ATVRAnnualized Traded Value Ratio (liquidity measurement)
ATVRÁfengis Og Tóbaksverslun Rýkisins (Icelandick State Alcohol and Tobaco Store)
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"In addition, MSCI criteria require four consecutive three-month ATVRs greater than 15 per cent, implying that DU would need to wait another year to be able to meet this requirement," Bokor added.
The last sub-criterion, the security liquidity is only met by one company which is FP, which has an ATVR (annualized traded value ratio) more than 15% situated around 41%.
Some possible solutions can be increasing of the free float of Petrom trough a state secondary public offer, which will considerably increase the ATVR. (15) Another solution can be the listing of some important state owned companies.
Furthermore, in Iceland the alcohol retail monopoly ATVR has established small stores in sparsely populated areas, where the shop manager is employed by ATVR, but can also run another business.
These Products can really be meaningful and can take the Exchange to the pedestal of 2003-2004 when a single free float share was traded for 187 times (with highest ATVR and KSE remained world's best performing market), but all that needs is the change of mindset.
MSCI Inc., a leading provider of investment decision support tools worldwide, including indexes, portfolio risk and performance analytics and corporate governance services, proposes to apply frequency of trading requirements for the MSCI Frontier Markets Investable Market Indexes (IMI) in addition to Annualized Traded Value Ratio (ATVR) as part of the upcoming May 2014 Semi?Annual Index Review.