Moscow Exchange Adopted Methods for Calculating Indices
OREANDA-NEWS. Moscow Exchange has adopted calculation methodologies for its Broad Market Indices, Second-Tier Indices and sector indices.
The new methodologies were developed as part of the process to establish the unified family of the Moscow Exchange indices. They ensure the continuity of the existing indices" historical values. The second-tier indices computed in rubles and US dollars will continue series of MICEX SC Index and RTS-2 Index values respectively. The ruble-denominated and US dollar-denominated values of the Moscow Exchange sector indices will follow historical values of MICEX and RTS sector indices. The broad market index will be the only new index which will be launched after the methodology effective date.
The methodologies" effective dates will be announced later.
Methodology of the Moscow Exchange Broad Market Indices calculation
Methodology of the Moscow Exchange Second-Tier Indices calculation
Methodology of the Moscow Exchange sector indices calculation
Principles of the Moscow Exchange Indices compilation and calculation imply the following:
The unified approach to compositing the Indices baskets implying that constituent lists of the indices are made up based on stocks taken out of 100 stocks selected to be included in the Broad Market Index based on their market capitalization, liquidity and free float. Top 50 stocks in terms of free float-adjusted capitalization make the MICEX Index and RTS Index, while next 50 stocks are included in the Second-Tier Index. The sector indices" baskets are compiled through dividing the Broad Market Index"s basket by sectors of the economy.
All indices are computed in two currencies, ruble and US dollar.
A single formula is applied to calculate all indices.