The semi-annual review of the Austrian leading index ATX neither results in changes to the composition nor the free float factors. Verbund AG replaces Andritz AG in the ATX five, which comprises the five largest Austrian listed companies. The power producer overtook the technology group in plant construction in terms of free float capitalization. The five largest companies on the Vienna Stock Exchange are: Erste Group AG, OMV AG, Verbund AG, Raiffeisen Bank International AG and voestalpine AG. The new composition of the ATX five will take effect on 23 September 2019. The next review of the free float factors is scheduled for 3 December 2019. The composition of Austrian indices will be reviewed again in March 2020.
The calculation of the ATX is based on a purely quantitative procedure. According to “The Rules for the Austrian Indices of the Vienna Stock Exchange”, the inclusion or exclusion of stocks from the Austrian indices is reviewed twice a year (March and September). Decisions on new additions to the index are based on average daily trading volumes and the free float capitalization of companies. The Vienna Stock Exchange reviews the calculation parameters (number of shares, free float factors, representation factors) of the index on a quarterly basis. Once a month, the ATX watchlist is published. Representatives of institutional investors, financial institutions that issue financial products on the indices, trading members of the Vienna Stock Exchange, academics advisors and the Vienna Stock Exchange contribute their know-how to the Index Committee, which approves the index rules. A list of the Committee members is available here.
