SIX broadens its index business with new global equity indices for financial institutions, reducing administrative burdens and offering more precise market performance insights.
KEYSTONE/Ennio Leanza
SIX is expanding its index business. The Swiss stock exchange operator now offers its clients global equity indices.
According to a press release issued by SIX on Tuesday, financial institutions need an overview and more precise information on the performance of equity markets. The offering also reduces the administrative burden for the majority of clients.
Companies would then no longer have to subscribe to several sources for equivalent indices. The newly launched share indices have been specially developed for retail banks and asset managers.
They are divided into two categories: the “SIX World” indices and the “SIX Broad & Blue Chip” indices. The “World” indices have a variable number of components and are intended to reflect important geographical regions.
The indices are reviewed every six months in June and December and their components are weighted according to the market capitalization of the free float. They are calculated in US dollars, euros, and Swiss francs and transmitted at the end of each day.
API Access Soon:
The “blue chip” indices – for markets such as Germany, France, or the USA – comprise indices with a fixed number of the most important companies. The frequency of the new weighting is individual, but usually takes place quarterly, annually, or semi-annually.
The index components are mainly weighted according to the market capitalization of the free float; some indices are also offered on a price-weighted basis. The “blue chip” indices are available to users intraday with a delay of 15 minutes.
With the launch on Tuesday, SIX can technically deliver the new indices to its customers via an API interface (Application Programming Interface). This type of access should be possible for the existing Swiss indices (SMI/SPI/SBI/SARON), the Spanish (IBEX35), Nordic, and ESG indices in the coming weeks.
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