The America’s Community Bankers NASDAQ IndexSM is a market-value weighted index made up of over 500 NASDAQ-listed financial institutions. The initial value of the Index was set at 250 on December 2, 2003. Eligible banks and thrifts or their holding companies will be added to the index semiannually on June 1 and December 1, and will be determined based on companies listed on NASDAQ at the end of the preceding month that meet Index criteria.
NASDAQ disseminates values for most indices at 15-second intervals from 09:30:15 to 17:16:00 via the Index Details message (Category I – Type I). From 09:30:15 to 16:01:30, NASDAQ calculates and disseminates current values for the indices using the current last sale price from the NASDAQ market center for the component securities. Please note that, under the NASDAQ trade reporting rules, market participant firms may cancel or correct trades that could impact the closing price for component securities until 17:15:00. To ensure that the final value is accurate, NASDAQ recalculates and disseminates the closing value for its indices from 16:01:45 to 17:16:00.
The eligibility criteria and constituents of the America’s Community Bankers NASDAQ Index are provided by America’s Community Bankers (ACB), a national trade association for community banks:
The index includes all NASDAQ listed banks and thrifts or their holding companies (HCs) with Standard Industry Codes 6020, 6021, 6022, 6035, or 6036 (or that ACB determines should be classified as such), and excludes (1) any of the 50 largest banks or thrifts based on asset size (and their HCs), as determined by the most recently available call report data as compiled by the Federal Deposit Insurance Corporation (FDIC), (2) any banks or thrifts classified as having an “international specialization,” as determined by the most recently available call report data as compiled by the FDIC, provided that such institutions constitute the majority of assets if in a HC, and (3) any banks or thrifts classified as having a “Credit-card Specialization,” as determined by the most recently available call report data as compiled by the FDIC, provided that such institutions constitute the majority of assets if in a HC.
In addition to the Index Detail message, NASDAQ will support the following messages on the NIDS data feed for ACBQ:
- Index Directory Messages (Category A – Type I) - This message will provide the index identifier, index name, market value, adjusted base period market value (ABPMV) and the index base value.
- Issue Symbol Participation Messages (Category A – Type W) - This message will provide the issue symbol; issue name, and current index weightings (TSO or DRM) for NASDAQ listed issues.
Historical index component information is available on the American Community Bankers website www.acbankers.org
