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SOFIA (Bulgaria), January 15 (SeeNews) - The Expat Bulgaria Short SOFIX ETF [BUL:BGXS], which will track the inverse performance of the blue-chip SOFIX index, started trading on the Bulgarian Stock Exchange (BSE) on Wednesday, the bourse operator said.
"The launch of trading of the first "short" index fund is a meaningful event for the Bulgarian capital market at the beginning of 2020 not only because it is the first inverse ETF, but also because the product diversity implies strengthening of the interest of the investors in the BSE markets," Manyu Moravenov, CEO of the BSE, said in a statement.
The maximum spread between bid and ask quotes is 5% and the minimum value of the quote at the time of entering is 2,500 levs ($1,425/1,278 euro).
The ETF, managed by Expat Asset Management, currently has 110,000 issued units with a nominal value of 1 lev each.
Expat Asset Management operates another 11 exchange-traded funds (ETFs) tracking the performance of stock indices from the CEE region, including the SOFIX.
Expat Asset Management is a wholly-owned subsidiary of local Expat Capital.
(1 euro = 1.95583 levs)