ACEPI

What ACEPI does

ACEPI (Associazione Italiana Certificati e Prodotti di Investimento) is the Italian industry association for certificates and structured investment products, established in 2006 and headquartered in Milan, Italy. The association represents the full ecosystem of Italian certificate issuers and distributors, with member institutions spanning the major Italian banks (Intesa Sanpaolo, UniCredit, Mediobanca, Banco BPM, BPER, Fideuram), international banks active in the Italian market (BNP Paribas, Société Générale, Barclays, Credit Agricole, Natixis, Vontobel), specialized investment-services firms (Leonteq Securities, Marex, Intermonte), Borsa Italiana, and industry associations AIBE, AIPB, and AMF Italia. Its core deliverables are fourfold: the ACEPI Certificates Map (a standardized classification taxonomy for Italian structured products across capital-protected, conditional capital-protected, non-protected, and leveraged categories); a catalog of ten free online training courses accredited by EFPA and CFA Society Italy for continuing professional education; comprehensive primary- and secondary-market statistics published quarterly and annually (tracking placed volume, outstanding volume, and product counts across 2006-2026); and industry positioning via events, the ACEPI Journalist Award, and regulatory advocacy through EUSIPA.

The underlying technology stack is a conventional content-publishing and association-management platform — a website (acepi.it), newsletter, YouTube channel, and LinkedIn presence — rather than a proprietary software product. Revenue mechanics are entirely membership-fee based, funded by the dues paid by its ~19 institutional members, with no commercial product sales or pricing tiers. ACEPI is a non-profit, privately governed entity with no parent company, no external investors, and no disclosed funding rounds; it operates with a small team (1-10 employees) led by Scientific Director Giovanna Zanotti. The association engages EU and Italian regulators (CONSOB, ESMA, EU Commission) on the EU Retail Investment Strategy, PRIIPs, and ESG frameworks, functioning as the unified industry voice for the Italian structured products market, where Q1 2026 member placed volume reached €9.549 billion across 654 products and outstanding volume stood at €66.788 billion as of March 31, 2026.

Name

ACEPI

Legal name

ACEPI – Associazione Italiana Certificati e Prodotti di Investimento

Website

https://acepi.it

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

1–10 employees

Short description

ACEPI is the Italian industry association for certificates and structured investment products, representing ~19 major banks and financial institutions through standardized product classification, EFPA/CFA-accredited training, market data, and regulatory advocacy.

Ownership category

akta.pro rank

Product category

Investment Products Industry Association

NAICS

Colleges, Universities, and Professional Schools (61131)

akta.pro primary industry

Financial Services & Insurance (FINRA, CFP, IAR, Insurance CE) (EDAAALAJ)

akta.pro secondary industry

Investing Fundamentals (Stocks, Bonds, Funds, Risk) (EDAAAJAH)

Keywords

• Structured products association
• Investment certificates classification
• Industry education programs
• Market data statistics
• Regulatory advocacy services

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Membership fees: ACEPI operates as a non-profit industry association funded by membership fees from banks and financial institutions. Member institutions include Banco BPM, Barclays, BNP Paribas, Borsa Italiana, BPER, Credit Agricole, Fideuram, Intermonte, Intesa Sanpaolo, Leonteq Securities, Marex, Mediobanca, Natixis, Société Générale, UniCredit, Vontobel, and industry associations AIBE, AIPB, and AMF Italia.

Distribution channels1 record

Marketing channels7 records

Core offering

ACEPI is a membership-funded industry association that provides standardized classification of investment certificates, EFPA- and CFA-accredited online training for financial professionals, and comprehensive primary and secondary market data for the Italian structured products sector. It also serves as the collective advocacy and regulatory interface for its member banks, financial institutions, and industry associations on Italian and EU policy matters affecting certificates.

Product overview

ACEPI (Associazione Italiana Certificati e Prodotti di Investimento) is the Italian Association for Investment Certificates and Products, serving as the industry association for the structured products sector in Italy. ACEPI's core offering centers on certificates—structured investment products that are categorized into four main types: (1) Capital Protected certificates guaranteeing principal return at maturity; (2) Conditional Capital Protected certificates offering protection contingent on specific market events; (3) No Capital Protected certificates for growth-oriented strategies without principal guarantees; and (4) Leverage certificates designed to amplify market exposure. Supporting these product categories, ACEPI provides educational tools including the Certificates Map (available in multiple formats), EFPA/CFA-accredited training courses, and comprehensive market statistics spanning primary market placements and secondary market trading data. The association also facilitates industry dialogue through events and the ACEPI Journalist Award.

