December 1 (SeeNews) - The Ljubljana Stock Exchange (LJSE) said it will adopt a new index methodology and will rename its stock gauges as of next year.
The aim is to make the indices more market-oriented and to align standards within the CEESEG Composite Index (CEESEG), the LJSE said in a statement posted on its website on Monday.
The CEESEG is a capitalisation-weighted price index which is composed of the constituents of the leading share indices of the members of the CEE Stock Exchange Group.
The group comprises the stock exchanges in Vienna, Budapest, Ljubljana and Prague.
"[The seven-share] SBI TOP – Slovene blue chip index: As it gains additional prominence, SBI TOP will become the leading LJSE index. By continuing to track LJSE’s top and most liquid securities, it will remain both a benchmark and an underlying for derivative financial instruments," the statement said.
The current 20-share SBI20 index will become a total market index that will include all LJSE-listed shares will be renamed to LJSE Composite.
“By providing information on price movements of all regulated market shares, this index [LJSE Composite] will provide a basis for any analysis of the Slovene capital market as a whole. It will be calculated only once a day, after [the] trading close,” the LJSE said.
The index methodology will be simplified and adjusted to the needs of market products, it added.
“The first index review according to the new methodology will be conducted at the beginning of March 2010, while the changes in composition will be effected after the third Friday in March,” the statement said.
The Vienna bourse owns 81% of the LJSE, 50.45% of the Budapest Stock Exchange and 92.7% of the Prague bourse.
The SBITOP rose 0.63% to 1,013.16 points on Tuesday while the SBI20 firmed 0.68% to 4,207.6.