|
|
|
|
|
|
|
Home | Stocks | Futures | FOREX | Free Trial | Software Presentations | Knowledge Base | Download | Contact | Purchase | World Exchange Clock  |
|
|
|
|
|
|
|
Home | Stocks | Futures | FOREX | Free Trial | Software Presentations | Knowledge Base | Download | Contact | Purchase | World Exchange Clock |
|
|
Region |
Indices |
|
Asia Pacific |
Australia - S&P/ASX 200 |
|
Europe |
France - CAC 40 |
|
USA |
Commodities - Bridge/CRB Futures Index |
Bridge/CRB Futures Index
The Bridge/CRB Futures Index is a broad index of commodity prices as
calculated from prices in the futures market.
First published by Commodity Research Bueau Inc. in 1957, using 28
futures markets and 2 spot markets, the Index has undergone 9
revisions in its composition since then, in an effort to stay
relevant. Many other commodity indices are published, but the CRB
Index remains the one most quoted.
The last revision in 1995 saw the Index reduced to 17 markets across
6 groups:
Softs - Cocoa, Coffee, Orange Juice, Sugar
Energy - Crude Oil, Heating Oil, Natural Gas
Livestock - Lean Hogs, Live Cattle
Industrials - Copper, Cotton
Precious Metals - Gold, Platinum, Silver
Grains & Oilseed - Corn, Soybeans, Wheat
The Index is calculated by first producing an average price for each
market across a number of delivery months (in this way the Index is
an average across time as well as across sectors). For instance, the
average for Cotton might be the average of the March, May and July
delivery month prices. This calculation is based on a minimum of 2
and a maximum of 5 delivery months extending out to a limit of 6
calendar months from the present. Once the arithmetic average for
each market is determined, the prices are all mutiplied together and
then a geometric average for the whole is derived by taking the 17th
root. This number is adjusted by the 1967 base year average and
further adjusted to account for all revisions since then before being
finally converted to a percentage figure.
The New York Board of Trade offers a futures contract over the CRB
Index, which in effect is a futures contract based on other commodity
futures prices.
CAC 40
The CAC-40 consists of 40 of the leading stocks on the Paris Bourse,
as measured by market capitalisation and turnover.
The Index is based on a value of 1000, as at the base value date,
December 31, 1987.
DAX 30
The DAX (Deutsche Aktienindex) covers 30 blue-chip stocks from The
Frankfurt Stock Exchange and is published by the Deutsche Boerse
Group, of which the exchange is a subsidiary.
The DAX differs from most international market indices in that it is
a performance index rather than a price index. Dividends and rights
issues are folded back into the calculation, so as to measure total returns.
The Index is based on a value of 1000, as at the base value date,
December 30, 1987. The original DAX Index was based solely on floor
trading. The XETRA DAX incorporates price information from XETRA, the
exchange's electronic share trading platform.
DAX futures are traded on the Eurexchange.
Dow Jones EuroSTOXX 50
STOXX Limited, which publishes the Dow Jones STOXX family of indices,
is a partnership between Deutsche Boerse AG, Euronext Paris, the
Swiss Exchange and Dow Jones & Company. The Euro STOXX 50 is made
up of 50 blue-chip stocks drawn from the 10 Eurozone exchanges
(exchanges linked by having the Euro as a common currency).
The major success of the EuroSTOXX 50 futures contract traded on
Eurex has meant that the underlying index is now the most important
in Europe.
Dow Jones Industrial Average
Introduced by Charles Dow in 1896 (and published in his Wall Street
Journal from that year) the first Average consisted of 12
long-forgotten stocks. It was originally calculated in a very
straight-forward fashion - the prices of the constituent stocks were
simply added together and then divided by 12. The DJIA is a
narrowly-based, price-weighted average, so movements in a few
higher-priced stocks can affect it disproportionately.
The 30 stocks that presently constitute the Dow represent the
established elite of American Industry and read like a who's who of
famous brand names - McDonalds, Coca-Cola, American Express, Johnson
& Johnson, IBM etc. These 30 stocks account for about a fifth of
the market value of all American stocks. The latest significant
component changes occurred in November 1999, when the Nasdaq-listed
Microsoft and Intel were introduced as the first Dow stocks not to be
traded on the Big Board. In spite of these changes, the Dow remains
very much an "old economy" index, in contrast to the Nasdaq
100. But its long history and close association with market folk-lore
assure it of continuing popularity, whatever shortcomings it may have.
In 1997, the Chicago Board of Trade introduced a futures contract
based on the Dow.
FTSE 100
The Financial Times/Stock Exchange 100 Index is the leading index of
U.K. stocks. It is a capitalisation-weighted index composed of the
top 100 U.K. companies as ranked by market value. The weightings of
the constituent stocks are re-calculated on a daily basis and the
composition of the Index is reviewed quarterly.
The Index is based on a value of 1000, as at the base value date,
December 31, 1983.
