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Vienna Stock Exchange launches trading in managed investment funds

15. October 2007

British investment advisor and manager Pentagon Capital Management Plc acts as market maker

On 8 October the Vienna Stock Exchange (Wiener Börse) launched the trading of over 400 popular unitised collective investment trusts (UCITs). All funds have been approved for distribution to the public in Austria and trading is done on the unregulated Third Market's segment structured using the fully electronic Xetra® trading system. 

For the first time investors can trade UCITs like stocks which allows for a wide range of trades and operations. Investors also pay only the spread between the buy and sell price which is usually less expensive than charges incurred when buying funds from brokers or banks. The new market segment complies with the best execution regulations of the EU Market in Financial Instruments Directive (MiFID) which enters into force on 1 November.

British investment bank Pentagon Capital Management Plc which was admitted to trading on the cash and derivatives markets of Wiener Börse in September 2007 acts as listing market maker.
The admission of Pentagon Capital Management has raised the number of foreign members for the first time to same level as Austrian investment firms and the share of international trading participants in total trading volume on Wiener Börse is 56.7%. This ever growing interest from international investors has been caused by the rapid increase of the Wiener Börse market capitalisation and its main trading index ATX - both of which are based on the great financial results delivered by Austria's main listed companies.