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55 funds are already registered on the first trading day, and their portfolios have a total value of DKK 30,981 million.
The new XtraMarked has gained 27 members (banks and stockbroking companies), which offer the investors trading on the new authorised market.
Senior vice president Peter Belling says: "When the Exchange's XtraMarked was advertised in December last year, our criterion of success was that at least 10 funds had registered from the beginning on 1 March and at least 40 funds by 1 October 2002. The debut of the XtraMarked has surpassed our expectations. It looks promising for the XtraMarked, which will not least benefit the many private investors that are interested in this market segment.
With the XtraMarked investors have a more efficient way of adjusting their portfolios between on the one hand the more price sensitive equity investments and on the other the less price sensitive bond investments."
The XtraMarked is as mentioned an authorised market. This means that non-listed securities can be traded here in an orderly and transparent manner, which ensures that all parties are treated equally.
The following unit trusts have registered funds on the Exchange's XtraMarked:
|
Name |
Number of funds (of which are ex coupon) |
Volume in circulation in market value in DKKm* |
|
|
Bankinvest |
14 |
(6) |
24,931 |
|
EGNS-INVEST |
7 |
1,461 |
|
|
Midtinvest |
9 |
(3) |
887 |
|
Nykredit Invest |
2 |
114 |
|
|
Sparindex |
11 |
199 |
|
|
Sparinvest |
12 |
(6) |
3,389 |
|
Total |
55 |
(15) |
30,981 |
*Most recent volume in circulation in units multiplied by the price as at 25 February 2002
Unit trust certificates on the XtraMarked will in terms of tax retain their status as non-listed.
Peter Belling continues: "We are very satisfied with the number of funds that have already been admitted for the XtraMarked from the start. In the near future, we expect to see applications from Spar Invest for some of their foreign funds and from Henton, who will be an entirely new issuer of unit trust certificates." The current price formation, i.e. bid/offer prices as well as the concluded trades can be tracked via the Exchange's information systems throughout the day, including on www.xtramarked.dk. Moreover, investors who are users of the Exchange's website 'Personal pages' can place their unit trust certificates traded on the XtraMarked in their own price list and personal portfolio and can therefore now track the price development in these non-listed unit trust certificates in an easier way.
The XtraMarked commands the same trading system that is used for the trading of securities listed on the Copenhagen Stock Exchange. The trading in the unit trust certificates that are on the XtraMarked will be monitored in the same way as is the case with listed securities. The same rules also apply to the market participants in terms of both price manipulation and insider trading.
Members of the Exchange's XtraMarked
|
Alfred Berg Bank A/S |
Henton Børsmæglerselskab A/S |
|
Alm. Brand Bank A/S |
Íslandsbanki-FBA hf. |
|
Amagerbanken Aktieselskab* |
Jyske Bank A/S |
|
Amtssparekassen Fyn A/S |
Landesbank Schleswig-Holstein* |
|
Arbejdernes Landsbank A/S* |
Lån & Spar Bank A/S |
|
Carnegie Bank A/S |
Midtbank A/S* |
|
Danske Bank A/S* |
Nordea Securities Bank DanmarkA/S* |
|
Danske Securities AB* |
Nykredit Bank A/S* |
|
Dexia P-H Private Bank Denmark A/S |
Skandinaviska Enskilda Banken A/S* |
|
E*Trade A/S* |
Spar Nord Bank A/S |
|
Finansbanken A/S* |
Stocknet – Aston Securities ASA* |
|
Forstædernes Bank A/S |
Sydbank A/S |
|
Gudme Raaschou Bankaktieselskab |
Tullett & Tokyo (Equities)Liberty Ltd. |
|
Handelsbanken* |
* member that offers trading via the Internet.
This means that the investors can now actually choose through which broker they wish to trade, also when it comes to non-listed unit trust funds on the XtraMarked.