FTSE 100 futures are traded on LIFFE.
Hang Seng
The Hang Seng Index is a capitalisation weighted index published by
Hang Seng Services Ltd, a wholly owned subsidiary of Hang Seng Bank.
It is the best known barometer of the Hong Kong market.
The Index is currently composed of 33 stocks, drawn from 4 industry
groupings. These stocks account for about three quarters of the
market value of all stocks traded on the Stock Exchange of Hong Kong.
To be eligible for the index, a company must be defined as a local
company by the SEHK and must have been listed for at least two years.
The index is covered by a liquid futures contract traded on the Hong
Kong Futures Exchange.
NASDAQ 100
The Nasdaq 100 features the largest of the Nasdaq-listed stocks, with
financial stocks excluded. To be eligible, stocks must have been
listed for a "proving" period of at least two years and
must have an average trading volume of at least 100,000 shares.
In 1996, the CME introduced a Nasdaq 100 futures contract and
complemented this with a "mini" contract in 1999.
NASDAQ Composite
The Nasdaq Composite Index is a capitalisation-weighted index that
measures the value of all common stocks (over 5,000 in number) traded
on the Nasdaq Market.
The Nasdaq Stock Market (so named in 1990) developed from the
National Association of Securities Dealers Automated Quotation
network to become the world's first all-electronic stock exchange. By
hosting such major technology isues as Microsoft, Cisco Systems, Dell
Computer and Intel, it managed to surpass the New York Stock Exchange
in volume of shares traded in 1994.
Nemax 50
In 1997, Deutsche Boerse AG created the Neuer Markt, a sector of the Frankfurt Exchange dedicated to flegling high technology stocks. The Nemax 50 represents the top 50 of these stocks as measured by turnover and market capitalisation. There are two Nemax 50's - one a price index and the other a performance index. The futures contract at Eurex is based on the performance index.
Nikkei 225
The Nikkei 225 is published by Neihon Keizai Shimbun Inc. (Nikkei),
the largest publisher of business news and information in Japan.
Its Nikkei 225 Index was formerly called the Nikkei-Dow (until 1985),
in deference to its method of calculation, which follows the Dow
Jones averaging principle. Like the Dow, the Index is price-weighted.
Therefore, like the Dow, it is often criticised for being being
outdated, but that doesn't stop people from following it.
The Index dates back to May 16 1949, with a base value of 100. In
1991, new deletion rules were introduced to ensure that the component
stocks were sufficiently liquid. The Index is checked annually and a
maximum of 6 stocks can be replaced every year. The 225 stocks are
drawn from The Tokyo Stock Exchange's "first section" and
represent 36 industry groupings.
In 1986, the Singapore International Monetary Exchange introduced a
successful futures contract based on the Nikkei 225. In 1993, the
value-weighted Nikkei 300 was first published, but the 225 continues
to be the market's favourite.
NYSE Composite
The NYSE Composite Index measures the aggregate value of all the common stocks listed on the Exchange. The Index is based on a base value of 50, at the base value date, December 31, 1965.
S&P 100
The S&P 100 is a blue-chip index, widely known by its Chicago Board Options Exchange ticker code as the OEX. Options over the OEX were first listed as a revolutionary derivatives product in 1983. The Index remains of central importance by providing the basis for the world's most heavily traded options contract.
S&P 500
The S&P 500 Index, while perhaps not as widely loved as the Dow
Jones Industrial Average, is followed more closely by market
professionals and remains the key index for the performance of
American stocks.
It was introduced by Standard and Poor's as the S&P 90 in 1928,
being the first index weighted by market capitalisation. This means
that each stock's weighting in the index is proportionate to its
market value (its price multiplied by the number of shares outstanding).
There are always 500 stocks in the Index, a new one being selected by
Standard and Poor's Index Committee when an existing one is delisted
as a result of financial failure, merger, acquisition, re-structuring
or similar. Stocks are selected according to their liquidity and size
as well as to ensure proper representation from various industry
groups. About 90% of the stocks are drawn from the New York Stock
Exchange with the remainder coming from the newly merged Nasdaq/Amex.
In the early 1980's, the Chicago Mercantile Exchange secured the
licensing rights to base a futures contract around the S&P 500.
By the end of the decade, the daily value of trade in this contract
exceeded the daily value of all stocks traded on the floor of the New
York Stock Exchange, further cementing the index's status as the
industry benchmark.
S&P/ASX 200
The Standard & Poors/Australian Stock Exchange 200 is a relatively new index for the Australian market, having been established in 2001 to represent the top 200 companies. The index was converted from a capitalisation-weighted index to a free float (liquidity)-based index on 1 October 2002.
Straits Times Index
The Straits Times Index comprises of 55 stocks, value-weighted, on the Singapore Exchange and came into effect on 31 August 1998. This index replaced the previous Straits Times Industrials Index.
|
©2004 Maddock Data International, All
Rights Reserved | Privacy
Policy |
Stocks
- World Indices