Athens Exchange and Istanbul Stock Exchange jointly announce today the issue of a common index, under the auspices of the global index provider STOXX Ltd.
The Greece & Turkey 30 Index (GT-30) is a STOXX customized index and is proprietary of STOXX Ltd. The new Index will become an additional investment tool for retail and institutional portfolios, aiming to gain exposure to the upper and most liquid tier of the two markets.
The Index aims to facilitate cross border access between the two markets. It is a high priority for both exchanges to create new products, such as Exchange Traded Funds (ETFs) and derivative products, based on this new index, which will be listed and traded on both markets.
The new Index will be calculated, maintained and distributed by STOXX LTD.
Fifteen (15) stocks from each market will participate in the composition of the index, based in their full market capitalization in descending order. The number of stocks from the banking sector will be limited to four (4) from each market. A capping factor of 10% will be applied to Index constituents.
The Index will be reviewed biannually (March, September) as to its composition and four times per year (March, June, September and December) regarding capping factors.
The following documents are for information purposes only:
- 28/09/2009: "CT-30" Index FactSheet
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