Gielda Papierow Wartosciowych w Wrszw : Change of Terms and Dates for WIG20, mWIG40, sWIG80 and WIG30 Index Rankings

2016-01-15 16:08:01

Warsaw, 15 January 2016

Change of Terms and Dates for WIG20, mWIG40, sWIG80 and WIG30 Index Rankings

PRESS RELEASE

• The Warsaw Stock Exchange has implemented modifications of the terms and dates of WIG20, mWIG40, sWIG80 and WIG30 index rankings
  
• The new rules will first apply to the upcoming index revision due in March 2016

Following analyses and consultations, GPW has introduced new terms and dates of the classification of companies in the main exchange indices.

According to the new terms, the ranking for the annual revision and the quarterly adjustment of WIG20, mWIG40, sWIG80 and WIG30 will be defined four weeks before the relevant change. Index portfolios after an annual revision or quarterly adjustment will be published two weeks before the change. The dates of portfolio adjustments remain unchanged, falling after the trading session on the third Friday of March for the annual revision and the third Friday of June, September, and December for the quarterly adjustment.

The trading parameters defined for the ranking will remain unchanged, based on data for the last 12 months. However, the capitalisation of free-float shares will be defined randomly, based on the closing price in the last five days before the date of the ranking. A new criterion of free-float capitalisation will be added: companies in the last quartile by free-float capitalisation will not be included in the ranking.

The table below presents a comparison of the existing and the new process.

Process	Now	After the change
Date of the ranking for annual revision and quarterly adjustment	After the last trading session in January, April, July, and October	4 weeks before the change
Date of portfolio publication after annual revision or quarterly adjustment	5 weeks before the change	2 weeks before the change
Date of portfolio change in annual revision	Third Friday of March, June, September, and December	Third Friday of March, June, September, and December
Ranking parameters	Trading in the last 12 months, free-float capitalisation at the ranking date	Trading in the last 12 months, free-float capitalisation random at a price selected from the last 5 trading sessions before the ranking date
Free-float capitalisation criterion	None	Companies in the last quartile of free-float capitalisation not included in the ranking

The new rules will first apply to the annual revision of the main exchange indices. The index ranking will be defined after the trading session on 19 February 2016 and the details of the change will be published after the trading session on 4 March 2016.

'The modifications are designed to create exchange index portfolios based on the most recent data in line with the trends set by other exchanges and the proposals of market participants,' said GPW Vice President Grzegorz Zawada.

The current timetable of index operations is available on the GPW website at http://www.gpw.pl/indices_calendar

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Warsaw Stock Exchange (GPW) is the biggest securities exchange in Central and Eastern Europe. GPW operates a regulated market of shares and derivative instruments and the alternative stock market NewConnect for growing companies. GPW is developing Catalyst, a market for issuers of corporate and municipal bonds, as well as commodity markets. Since 9 November 2010, GPW is a public company listed on Warsaw Stock Exchange. For more information visit http://www.gpw.pl