Tradeville Gets Market Maker Status On Gold Derivatives

05.09.2011 By Andrei Circhelan

Brokers Tradeville received market maker status on the Bucharest Stock Exchange for leu denominated gold price derivatives, company general manager Mihaela Biciu said Monday.

Tradeville will be market maker for futures maturing in June and August, and prices will reflect the derivatives evolution on the Chicago Mercantile Exchange, Biciu said.

"Any exposure is covered through our partner in London, brokerage firm GFT, who is our liquidity supplier," Biciu added.

Under the parameters set up by bourse operator BVB (BVB.RO), Tradeville will introduce sale and purchase orders for at least 100 contracts, and a maximum spread between buying and selling prices will be 0.2% for the series with the nearest maturity and 0.3% for derivatives with more distant maturities.