Also known as: SOLMLPX Index (Bloomberg) · DE000SLA0XX7 (Solactive code) · .SOLMLPX (RIC)
At a glance
- Weighting schemeCapped market cap
- Constituent count20
- Single cap4.5
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 20 fields | |||
| Rebalancing frequency | Quarterly | Rebalancing Frequency QuarterlyOpen p.4 ↗ |
The index is rebalanced quarterly. |
| Return type | Gross total return | *GTR mean that the Index is calculated as a gross total return INDEX as described in the Equity Index MethodologyOpen p.4 ↗ |
The index is calculated as a gross total return index. |
| Index name | Solactive MLP & Energy Infrastructure Index | Name ISIN Currency Type RIC BBG ticker Solactive MLP & Energy DE000SLA0XX7 USD GTR* .SOLMLPX SOLMLPX Index Infrastructure IndexOpen p.4 ↗ |
The official index name is the Solactive MLP & Energy Infrastructure Index. |
| Index short name | SOLMLPX | DE000SLA0XX7 USD GTR* .SOLMLPX SOLMLPX IndexOpen p.4 ↗ |
The Bloomberg ticker for the index is SOLMLPX Index, and the RIC is .SOLMLPX. |
| Index code | .SOLMLPX | DE000SLA0XX7 USD GTR* .SOLMLPX SOLMLPX IndexOpen p.4 ↗ |
The index RIC is .SOLMLPX. |
| ISIN | DE000SLA0XX7 | DE000SLA0XX7 USD GTR* .SOLMLPX SOLMLPX IndexOpen p.4 ↗ |
The index ISIN is DE000SLA0XX7. |
| Vendor codes | Bloomberg: SOLMLPX Index; Refinitiv: .SOLMLPX | DE000SLA0XX7 USD GTR* .SOLMLPX SOLMLPX IndexOpen p.4 ↗ |
The index is identified by the RIC .SOLMLPX and Bloomberg ticker SOLMLPX Index. |
| Administrator | Solactive AG | The INDEX is owned, calculated, administered and published by Solactive AG (“SOLACTIVE”) assuming the role as administrator (the “INDEX ADMINISTRATOR”) under the Regulation (EU) 2016/1011Open p.3 ↗ |
Solactive AG owns, calculates, administers and publishes the index and acts as its benchmark administrator. |
| Calculation agent | Solactive AG | The INDEX is owned, calculated, administered and published by Solactive AG (“SOLACTIVE”) assuming the role as administratorOpen p.3 ↗ |
Solactive AG calculates and publishes the index. |
| Index family | Solactive MLP & Energy Infrastructure Index | composition, calculation and maintenance of the Solactive MLP & Energy Infrastructure Index (the “INDEX”).Open p.3 ↗ |
The document governs the Solactive MLP & Energy Infrastructure Index. |
| Base date | 2013-05-08 | The INDEX is based on 100 at the close of trading on the START DATE, 05/08/2013.Open p.4 ↗ |
The index starts from a base level at the close of trading on May 8, 2013. |
| Base value | 100 | The INDEX is based on 100 at the close of trading on the START DATE, 05/08/2013.Open p.4 ↗ |
The index is based on 100 at the close of trading on its start date. |
| Currency | USD | DE000SLA0XX7 USD GTR* .SOLMLPX SOLMLPX IndexOpen p.4 ↗ |
The index is calculated in USD. |
| Methodology version | 3.2 | Version 3.2Open p.1 ↗ |
The supplied methodology document is Version 3.2. |
| Benchmark type | Not stated | assuming the role as administrator (the “INDEX ADMINISTRATOR”) under the Regulation (EU) 2016/1011 (the “BENCHMARK REGULATION” or “BMR”).Open p.3 ↗ |
The document states that Solactive is the administrator under the EU Benchmark Regulation but does not classify the benchmark as regulated, significant, or non-significant. |
| Objective | Representation of Master Limited Partnerships (MLPs) and Midstream energy infrastructure | Representation of Master Limited Partnerships (MLPs) and Midstream energy infrastructureOpen p.4 ↗ |
The index represents Master Limited Partnerships and midstream energy infrastructure companies. |
| Market classification | Domestic | Regional Allocation United StatesOpen p.4 ↗ |
The index has a United States regional allocation. |
| Size segment | Custom | MARKET CAPITALIZATION of at least 1,000 million USD for non MLP companies which are not INDEX COMPONENTS on the respective SELECTION DAYOpen p.6 ↗ |
The index uses custom market-capitalization thresholds rather than a named standard size segment. |
| Index family type | Sector | Asset Class Equity Representation of Master Limited Partnerships (MLPs) and Midstream energy infrastructureOpen p.4 ↗ |
The index is an equity sector strategy focused on MLPs and midstream energy infrastructure. |
| Limitations | Solactive gives no explicit or tacit guarantee of index results or index level, strives to ensure correct calculation, has no obligation to advise third parties of errors, and publication is not an investment recommendation. | SOLACTIVE does not offer any explicit or tacit guarantee or assurance, neither pertaining to the results from the use of the INDEX nor the level of the INDEX at any certain point in time nor in any other respect.Open p.3 ↗ |
