.jpg)
- GPW launches the High Volume Funds (HVF) programme addressed to mutual funds actively trading in equities and/or derivatives on GPW
- The objective of HVF is to improve the liquidity of GPW-listed instruments and enable the development of special funds including arbitrage funds
- The programme will last 12 months with an extension option
On 1 July GPW launches the High Volume Funds (HVF) programme addressed to mutual funds actively trading in equities and/or derivatives on GPW. The programme enables participants to execute transactions at lower fees in equities, allotment certificates, subscription rights, ETF units, futures and options.
“This is yet another programme developed by the Exchange to make market participants more active, improve liquidity and grow the volume of trade on GPW. We expect that with lower transactions costs for mutual funds, which typically trade in high volumes, the HVF programme will encourage them to become more active on GPW,” said Grzegorz Zawada, Vice-President of the Warsaw Stock Exchange.
As the main condition of participation in the HVF programme, funds will be required to meet a specific target of daily value or volume of trading. In addition, the funds will be required to meet a specific target of velocity ratio (generated turnover to the fund’s net asset value).
The programme will last 12 months with an extension option.
Detailed information can be found in the text of the Resolution No. 622/2015 of the Management Board of the Warsaw Stock Exchange, published on 30 June 2015 and in the Annex to the Resolution No. 622/2015. The Resolution is available here: http://www.gpw.pl/uchwaly_zarzadu_gpw_en/?ph_tresc_glowna_start=show&ph_tresc_glowna_cmn_id=55827
