New Version of Rules for MICEX Index Calculation Will Take Effect
OREANDA-NEWS. September 6, 2012. On September 18, 2012 a new version of the Rules for calculating the MICEX Index will come into force. The Rules were approved by the Directorate of CJSC MICEX Stock Exchange on July 26, 2012 and registered by the Russian Federal Financial Market Service in August 30, 2012.
The new version of the document includes the following changes:
an alignment of terms for revision of the MICEX Index constituent list with settlement dates of the Index derivatives. The first revision of the MICEX Index"s constituents in accordance with the new Rules will take place on September 18, 2012.
an introduction of a 2-week period for disclosing parameters of new index"s constituents. Parameters of securities to be in the MICEX Index from 18 September will be published on the Exchange"s website on 3 September.
setting out an additional requirement for weights of the securities in the Index. In addition to the existing limitation imposed on a maximum weight of securities of one issuer, i.e. 15%, a restriction of 55% will be applied to a total weight of securities of five “heaviest” issuers.
an adjustment of the list of trading modes used to calculate the Index"s values.
Some amendments to the text of the document were also made.
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