On August 8, the Bucharest Stock Exchange authorized the listing of the first local exchange-traded fund, managed by Vanguard Asset Management.
Usually, ETFs mirror the structure of bourse indexes.
ETF BET Tradeville will mirror the structure of the Bucharest bourse’s BET index, which comprises the 10 most traded issuers.
Brokerage house Tradeville will be market maker for the ETF’s units.
The Bucharest exchange recently announced plans to stimulate trade volumes in 2012 by temporarily suspending processing and admittance tariffs for all financial instruments on the spot market, including a six-month waiver of admittance and trade fees for all local open-end funds once the first Romanian ETF is listed.