“We are preparing a new instrument, the first Romanian ETF to be listed in Bucharest,” said Mihaela Biciu, president and CEO of Tradeville.
Biciu didn’t give details on the future fund’s structure or planned investments.
Exchange-traded funds are built like conventional mutual funds but are priced and traded throughout the day like individual stocks. Usually, ETFs mirror the structure of bourse indexes.
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.