AUSTRIA/CEE - The Vienna stock exchange is looking to create new indices for eastern European countries.

"We are looking into creating another country index in Eastern Europe," Michael Buhl, joint chief executive of the Vienna stock exchange, told IPE.

He did not disclose which countries were taken into consideration but hinted the VSE "will just have to look further east", adding the final decision will, among other things, depend on market interest.

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

A few weeks ago, the VSE unveiled its newest edition to the tradeable index family for the East and South-East of Europe - an index for Croatia.

Other indices in the group, namely those for the Czech Republic, Hungary and Poland, are around 10 years old while indices for Serbia and Romania are also on offer.

Any collaboration with Bulgaria is currently not an option, Buhl explained, because of plans by the government to privatise the local stock exchange.

"If a deal is signed now we might end up having to deal with a different owner in a few months time who might not even want to work with us," Buhl said.

There are also four mixed indices in the group of CEE indices, some of which have been running for over 10 years,  but this family might also grow in the near future, Buhl hinted.

Other plans by the Vienna stock exchange include the creation of a platform for small and mid-cap enterprises.

"We want to create something similar to the AIM in London in Vienna," Buhl said, as this will provide companies an easier access to the stock market and lower their costs.

There will also be a market coach available for post-IPO support.

"We will also provide marketing and investor relation support," Buhl added.