NASDAQ Copenhagen A/S NASDAQ Helsinki Ltd NASDAQ Iceland hf. NASDAQ Stockholm AB Rules for the Construction and Maintenance of the NASDAQ OMX All-Share, Benchmark and Sector Indexes

Nikolai Pokryshkin
وسيط
انضم: 2022-07-22 09:48:36
2024-07-10 16:44:29

NASDAQ Copenhagen A/S NASDAQ Helsinki Ltd NASDAQ Iceland hf. NASDAQ Stockholm AB Rules for the Construction and Maintenance of the NASDAQ OMX All-Share, Benchmark and Sector Indexes

1 INTRODUCTION
NASDAQ, Inc.and its affiliates (collectively “NASDAQ”), own and calculate the stock indexes
(the “Indexes”) and has granted NASDAQ OMX Stockholm AB (“NASDAQ Stockholm” or the 
“Exchange”) and the co-operating exchanges the right to use the Index in connection with 
trading in and clearing of contracts related to the Indexes in accordance with these rules and 
regulations. .
This booklet describes how NASDAQ calculates the All-Share, Sector, Small Cap, Benchmark
and Tradable Indexes. It is aimed at users, investors and others interested in the construction 
and computation of such indexes. 
NASDAQ also calculates Tradable Indexes; OMXC20 in Copenhagen, OMXI8 in Reykjavik, 
OMXS30 in Stockholm and OMXH25 in Helsinki. However the descriptions of the calculation of 
these indexes are not included in this booklet. Please refer to respective methodologies for more 
information.
1.1 THE INDEX FAMILY
The index family can basically be divided into two groups:
All-Share Index and the Sector Indexes
The objective of the indexes in the first group is to represent the overall state and changes in the 
level of the economy. The first group includes the All-Share Index and the Sector Indexes. The 
focal point of the first group is to mimic the population of shares representing the index, without 
complying with liquidity and stability requirements. Since there is no filtering for liquidity, the
indexes themselves may not be easy to replicate in a portfolio or benchmark against and the 
pricing of the shares, and hence the index level, may lag due to infrequent trading in the 
underlying shares.
Benchmark-, Small Cap- and Tradable Indexes 
The second group is focused on investability and periodic stability in the Index Shares, while still 
reflecting the population of shares from where the index was constructed. The objective of the 
Benchmark Index is to reduce administrative routines and costs due to continuous re-balancing 
of the portfolio and secure tradability of the Index Shares in order for the index to function as an 
investible benchmark for the investment community. In the second group we find the 
Benchmark-, Small Cap- and Tradable Indexes.
1.2 NASDAQ INDEX COMMITTEE
NASDAQ carries out the periodically and daily maintenance of the indexes, such as calculating 
and distributing the index levels and calculation parameters, in accordance with these rules. 
NASDAQ has an Index Committee. The role of the NASDAQ Index Committee is to determine 
and review these rules and to consider and agree on additions and deletions in accordance with 
these rules, especially for the semi-annual review of the Benchmark Index. 

1.3 INDEX CURRENCY
An index that consists of shares quoted in different currencies as well as the underlying prices of 
the Index Shares, are converted into the index currency. 
Foreign exchange rate is the WM Company, Closing Spot Rate at 16:00:00 UK time in the 
calculation of the End Of Day (“EOD”) Index Value.
SIX Financial Information Intraday Spot Rate is applied to the real time Index calculation during 
the trading day. 
2 SECTOR CLASSIFICATION
2.1 NASDAQ AND FTSE GROUP (FTSE)
NASDAQ has entered into a licence agreement with FTSE with respect to classification of 
shares listed on NASDAQ under the Industry Classification Benchmark (ICB)
NASDAQ has adopted the ICB as the official and primary method for classification of all share 
classes listed on NASDAQ. The ICB system is comprised of four levels of classification: Industry, 
Supersector, Sector and Subsector. 
2.1.1 THE CLASSIFICATION
ICB is a detailed and comprehensive structure for sector and industry analysis, facilitating the 
comparison of companies across four levels of classification and national boundaries. The 
system allocates companies to the Subsector whose definition most closely describes the nature 
of its business. The nature of a company’s business is determined by its source of revenue or 
where it constitutes the majority of revenue. If a significant change takes place in a company’s 
structure as a result of a corporate event, its industry classification may be reassessed by FTSE.
The ICB consists of 10 Industries, 19 Supersectors, 41 Sectors and 114 Subsectors.-7. The 10 
industries of the first level are as follow: 
0001 Oil & Gas 
1000 Basic Materials 
2000 Industrials 
3000 Consumer Goods 
4000 Health Care 
5000 Consumer Services 
6000 Telecommunications 
7000 Utilities

NASDAQ Copenhagen A/S NASDAQ Helsinki Ltd NASDAQ Iceland hf. NASDAQ Stockholm AB Rules for the Construction and Maintenance of the NASDAQ OMX All-Share, Benchmark and Sector Indexes

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