Solactive does not guarantee index results or levels, has no duty to advise third parties of errors, and publication does not recommend an investment. |
| M2 Universe · 6 fields | |||
| Market watch requirement | Companies must be part of the Market Watch for the Solactive MLP & Energy Infrastructure Index. | Part of the MARKET WATCH for the Solactive MLP & Energy Infrastructure Index which includes companies structured as Master Limited PartnershipOpen p.6 ↗ |
A company must be included in the index's Market Watch to belong to the index universe. |
| Business focus | Owning and operating energy-logistics assets such as pipelines, storage facilities, and assets used in transporting, storing, gathering, and processing natural gas, natural gas liquids, crude oil, or refined products. | with a business focus on owning and operating assets used in energy logistics, including, but not limited to, pipelines, storage facilities and other assetsOpen p.6 ↗ |
Eligible companies must focus on owning and operating energy-logistics and midstream assets. |
| Markets | United States | Regional Allocation United StatesOpen p.4 ↗ |
The index universe is allocated to the United States. |
| Exchanges | — | Listed on a regulated stock exchange in the United StatesOpen p.6 ↗ |
Eligible instruments must be listed on a regulated stock exchange in the United States; no specific exchanges are named. |
| Security types | Other | Structured as Master Limited Partnership, an affiliate corporation of an MLP company or a midstream Energy Infrastructure CompanyOpen p.6 ↗ |
The universe covers equity financial instruments structured as MLPs, MLP affiliate corporations, or midstream energy infrastructure companies. |
| Nationality rule | Companies must be listed on a regulated stock exchange in the United States; no broader nationality-incorporation rule is stated. | Listed on a regulated stock exchange in the United StatesOpen p.6 ↗ |
The stated country criterion is listing on a regulated U.S. stock exchange. |
| M3 Eligibility screens · 3 fields | |||
| Liquidity screen | Metric: Average daily value; Window: last three months; Threshold: New constituents USD: 1,000,000; Existing constituents USD: 750,000; Buffer for existing: Existing index components require average daily traded value of at least 750,000 USD, versus 1,000,000 USD for non-components | Average daily traded value in the last three months of at least 1,000,000 USD for companies which are not INDEX COMPONENTS on the respective SELECTION DAY, at least 750,000 USDOpen p.6 ↗ |
Over the last three months, non-components must have average daily traded value of at least 1,000,000 USD, while existing components must have at least 750,000 USD. |
| Minimum size | Metric: Full market cap; Threshold: New non mlp companies USD: 1,000,000,000; Existing non mlp companies USD: 750,000,000; New mlps USD: 2,000,000,000; Existing mlps USD: 1,500,000,000 | MARKET CAPITALIZATION of at least 1,000 million USD for non MLP companies which are not INDEX COMPONENTS on the respective SELECTION DAY, at least 750 million USDOpen p.6 ↗ |
Non-MLP non-components need market capitalization of at least 1 billion USD, existing non-MLP components 750 million USD, MLP non-components 2 billion USD, and existing MLP components 1.5 billion USD. |
| Business or ESG exclusions | Companies outside Master Limited Partnerships, MLP affiliate corporations, midstream energy infrastructure companies, or the specified energy-logistics business focus are not eligible. | Structured as Master Limited Partnership, an affiliate corporation of an MLP company or a midstream Energy Infrastructure CompanyOpen p.6 ↗ |
Eligibility is restricted to MLPs, MLP affiliate corporations, and midstream energy infrastructure companies focused on energy logistics. |
| M4 Selection and constituent count · 5 fields | |||
| Pending merger exclusion | Yes | If a company, which is not a current INDEX COMPONENT, has publicly announced a merger agreement to be acquired as of the SELECTION DAY, it will not be considered eligible for the INDEX UNIVERSE.Open p.7 ↗ |
A non-current company that has publicly announced a merger agreement to be acquired as of the selection day is not eligible. |
