AUSTRIA/UKRAINE - The Vienna Stock Exchange (VSE) has unveiled the latest addition to its family of eastern European indices, the Ukrainian Traded Index (UTX).

The index, which is calculated in euros, US dollars and Ukrainian hryvnas, was fixed at 1,000 points on 9 January and had risen 67% by 31 August.

Two weeks ago the Ukrainian stock exchange (PFTS) and the VSE signed an indices co-operation agreement.

Currently the index includes the stocks of 10 Ukrainian companies. The largest security is the steel manufacturer Azovstal with a weighting of 18.86%. Maximum exposure of any one firm in the index is 25%.

The composition of the index is reviewed twice a year.

Over 80% of structured products worldwide relating to central, east and southeast Europe are currently based on indices created by the VSE, the stock exchange claims.

Including the UTX, the VSE now calculates and disseminates 25 indices, 18 of which relate to eastern and southeast Europe.