Data Technical News #2016 – 17 - Nasdaq Launches

Markets Impacted: Nasdaq Copenhagen

Products Impacted:    

• Nordic Equity products that include index data
• Nordic Index Weights (Global Index Watch and GIFFD)

What you need to know:  As of December 19, 2016, Nasdaq will introduce the Copenhagen 25 index (OMXC25). The C25 is a capped index comprising the 25 shares with the largest free float adjusted market capitalization and with the highest six-month turnover. The index will be effective from December 19, 2016.

After a 12-month period, the C25 will replace the C20 CAP as the leading index for the Danish equity market as well as the C20 index family at the December 2017 review. Nasdaq’s intention is to discontinue the C20 index family after all derivatives products, investment funds and ETPs have expired or relocated to the new C25.

Why is this happening? “Thanks in part to a string of large cap listings since 2010, and with Nets and DONG Energy among this year’s global top three IPOs*, the Danish stock market has doubled in both market capitalization and equity turnover since 2012. This change should be reflected in a fundamental way,” said Bjørn Sibbern, President of Nasdaq Copenhagen, EVP Global Information Services, and continued:

“After careful consideration and positive feedback from key stakeholders we are introducing the C25 as a better-suited indicator for the Danish equity market.”

The change will mean that after December 2017, the leading Danish index will have five additional index constituents, which will mark a return to the original KFX 25 constituent format from 1989. The change also means that more companies will be eligible for inclusion into the leading Danish stock index.

The selection rules for the C25 will rank all Danish listed shares according to free float adjusted market capitalization. The top 35 shares will constitute the C25 basic portfolio. Out of this, the top 25 shares with the highest turnover during six months will be included into the C25 active portfolio.

What are the technical details? The new Copenhagen 25 index (OMXC25) indexes will be disseminated in GIDS and Genium Consolidated Feed (GCF) every second during trading hours. Index weights data will be available in Global Index Watch (GIW) and GIFFD. The OMXC25 indexes will be included in data entitlements that include existing OMXC20 indexes.

Source: GIC (Id: 1)

Where can I find additional information? 

If you have questions or require further information, please contact Nasdaq Global Index Operations, telephone +46 8 405 62 96, or indexsupport@nasdaq.com for assistance.