| Minimum non mlp count | 13 companies | There have to be at least 13 companies in the INDEX which are not registered as an MLP as of the SELECTION DAY in order to comply with INDEX diversification rules.Open p.7 ↗ |
At least 13 index companies must not be registered as MLPs as of the selection day. |
| Temporary criteria relaxation | The oversight committee may temporarily reduce the Section 2.1 minimum criteria to reach the minimum component count. | The OVERSIGHT COMMITTEE may decide to temporarily reduce the minimum criteria as displayed in Section 2.1 in order to reach the minimum number of INDEX COMPONENTS.Open p.7 ↗ |
The oversight committee may temporarily reduce the stated minimum criteria to reach the minimum number of components. |
| Selection method | Screen all eligible | All infrastructure MLPs, their AFFILIATE COMPANIES and all Energy Infrastructure Companies, which fulfil the INDEX UNIVERSE REQUIREMENTS criteria as outlined in Section 2.1, will be added to the INDEX.Open p.7 ↗ |
All qualifying infrastructure MLPs, affiliate companies, and energy infrastructure companies are added to the index. |
| Target constituent count | 20 components minimum | The minimum number of INDEX COMPONENTS is 20. There have to be at least 13 companies in the INDEX which are not registered as an MLP as of the SELECTION DAYOpen p.7 ↗ |
The index must contain at least 20 components, including at least 13 companies not registered as MLPs. |
| M5 Weighting and capping · 11 fields | |||
| Mlp group weight (%) | 24% | All MLPs as a group receive an aggregate weight of 24% as of the quarterly SELECTION DAY.Open p.7 ↗ |
All MLPs together receive an aggregate weight of 24% as of the quarterly selection day. |
| Non mlp group weight (%) | 76% | All non MLP companies as a group receive a weight of 76% as of the quarterly SELECTION DAY.Open p.7 ↗ |
All non-MLP companies together receive a weight of 76% as of the quarterly selection day. |
| Mlp capped weight redistribution | Excess MLP weight is allocated proportionally to MLPs whose weights are not capped. | The excess weight is allocated proportionally to all MLP component whose percentage weight is not capped.Open p.7 ↗ |
Weight removed from capped MLP components is allocated proportionally to MLP components whose percentage weights are not capped. |
| Non mlp ranking fixed weights | Rank: 1; Weight (%): 9, Rank: 2; Weight (%): 9, Rank: 3; Weight (%): 9, Rank: 4; Weight (%): 8, Rank: 5; Weight (%): 7, Rank: 6; Weight (%): 6.5 | The three INDEX COMPONENTS with the largest FREE FLOAT MARKET CAPITALIZATION are assigned a fixed weight of 9%. The company with the fourth largest FREE FLOAT MARKET CAPITALIZATION receives a fixed weight of 8%Open p.7 ↗ |
The three largest non-MLPs each receive 9%, the fourth receives 8%, the fifth receives 7%, and the sixth receives 6.5%. |
| Oversight committee capping discretion | The oversight committee may amend the capping methodology for representation and U.S. financial-product regulatory compliance. | The capping methodology may be amended by the OVERSIGHT COMMITTEE from time to time to ensure appropriate INDEX representation and INDEX compliance with financial product regulations in the United States.Open p.7 ↗ |
The oversight committee may amend the capping methodology to ensure appropriate index representation and compliance with U.S. financial product regulations. |
| Weighting scheme | Capped market cap | On each SELECTION DAY each INDEX COMPONENT of the Solactive MLP & Energy Infrastructure Index is weighted proportionally according to its FREE FLOAT MARKET CAPITALIZATION. The following caps and weight restrictions are then appliedOpen p.7 ↗ |
Components are initially weighted in proportion to free-float market capitalization, after which caps and fixed weight restrictions are applied. |
| Free float factor | Method: Free float | weighted proportionally according to its FREE FLOAT MARKET CAPITALIZATIONOpen p.7 ↗ |
Weights are based on free-float market capitalization, but the document does not provide a free-float factor band table. |
| Weight cap | 4.5% | The percentage weight of any MLP component is capped at 4.5% on the ADJUSTMENT DAY.Open p.7 ↗ |
Any MLP component and all other non-MLP components not assigned a fixed top-five or top-six weight are capped at 4.5%. |
| Group cap | Top n: 6; Aggregate (%): 46 | The three INDEX COMPONENTS with the largest FREE FLOAT MARKET CAPITALIZATION are assigned a fixed weight of 9%. The company with the fourth largest FREE FLOAT MARKET CAPITALIZATION receives a fixed weight of 8%Open p.7 ↗ |
