information in respect of which is available on this website or (ii) be represented on the board of such persons, firms or entities. Amundi Group entities and their officers, directors and/or employees, or individuals connected to them, may from time to time have a position in or be holding any of the investments or related investments mentioned on this website. Amundi Group entities and their officers, directors and/or employees, or individuals connected to them may from time to time effect transactions which are not consistent with any information or material herein.  The above situations may lead to potential conflicts of interest between you and the Amundi Group. You fully consent that the Amundi Group shall be under no obligation to disclose those situations as and when they arise, and you fully consent to the retention of such benefits and/or profits for their own account.  
By accepting this notice, you acknowledge and expressly agree, on your behalf and on behalf of any third party individuals whose personal data you disclose to  Amundi, that Amundi is authorised to collect, store, use, disclose, process and transfer (whether in or outside Singapore) personal data relating to you and/or such third party individuals in accordance with the Data Protection Policy, which stipulates the purposes for which Amundi may collect, use, disclose, process and transfer personal data of natural persons, which is available from this weblink: (the “Data Protection Policy”) and subject to review from time to time. For example, Amundi will and is permitted to collect and store personal data relating to you and/or such third party individuals on its information systems, to use, process, disclose and transfer such data to legal entities of Amundi Group, as well as, to its agents and service providers and, if required by applicable law, to competent courts of law and other public authorities, provided that such collection, storage, use and disclosure is in accordance with the purposes set out in the Data Protection Policy. Where any personal data relating to any third party individuals has been provided by you to Amundi, you warrant and represent to Amundi that you have (i) informed such third party individual that their personal data will be disclosed to Amundi; (ii) informed such third party individual that such personal data will be collected, used, stored, disclosed, transferred or otherwise processed by Amundi in the manner and for the purposes as set out in the Data Protection Policy; and (iii) obtained the consent of such third party individual for the foregoing in accordance with the Personal Data Protection Act (No. 26 of 2012) and all other applicable laws. Communications involving your and other people's personal data may be transferred to countries whose legislation on the protection of personal data differs from that applicable in your local jurisdiction. In particular, personal data will be disclosed to Amundi personnel to process transactions and for the general operation of the website. Please refer to the Data Protection Policy for further details on the collection, storage, transfer, use, disclosure, and processing of your personal data. You agree to comply with the Data Protection Policy.
This website uses cookies to make the website work or improve your user experience. By continuing to use this website you consent for cookies to be used. For more details, including how to amend your preferences, please read the Cookies Policy.
By clicking on your client type to enter the website, you shall be deemed to have represented to us that you are not a U.S. person and that you are not located in the United States of America, its territories and possessions, and any State of the United States of America and that you are authorised to receive the information to and on this website.

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  • On 1 November 2012 entered into force the Regulation (EU) No 236/2012 of the European Parliament and of the European Council on short selling and on certain aspects of credit default swaps.
  • The Regulation requires people holding net short positions in shares or bonds of the same magnitude or above certain thresholds to communicate those positions to the competent authority before 15:30 of the trading day following the one on which the relevant threshold was reached.
  • For shares, the disclosure threshold is set at 0.2% of the market capitalization of the issuer and any subsequent change at 0.1%. The Regulation requires that the net short positions in shares equal or greater than 0.5% of the market capitalization is to be published.
  • For government bonds and the CDS on sovereign debt the Regulation states the following:
    1. the obligation to report to the competent authorities of individual net short positions on sovereign debt of a significant amount (art. 7);
    2. a ban on short selling in the absence of the availability of the securities, as well as the ban to take positions on uncovered credit default swaps on sovereign issuers (arts. 13, 14);
  • The European Securities and Markets Authority (ESMA) shall publish on its website the notification thresholds for the sovereign debt of each Member State.
  • The Regulation reports a system of exemptions for market makers and primary dealers.
  • Under the provisions of the new Article 4 ter of the Consolidated Finance Act (Legislative Decree 58/1998), introduced by the Development Decree (Decree 179/2012), the Bank of Italy and Consob are the competent authorities to receive notifications , implement the measures and exercise the functions and powers provided for by the ordinary rules; the Ministry of Economy and Finance (MEF) is the competent authority to intervene in exceptional circumstances, to be exercised on a proposal of the Bank of Italy, after consulting Consob.
  • In particular, to the Bank of Italy must be given notifications of net short positions on sovereign debt and notifications by the Italian market makers and authorized primary dealers in government securities wishing to make use of the exemptions.
  • As for shares, any person or entity for which Italy is the Member State of origin - that is, it is a resident in Italy - is required to give notification to Consob for the use of the exemption as market maker; Moreover, any natural or legal person, wherever resident, is required to make reports to Consob (if they are above the thresholds required by law) of the net short positions relating to issuers whose shares have, as the main market, an Italian regulated market or for which the trading venue to which they have been admitted to trading for the first time is an Italian MTF.
  • For details please refer to the websites, and
  • Note that in the calculation of the net short position also contribute exposures (long and short) taken indirectly through the purchase of ETF (short, double short, long and leverage) that replicate indexes that include shares or sovereign debt according to reasonable criteria, on the basis of publicly available information on the composition of the relevant indices.
  • For example, consider that the purchase of an ETF Short (-1x) or Double Short (-2x) of an equity index / bond produces a short position on government bonds / securities comprising the index replicated by ETF, while buying an ETF Long (+ 1x) or Leverage (+ 2x) produces a long position on government bonds /the securities included in the index replicated by the ETF.
  • For information about the index replicated by the ETF, please refer to the documents "Prospectus", "KIID" and "Documento di Quotazione "and / or document" Monthly Update "on the site (in the section dedicated to the individual ETF). To request information, please contact the toll free number 800 92 93 00 or write to the e-mail address: