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NYSE Euronext today announced an enhanced methodology for the NYSE Arca Gold Miners Index (GDM), the preeminent index covering the gold mining industry. For the first time ever, the index will include non-U.S. listed companies and set a minimum market capitalization requirement of $750 million for component companies. The changes will be enacted at the next index rebalance effective before the open on Monday, September 23, 2013.
“The NYSE Arca Gold Miners Index is the leading benchmark covering the gold mining industry for the community of market participants and exchange traded product issuers on our exchange,” said Dwijen Gandhi, managing director, Global Index and Exchange-Traded Products. “These changes are indicative of the growing demands by clients who want exposure to a global universe of larger-cap gold mining companies.”
The NYSE Arca Gold Miners Index is a modified market capitalization weighted index comprised of publicly traded companies primarily involved in the mining of gold and silver in locations around the world.
Below are the key changes to the NYSE Arca Gold Miners Index methodology:
- access to non-U.S. listed companies, ensuring component diversity and international exposure;
- new index components must have a minimum of $750 million in market capitalization;
- prioritization of U.S. cross-listings, American Depository Receipts and Global Depository Receipts for international companies;
- implementation of a buffer zone around the $750 million market capitalization and other trading requirements to reduce turnover during quarterly rebalances.
The rebalance and methodology changes will result in the following companies being added to or deleted from the NYSE Arca Gold Miners Index effective for Monday, September 23, 2013:
| ADDITIONS | DELETIONS | ||||||
| Alacer Gold Corp | Allied Nevada Gold Corp | ||||||
| Alamos Gold Inc | Golden Star Resources Ltd | ||||||
| Argonaut Gold Inc | Seabridge Gold Inc | ||||||
| Centamin PLC | Silver Standard Resources Inc | ||||||
| Detour Gold Corp | Tanzanian Royalty Exploration Corp | ||||||
| Dundee Precious Metals Inc | Vista Gold Corp | ||||||
| Franco-Nevada Corp | |||||||
| G-Resources Group Ltd | |||||||
| McEwen Mining Inc | |||||||
| Newcrest Mining Ltd | |||||||
| Osisko Mining Corp | |||||||
| Sibanye Gold Ltd | |||||||
| Zhaojin Mining Industry Co Ltd | |||||||
| Zijin Mining Group Co Ltd | |||||||
Please click here for the full revised methodology to the NYSE Gold Miners Index and here for the trader notice.
Log on to NYSE Euronext’s Global Index Group for more information about trends in the index space.
Background on NYSE Euronext’s Indices:
With a collective portfolio of over 750 benchmark indices, NYSE Euronext is a leading provider of indices. NYSE Euronext develops proprietary indices to provide investors and issuers with benchmarks that measure performance of key segments of the world economy. NYSE Euronext indices are available to be licensed as the basis for tradable products, including Exchange-Traded Funds (ETFs), to be launched in the future. For more information on NYSE Euronext index services please visit: https://indices.nyx.com/
NYSE Euronext®, AEX®, AEX-Index®, AMX-Index®, BEL 20®, CAC®, CAC 40®, PSI 20®, NYSE®, NYSE U.S. 100 Index®, NYSE Arca®, NYSE Composite Index® , Intellidex® and StrataQuant® are registered trademarks of NYSE Group, Inc., Euronext N.V. or their subsidiaries.
