Nasdaq Copenhagen Introduces C25 as New Leading In
Post# of 301275
Copenhagen, December 05, 2017 — Nasdaq (Nasdaq: NDAQ ) announced today that OMX Copenhagen 25 (OMXC25) is the new leading index for the Nasdaq Copenhagen exchange beginning Monday December 18. The C25 is a capped index of the 25 most traded shares in the Danish market with the largest free float adjusted market capitalization. The C25 will replace the C20CAP (OMXC20CAP) as Nasdaq’s leading index for the Danish market when the new portfolio selection becomes active on Monday December 18.
Nikolaj Kosakewitsch, President of the Nasdaq Copenhagen exchange, Vice President of Nasdaq Nordic Equities and Derivatives said: “A bigger market requires a bigger index. In five years the listed market capitalization on Nasdaq’s Danish main market has more than doubled from DKK 1,300 billion to DKK 2,900 billion, the number of listed large cap shares has increased from 24 to 42, and liquidity measured in turnover has doubled from DKK 2.4 billion in average daily turnover to DKK 5.8 billion. This calls for a fundamental change in order to maintain a truly representative and tradable index.”
Bigger index, better balance
The addition of five new index constituent shares will ensure a more balanced index, which more accurately will represent the movement of the market and minimize single stock or single sector impact. This will improve the bellwether function of the flagship index.
Bjørn Sibbern, Executive Vice President of Nasdaq Global Information Services said: “When people ask how the markets are doing, they turn to our leading indexes for answers. The Danish leading index is an important bellwether for the Danish equity market and a valuable flagship for Nasdaq in Denmark. Leading indexes are also important tools for investment products, which will now have broader sector coverage while retaining the intrinsic value of a defensive index.”
With the switch the C25 index future will become the new leading index future just as Exchange Traded Products and Danish Investment Funds should refer to the C25 if issuers seek to reference the largest and most liquid Danish shares.
To learn more go to Nasdaq MarketInsite
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Media Relations Contact: + Javier Lopez Garrido + +45 51 71 45 71 + javier.lopez@nasdaq.com |