CROBEX
CROBEX10
CROBIS
Turnover
 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Index | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CROBEX® is the official Zagreb Stock Exchange share index. The ZSE started publishing it on September 1, 1997. The base date of the index is July 1, 1997 and the base value is set on 1000. Type of index CROBEX® is weighted by free float adjusted market capitalization. The weight of any individual issuer in CROBEX® is limited to 15% of the index capitalization. If a stock was not traded on the given day, the previous last price is used. Calculation Continuous calculation during the trading session. Last prices are used for the calculation. Calculation formula 
Selection criteria Stocks which were traded on more then 90% of the available trading days in the previous six month period are qualified for CROBEX® selection. In the selection process stocks are ranked by the following two criteria: 1. free float market capitalization 2. orederbook turnover in preceding 6 month period. The free float market capitalization in percent and the turnover in percent are each given a weighting of 50% and so called market share is calculated. Stocks are ranked by the market share and the top 25 stocks are selected to be included into the CROBEX® index. Companies with more then one stock issues listed on Zagreb Stock Exchange will not be included more than once in CROBEX® index. Issue with the highest rank will be selected for inclusion into the CROBEX®. Tolerance zone In order to ensure the stability of the index 23/28 tolerance zone is applied. Stocks ranked between 1st and 22nd place are admitted directly. Three remaining stocks are selected from stocks ranked between 23th and 28th place keeping in mind that stocks with higher rank from the current composition of CROBEX® are qualified first. Free float Following is not considerd as free float: • ownership stakes exceeding 5% • treasury stocks. If free float is less than 20% it is rounded off to the nearest 1%. If free float is above 20% it is rounded up to the nearest 5%. Revisions Revisions of CROBEX® are carried-out twice a year: third Friday in March and September. Due to certain unpredictable corporate events, such as bankruptcy or liquidation of company, reduction of equity capital, takeover, merger, delisting etc., the Index Committee can decide to review the composition of CROBEX® between regular revisions. Stock excluded from CROBEX® will be replaced with non-component stock with highest market share. Fast entry The Index Committee can decide to eview the composition of CROBEX® if newly listed stocks in first 30 trading days meet following criteria: • have to be traded on 100% of the available trading days in the first 30 trading days; • have to be in top 15% of equities ranked by free float market capitalization; • turnover greater then 0.75% of equity turnover in the first 30 trading days Composition From March 22nd 2010, stocks from 25 companies are included in the CROBEX®
Base adjustment In order to keep the index comparable over time it is necessary to adjust the base in the case of inclusion of new stocks into the index, exclusion of stocks from the index and whenever there is a change in the number of shares that results in the change of market capitalization of the index. The adjustment of the base occurs after the close of trading on day T and before calculation of index on day T+1. The formula for adjusting the base is following: 
CROBEX10© is the official Zagreb Stock Exchange share index. The ZSE will start publishing it on September 7, 2009. The base date of the index is July 31, 2009 and the base value is set on 1000. Type of index CROBEX10© is weighted by free float adjusted market capitalization. The weight of any individual issuer in CROBEX10© is limited to 20% of the index capitalization. If a share was not traded on the given day, the previous last price is used. Calculation Continuous calculation during the trading session. Last prices are used for the calculation. Calculation formula
Selection criteria CROBEX10© is comprised of 10 top securites included into CROBEX® index in term of free-float market capitalization and liqudity. In the selection process all CROBEX® securities are ranked by the following two criteria: 1. free float market capitalization 2. orederbook turnover in preecing 6 month period The free float market capitalization in percent and the turnover on percent are each given a weighting of 50% and so called market share is calculated. CROBEX® securities are ranked by the market shera and the top 10 securites are selected to be included into the CROBEX10© index. Securities where 75% of the share capital is owned by a single shareholder are not qualified for CROBEX10© selection. Composition CROBEX10© is comprised of 10 shares.
Free float Following is not considerd as free float: • ownership stakes exceeding 5% • treasury shares If free float is less than 20% it is rounded off to the nearest 1%. If free float is above 20% it is rounded up to the nearest 5%. Tolerance zone In order to ensure the stability of the index 8/12 tolerance zone is applied. Shares ranked between 1st and 8th place are admitted directly. Two remaining shares are selected from shares ranked betwwed 9th and 12th place keeping in mind that shares with higher rank from the current composition of CROBEX10© are qualified first. Revisions Revisions of CROBEX10© are carried-out twice a year: fourth Friday in March and September. Due to certain unpredictable corporate events, such as bankruptcy or liquidation of company, reduction of equity capital, takeover, merger, delisting etc., the Index Committee can decide to review the composition of CROBEX10© between regular revisions. Announcement: CROBIS® Revision CROBIS® is the official Zagreb Stock Exchange bond index. The ZSE started publishing it on October 1, 2002. The base date of the index is September 30, 2002 and the base value is set on 100. Type of index CROBIS® is price index weighted by market capitalisation. The weight of any individual bond issue in CROBIS® is limited to 35% of the index capitalization Calculation Once a day after the close of trading session. Average daily prices weighted by traded volume, are used for the calculation. If a bond was not traded on the given day, the previous average price is used. Calculation formula 
CROBIS® constituents At the moment, there are 9 bonds included in the CROBIS®
Selection criteria The bonds eligible for inclusion within CROBIS® are following: 1. bonds with minimum nominal value of 75 million €; 2. bonds with time to maturity of at least 18 months; 3. bulleted bonds with fixed interest rates. Revisions Revisions of CROBIS® are carried-out four times a year: last Friday in February, May, August and November. Bond is excluded from the index if its time to maturity will drop below 6 months in the next three months prior to the next revision. In urgent cases the Index Committee can make decision on revision outside the scheduled adjustment date.
|
 |
|
|
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||
