Stockholm Stock Exchange 16 Index
The series of indexes published by the Stockholm Stock Exchange comprises 13 indexes altogether:
- SX Composite (General) Index
- SX-O and 9 industry indexes pertaining to the following branches with a total of 123 companies engineering, forestry, chemicals and pharmaceuticals, miscellaneous manufacturing, wholesale and retail trade, service industry, real estate and construction, holdings, and banking and financial services.
The SX Composite Index, the SX-OTC and the SX-O are based on disjoint sets of stocks which are constituted by the respective market segment the indexes are referring to, viz. the official market segment (AI and AII), the over-the-counter market segment, and the unofficial market segment. The SX-16 is based on the 16 most actively traded stocks listed in the official market segment.
The indexes are constructed as a chain-linked capitalization-weighted price index of the value ratio type that employ the latest paid price. If there is no paid price available, the bid price is used. If there are neither paid nor bid prices available, the paid price of the previous day, or, if that does not exist, the bid price of the previous day is used.
Adjustment procedures account for the inclusion of new stocks (starting the earliest on the second day after registration), stock dividends and stock splits, secondary offerings, issuance of new classes of stock, convertible bonds and warrants with preferential rights for existing shareholders, and the conversion of bonds or the exercise of options. The following events, by contrast, do not prompt action: Dividend payments, the sale of assets such as stock in subsidiaries (spin-off) to shareholders, the issuing of convertible bonds or warrants without preferential rights for existing shareholders, and the (temporary) suspension from trading.
Stockholm Stock Exchange SX-16 Index: Stockholm Stock Exchange. Text: Institute for Advanced Studies, Vienna, 1998. All rights reserved.
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