Euronext Launches BEL Mid And BEL Small Indices

As part of its drive to overhaul and harmonise its listing structure and thus raise the visibility and liquidity of small and mid cap stocks traded on its markets, Euronext will launch the BEL Mid and BEL Small indices in Brussels on 1 March 2005.

1- BEL Mid index

Consistent with its range of local midcap indices, Euronext Brussels launches the new BEL Mid index, with component stocks selected on the basis of both liquidity and free float.

The BEL Mid index is made up of stocks not included in the BEL20 index¹, having a higher free float market capitalisation than the level of the BEL 20 index multiplied by EUR 50,000, and a free-float velocity of at least 10%. No single stock may represent more than 10% of this index.

The BEL Mid index includes 33 companies. It thus covers a wide range of representative and diversified mid-caps, with an average market capitalization of EUR 1.1 billion and a minimum of around EUR 200 million.

The level of the former Belgian Midcap return index at 31 December 2004 (= 2631.03) is the base of this new price version of this index.

Review will occur quarterly at the end of February, May, August and November, for application at the beginning of April, July, October and January, respectively.

2- BEL Small index

As with the BEL 20 and BEL Mid indices, BEL Small index components are selected on the basis of liquidity and free float capitalization.

This index is made up of stocks whose free-float market capitalization lies between the level of the Bel20 index multiplied by EUR 5,000 and the Bel20 multiplied by EUR 50,000. Free-float velocity must be at least 10%, and the weight of individual shares is capped at 10%.

The BEL Small index is composed of 46 companies having an average market capitalization of EUR 126 million, with a minimum of around EUR 30 million.

The level of the current Belgian Smallcap return index at 31 December 2004 (= 4999.83) is the base of this new price version of this index.

Review will occur quarterly at the end of February, May, August and November for application at the beginning of April, July, October and January, respectively.

Both indices will be calculated continuously and will be available on the Euronext website at the address: http://www.euronext.com/trader/marketwatch/0,5372,1732_4330322,00.html

3 - Operational switch to a single regulated market

As previously announced, these changes are part of a general overhaul of Euronext’s listing structure, including a move to a single regulated market. On each market, stocks will be transferred to a single list. On Euronext Paris, stocks listed on regulated markets were transferred to this new list on 21 February 2005. This switch will take place on 4 April 2005 in Amsterdam, Brussels and Lisbon.

¹As an exception the five BEL 20 companies on which the current grandfather clause applies, are also included.

Attached documents
Back history belgian indices
Bel Mid and Bel Small components