Differentiator

Problem solved

Functional benefit

Products and services

• Mappa ACEPI dei Certificati (ACEPI Certificates Map) ACEPI's proprietary classification tool that organizes Italian investment certificates by protection level (Capital Protected, Conditional Capital Protected, No Capital Protected) and product type (Digital, Equity Protection, Express, Cash Collect, Bonus, etc.). Available in A3, A4, and Excel formats for investors, financial advisors, and member institutions navigating the certificate market.
• Corsi di Formazione ACEPI (Free Online Training Courses) Free online training programme of 10 EFPA and CFA Society Italy-accredited courses covering certificates fundamentals, advanced strategies, portfolio construction, no-capital-protected certificates, price drivers (volatility, time, underlying), Credit Linked Certificates, interest rates and dividends, leveraged certificates, and Covered Warrants. Used by financial advisors to earn EFA/EFP/EIP/ESG and CFA continuing education credits.
• Dati e Statistiche di Mercato (Market Data & Statistics) Comprehensive research service publishing quarterly primary-market reports (Q1 2021 through Q1 2026), annual primary-market reports (2006-2026), secondary-market reports (2010-2026), outstanding-volume data (2022-2026), and downloadable PDFs covering Italian certificate issuance, secondary-market trading on SeDeX, Cert-X and Vorvel, and product type breakdowns.
• Premio Giornalistico ACEPI (ACEPI Journalist Award) Annual journalism award program recognising excellence in reporting on structured products and investment certificates. Open to journalism master's students, professional journalists, publicists under 35, and senior journalists, with award categories encouraging quality coverage of the Italian certificates market.

Quantifiable outcome

• Over 20 free online training courses with EFPA and CFA accreditation, providing professional development for thousands of financial advisors annually
• +1 more outcomes

Named customers16 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• EUSIPA (European Structured Products Association)coreStrategic or Co-development Partner · 31 March 2026EUSIPA is the European umbrella association for structured products. ACEPI represents the Italian market within EUSIPA and participates in joint industry statements, regulatory consultations, and European policy advocacy. At SRP Europe 2026 conference, ACEPI joined EUSIPA, AFPDB, and Polish Council for Structured Products in discussing EU regulatory challenges including EU Retail Investment Strategy, ESG integration, and fintech issues.
• EFPA (European Financial Planning Association)coreStrategic or Co-development PartnerEFPA Italia provides accreditation for ACEPI's free online training courses. Financial advisors who complete ACEPI courses earn continuing education credits (EFA, EFP, EIP, ESG certifications) for maintaining their professional certifications.
• CFA Society ItalycoreStrategic or Co-development PartnerCFA Society Italy co-accredits ACEPI's training courses, allowing investment professionals to earn continuing education credits for maintaining CFA and other professional certifications.
• Borsa ItalianacoreStrategic or Co-development PartnerBorsa Italiana is a member of ACEPI and operates the SeDeX and Cert-X markets where ACEPI member institutions list their certificates and leveraged products. ACEPI provides market data and analysis for these exchange-traded structured products.
• ANASF (Associazione Nazionale Consulenti Finanziari)minorStrategic or Co-development PartnerANASF is the Italian national association of financial advisors. ACEPI provides specialized training courses on certificates for ANASF members, including introductory courses on investment certificates.
• AIPB (Associazione Italiana Private Banking)minorStrategic or Co-development PartnerAIPB is the Italian Private Banking Association and a member of ACEPI. Represents private banks and wealth management firms that distribute certificates to high-net-worth clients.
• AIBE (Associazione fra le Banche Estere in Italia)minorStrategic or Co-development PartnerAIBE represents foreign banks operating in Italy and is a member of ACEPI. These international banks participate in the Italian structured products market through ACEPI.
• AMF Italia (Associazione Intermediari Mercati Finanziari)minorStrategic or Co-development PartnerAMF Italia represents financial market intermediaries and is a member of ACEPI. These intermediaries facilitate trading and distribution of certificates.

Scale indicators6 records

Recent moves1 record

Expansion highlights5 records

Broad incumbents

• Structured Retail Products (SRP): Pan-European media and data provider for the structured products industry, organizing the SRP Europe conference at which EUSIPA, AFPDB, ACEPI, and Polish Council discuss EU policy. Broader incumbent in the same category, overlapping with ACEPI on data dissemination and industry intelligence rather than issuer advocacy.

Direct peers

• Deutscher Verband für Strukturierte Wertpapiere (DWSW): German national association for structured products issuers, providing classification, market data, and regulatory advocacy for the German certificates market. Same role, same product class, same membership model - the closest direct peer to ACEPI in continental Europe.
• Polish Council for Structured Products: National industry council representing Polish structured products issuers, co-participant with ACEPI within EUSIPA in EU regulatory advocacy. Direct peer at smaller scale with the same issuer-association function.
• Association française des produits structurés (AFPDB): French national association for structured products, co-participant with ACEPI in EUSIPA's SRP Europe 2026 discussion on EU Retail Investment Strategy. Mirrors ACEPI's role in standardizing product classification and representing issuers to French and EU regulators.
• Swiss Structured Products Association (SSPA): Swiss national association for structured products issuers, providing the Swiss derivative map classification and education programs. A direct peer with the same issuer-association model and similar scope (classification + advocacy + training) as ACEPI, but oriented to the Swiss market.
• EUSIPA (European Structured Products Association): Pan-European umbrella association for structured products issuers, of which ACEPI is the Italian member. EUSIPA coordinates joint industry statements, EU regulatory consultations, and the International Structured Products Forum - a structural peer performing the same industry-association function as ACEPI, just at EU level.

Regional players

• Borsa Italiana: Italian stock exchange operator of the SeDeX and Cert-X markets where ACEPI members list their certificates. ACEPI sits as both a partner and member of Borsa Italiana; as the listing venue for €38.8B secondary turnover, Borsa Italiana is a structurally related infrastructure provider for the same asset class.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCp_A4VHmzjhcRb_gWodpBIw/featured
• LinkedInlinkedin.com/company/acepi-certificates-and-investment-products-italian-association-

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ACEPI