Wiener Borse (also known as the Vienna Stock Exchange) has said that BT Asset Management has launched the licensing procedure of the BT Index Austria ATX, a passively managed fund on the ATX, the Austrian traded index.

The ATX is a capitalization-weighted price index, made up of 20 Austrian blue chip stocks traded at the Vienna Stock Exchange. The index is calculated and disseminated in real time and denominated in EUR. As of July 31, 2010, the ATX market capitalization amounted to EUR58.87bn, the effective tradable capitalization being EUR35.20bn.

Michael Buhl, CEO of Wiener Borse, said: “Banca Transilvania Asset Management is the first Eastern European financial institution that has received a license from Wiener Borse to use the ATX as underlying for a fund containing Austrian shares. We are happy to see an increasing interest of Romanian investors in companies listed on the Vienna Stock Exchange.“

Robert Rekkers, CEO of Banca Transilvania, said: “BT Index Austria ATX is the first Banca Transilvania open-end fund denominated in Euro. We have enhanced the group’s services, and this time we address current and potential customers who wish to make FX placements on an external market – liquid, mature and extended.”