The six largest non-MLP components receive fixed weights totaling 46%: 9%, 9%, 9%, 8%, 7%, and 6.5%. |
| Cap application timing | At review | On each SELECTION DAY each INDEX COMPONENT of the Solactive MLP & Energy Infrastructure Index is weighted proportionally according to its FREE FLOAT MARKET CAPITALIZATION.Open p.7 ↗ |
Weights and group allocations are set on each selection day, with the MLP cap applied on the adjustment day and group allocations specified as of the quarterly selection day. |
| Divisor adjustment rule | The divisor is adjusted so that an event does not change the index level, using the ratio of post-event market capitalization or adjusted index value to pre-event value. | This change in Market Capitalization requires a Divisor adjustment to keep the index level constant.From Solactive Equity Index Methodology ↗ |
For divisor indices, corporate actions and some rebalances adjust the divisor to keep the index level continuous. |
| M6 Review and rebalance schedule · 5 fields | |||
| Ordinary rebalance effective timing | On the adjustment day after close of business | In order to reflect the new selection of the INDEX COMPONENTS determined on the SELECTION DAY (in accordance with Section 2.1 and 2.2) the INDEX is adjusted on the ADJUSTMENT DAY after the CLOSE OF BUSINESS.Open p.8 ↗ |
The index is adjusted on the adjustment day after the close of business to reflect components, shares, and weights determined on the selection day. |
| Ordinary rebalance announcement notice | Sufficient notice before the rebalance day | SOLACTIVE will publish any changes made to the INDEX COMPONENTS with sufficient notice before the REBALANCE DAY on the SOLACTIVE website under the section “Announcements”Open p.8 ↗ |
Solactive will publish constituent changes with sufficient notice before the rebalance day in the Announcements section of its website. |
| Extraordinary rebalance policy | Not performed | The INDEX is not rebalanced extraordinarily.Open p.8 ↗ |
The index is not rebalanced extraordinarily. |
| Effective date rule | On the predefined Adjustment Day specified in the Index Guideline; multiday rebalances use a predefined rebalance period. | The Index Composition of a Standard Index is adjusted based on the Index Guideline on the pre-defined Adjustment Day.From Solactive Equity Index Methodology ↗ |
Ordinary composition and parameter changes take effect on the Adjustment Day or throughout the rebalance period specified in the Index Guideline. |
| Data cutoff rule | Target weights and shares are determined on a Selection Day or Fixing Day as specified by the Index Guideline and rebalance methodology. | Target Weights of Index Components which are determined on the Selection Day according to the Index Guideline are used to calculate the Fraction of Shares of each Index Component on the Adjustment Day.From Solactive Equity Index Methodology ↗ |
Selection-day or fixing-day data are used according to the rebalance methodology stated in the Index Guideline. |
| M8 Corporate actions, IPOs, ad-hoc changes · 10 fields | |||
| Inter rebalance adjustment policy | Adjustments are made between regular rebalances when required by corporate actions and may affect components, component count, and weights. | Under certain circumstances, an adjustment of the INDEX may be necessary between two regular REBALANCE DAYS. Such adjustment has to be made if a corporate action (as specified in Section 4.4 below) in relation of an INDEX COMPONENT occurs.Open p.9 ↗ |
Between regular rebalances, the index is adjusted when a corporate action requires it, potentially affecting components, the number of components, or weights. |
| Corporate action implementation timing | From cum-day to ex-day | Corporate actions will be implemented from the cum-day to the ex-day of the corporate action, so that the adjustment to the INDEX coincides with the occurrence of the price effect of the respective corporate action.Open p.10 ↗ |
Corporate actions are implemented from the cum-day to the ex-day so that the index adjustment coincides with the price effect. |
| Corporate action notice period | 2 trading days | SOLACTIVE will announce the INDEX adjustment giving a notice period of at least two TRADING DAYS (with respect to the affected INDEX COMPONENT) on the SOLACTIVE websiteOpen p.9 ↗ |
Solactive announces index adjustments for corporate actions with at least two trading days' notice for the affected component. |
| Corporate action adjustment effective day | Effective day specified in the respective notice | The INDEX adjustments will be implemented on the effective day specified in the respective notice.Open p.9 ↗ |
Corporate-action index adjustments are implemented on the effective day stated in the relevant Solactive notice. |
| Complex corporate action discretion | Solactive may deviate from standard procedures for unusual or complex corporate actions or to preserve comparability and representativeness. | it retains the right in accordance with the Equity Index Methodology to deviate from these standard procedures in case of any unusual or complex corporate action or if such a deviation is made to preserve the comparability and representativeness of the INDEX over time.Open p.10 ↗ |
Solactive may deviate from standard corporate-action procedures for unusual or complex events or to preserve the index's comparability and representativeness over time. |
| Merger spinoff rules | Spin-offs and mergers and acquisitions are treated as relevant corporate actions under the incorporated Equity Index Methodology; adjustments are made from cum-day to ex-day. | Spin-offs (the company splits its business activities into two or more entities and distributes new equity shares in the created entities to the shareholders of the former entity)Open p.10 ↗ |
Spin-offs and mergers and acquisitions are relevant corporate actions and are adjusted in accordance with the Equity Index Methodology from cum-day to ex-day. |
| Corporate actions guide ref | Equity Index Methodology | will be made in compliance with the Solactive Equity Index Methodology, which is incorporated by reference and available on the SOLACTIVE websiteOpen p.9 ↗ |
Corporate-action adjustments follow the Solactive Equity Index Methodology, which is incorporated by reference. |
| Ad-hoc deletion | Delisting, Acquisition, Bankruptcy, Prolonged suspension, Other | In the case an Index Component is subject to a Delisting the removal from the Index will be on the effective date as announced by Solactive.From Solactive Equity Index Methodology ↗ |
Ad-hoc removal can occur for delisting, M&A, bankruptcy, nationalization, sanctions, suspension pending delisting, and Positive List removal. |
| Replacement policy | None | The weight will be distributed pro rata across the remaining Index Components.From Solactive Equity Index Methodology ↗ |
Deleted weights are generally distributed pro rata across remaining components rather than replaced from a reserve list. |
| Deletion price | Typically the last available stock price; alternative-market prices, transaction deal terms, distribution terms, or 0.00000001 may be used when a robust market price is unavailable; sanctioned securities may be removed at zero. | If available, the Index Component is deleted on the basis of its last available stock price.From Solactive Equity Index Methodology ↗ |
Securities are generally deleted at the last available price, with alternative prices, deal terms, distribution values, a nominal near-zero price, or zero in specified situations. |
| M9 Calculation and return variants · 12 fields | |||
| Foreign exchange conversion | Components not priced in the index currency use current ICE spot FX rates intraday and the 4:00 p.m. London WM Fixing for closing calculations. | TRADING PRICES of INDEX COMPONENTS not listed in the INDEX CURRENCY are converted using the current Intercontinental Exchange (ICE) spot foreign exchange rate.Open p.5 ↗ |
Foreign-currency component prices are converted using current ICE spot rates intraday and the London 4:00 p.m. WM Fixing for the closing level. |
| FX closing fallback | If the relevant-day 4:00 p.m. London WM Fixing is unavailable, the last available such fixing is used for the closing calculation. | If there is no 04:00 p.m. London time WM Fixing for the relevant CALCULATION DAY, the last available 04:00 p.m. London time WM Fixing will be used for the closing level calculation.Open p.5 ↗ |
The closing calculation uses the last available 4:00 p.m. London WM Fixing when the current fixing is unavailable. |
| Formula type | Divisor | The divisor INDEX formula stipulates that the level of the INDEX changes based on the change of the prices of its INDEX COMPONENTS taking into account their weight in the INDEXOpen p.9 ↗ |
The index is calculated using a divisor formula. |
| Price source | Intraday: current trading prices on the exchanges where components are listed; Closing: closing prices on the exchanges where components are listed; