TALLINN - The Tallinn, Riga and Vilnius stock exchanges will adopt new indexes under unified rules as of Dec. 4, 2006, the exchange announced. The new indexes will provide investors with tools for evaluating investment opportunities on the Baltic securities market.
The new All-Share, Benchmark, Tradeable and Sector indexes will mark another milestone in the creation of an integrated Nordic and Baltic securities market.
The new OMX Baltic indexes will be calculated in euros and as price (PI) and gross (GI) indexes. The OMX Baltic-ten will only be available as a price index.
The local all-share indexes OMX Tallinn, OMX Riga, and OMX Vilnius will continue to be calculated. Only the BALTIX index will be discontinued after June 30, 2007 and replaced by the portfolio index called the OMX Baltic Benchmark. Historical time series will be available as from Dec. 31, 1999.
The OMX Baltic Benchmark (OMXBB) is an investor portfolio index covering the largest and most traded stocks on OMX's Baltic Market. The OMXBB represents all sectors, as they are classified according to GICS (Global Industry Classification Standard) classification. The weight of OMXBB stocks is based on market value adjusted by free float. It will be available in a capped and uncapped version.
The OMX Baltic-ten (OMXB10) is a tradeable index based on the ten most actively traded shares on OMX's Baltic Market. The weight of OMXB10 stocks is based on market value adjusted by free float. A company's maximum weight in the index is 15 percent.
OMX Baltic (OMXB) is an all-share index consisting of all the shares listed on the Main and lists of OMX's Baltic Market.
The OMX Baltic sector indexes will be based on the Global Industry Classification Standard (GICS) developed by Morgan Stanley Capital International Inc. (MSCI) and Standard & Poor's.