NYSE Euronext (NYX) today announced the publication of a newly edited version of the rule book for the BEL indices family (www.euronext.com1) which combines the currently separate versions of the rule books of the BEL 20, BEL Mid and BEL Small.
Next to a rearrangement of the current rules, NYSE Euronext implements the following changes aiming at further enhancing the stability and tradability of the BEL indices:
a) Minimum free float percentage of 15% applies for all indices (was 5% for the BEL Mid and BEL Small indices).
b) Minimum level of free float adjusted velocity for entrance in the BEL 20 index is raised to 35% (from 30%) while the minimum for current constituents is set at 30% (was 25%).
c) Minimum level of free float adjusted velocity for entrance in the BEL Mid or BEL Small indices is raised to 15% (from 10%), while the minimum for current constituents remains at 10%.
d) Selection for the BEL Mid index is based on the level of the BEL 20 index multiplied by EUR 55,000 (entry level; the exit level is BEL 20 times EUR 45,000). Currently one level is applied; the new levels will lead to a more stable composition.
e) Selection for the BEL Small index is based on the level of the BEL 20 index multiplied by EUR 5,500 (entry level; the exit level is BEL 20 times EUR 4,500). Currently one level is applied.
f) Companies listed less than 80 trading days may also be included at reviews if the Supervisor has solid indication that their free float adjusted velocity lies sustainably above 35% and provided that the company meets all other criteria for such inclusion.
g) The threshold for the opening if less than 100% of the constituents is open after 5 minutes, is lowered to 70% for the BEL Small.
The new rule book is valid from 1 August 2011.
Index rules are found using this link: http://www.euronext.com/editorial/documentation/wide/documents-1908-EN.html