10
February 2016 Moscow Exchange launched indices for mid- and small-cap
stocks, the MICEX SMID Index (MCXSM) and the RTS SMID Index (RTSSM),
denominated in Russian rubles and US dollars, respectively. Stocks of
IDGC of Centre, PJSC (MRKC) were included in the calculation base of
the SMID Index with the weighting of 0.37% as of 16.12.2015. On the
date of the last review of the index the company’s stocks were the
sole representative of the sector of interregional distribution grid
companies.
The indices have been developed in response to demand from equity
funds investing in Russian mid-cap and small-cap stocks. They have
been compiled in line with UCITS rules according to which no single
issuer may have a weighting in the index of more than 10%, and the
combined weighting of issuers with individual weightings of more than
5% may not be more than 40% of the index. The minimum weighting of
any issue is 0.3%, while no single sector can exceed 20%. The
indicators have been launched for the benefit of ETFs, which have
become increasingly popular on the global market over the last two
decades.
The indices will be reviewed on quarterly basis in accordance with
the following criteria:
Constituents are listed on Moscow Exchange;
Constituents are members of the Moscow Exchange Broad Market
Index;
Timely disclosure of results under IFRS;
Compliance with liquidity requirements;
Compliance with capital adequacy requirements;
Stock weighting factor.
The calculation methodology was approved by Moscow Exchange on 29
January 2016 and will take effect on 10 February 2016.
The history of the indices can be traced back to 17 December 2012
and will be available from 10 February 2016, the base values of the
MICEX SMID Index and the RTS SMID Index are 1,000 and 1,515.27,
respectively.
For further information on the indices, please, visit the Moscow
Exchange site at: https://moex.com/en/index/MCXSM
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