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Wiener Börse unveils Ukrainian equity index

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Following the signing of an index co-operation agreement between the Ukrainian Stock Exchange PFTS and Wiener Börse last month, the Austria exchange group has launched a Ukrainian equ

Following the signing of an index co-operation agreement between the Ukrainian Stock Exchange PFTS and Wiener Börse last month, the Austria exchange group has launched a Ukrainian equity index designed to be used as the underlying basis for investment products.

The index, known as the UTX, is calculated in real time and published in euros, US dollars and Ukrainian hryvnia. Like all the indices produced by Wiener Börse, the UTX has been designed as a tradable index that can serve as the basis for structured products and derivatives.

The starting value of the UTX was fixed at 1,000 points last January and had risen by 67 per cent at the end of August. The index currently consists of the stocks of 10 Ukrainian companies, with the largest security in the index, the steel manufacturer Azovstal, having a weighting of 18.9 per cent. No company in the index is permitted to have a weighting of more than 25 per cent. The composition of the index is reviewed twice a year.

As well as the UTX, Wiener Börse calculates and disseminates 25 indices, 18 of which relate to eastern and south-east Europe. About 80 per cent of all structured products worldwide focusing on the region are based on the Vienna exchange’s indices.

The Ukrainian Stock Exchange PFTS was founded in 1996 and privatised the following year. It has developed into the largest of six exchanges that make up the Ukrainian securities market, with a market capitalisation of EUR55bn.

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