STOXX, a leading provider of innovative, tradable and global index concepts, today announced the launch of the iSTOXX Europe Centenary and iSTOXX Europe Centenary Select 30 indices. This unique index concept selects companies from the well-known STOXX Europe 600 Index which have been founded more than 100 years ago. The iSTOXX Europe Centenary Select 30 Index methodology also ads screens for dividend yields and liquidity.
“With the launch of the iSTOXX Europe Centenary Indices, we are offering market participants an index concept to filter the companies in Europe’s most well-known benchmark for those who have been founded over 100 years ago, and are thus recognized as well established and trusted firms,” said Hartmut Graf, chief executive officer, STOXX Limited. “The iSTOXX Europe Centenary Select 30 Index additionally applies a series of sophisticated liquidity and dividend screens, making it an innovative addition to our suite of iSTOXX index concepts constructed for structured products.”
The index universe for the iSTOXX Europe Centenary Index is the STOXX Europe 600 Index. From the index universe, companies are selected that were founded more than 100 years ago. These companies are then weighted by free-float adjusted market capitalization to form the index.
The index universe for the iSTOXX Europe Centenary Select 30 Index is the iSTOXX Europe Centenary Index. Companies must come from countries with sufficient weights in the STOXX Europe 600 Index, have a high liquidity and a maximum beta of 1.5 to the EURO STOXX 50 Index. A company is eligible if it is among the 20 largest companies by beta with a dividend ex-date in the next month, or is a company without a dividend ex-date in the next month. The highest ranked 30 companies by beta are selected for the index by applying sector constraints. All constituents from the iSTOXX Europe Centenary Select 30 Index are weighted according to their three-month ADTV.
Both new indices are reviewed on a monthly basis. New compositions are implemented after the third Friday of each month. They are calculated in euro and US dollars, and available in price, net and gross return versions. Daily historical data is available from Dec. 23, 2002.