|Financial Databases and Research|
The AEX index is the index of the Amsterdam EuroNext exchange. The index was formed on 3 January in 1983 and consisted of 13 stocks. Starting on 3 January 1985 the index started using a weighting factor: "As of this date the value of the Amsterdam Exchanges-index (AEX) is calculated by multiplying the price of each stock by its weighting factor. These amounts are then cumulated and divided by one hundred". Since that time the composition and weighting of the AEX index has changed many times.
The last major change has taken place on 20 September 2010 and is called "Rule Change NEIA 2010-122". Essentially thie means the end of the use of a fixed weighting divisor for each stock and the introduction of a Quarterly review cycle. The value of the AEX index is now based on free-float adjusted market capitalisation. The free-float is rounded up to the next multiple of 5%. If a major change in (stocks in) the index now takes place and it affects the weighting divisor a new divisor will be announced.
NB: For the Midkap index (AMX) and the Smallcap index (AScX) this type of rule change has also taken place.
The last composition of the AEX index before the rule change was on 1 June 2010. The weighting factor for Kon. BAM Groep (BAM) was raised to 17.50 as a result of a rights issue.
The First composition and weighting of the AEX according to the new rules is:
Since then the weighting and composition have changed again several times. The value of the AEX index changes each day during the opening hours of the stock exchange. The value is calculated every 15 seconds. An example of this can be downloaded here as an Excel sheet. You can also find more information on the EuroNext website and the Behr website.
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10:26 AM - 18 August 2011
This weblog will deal with all kinds of tips and tricks on the use of several financial databases.
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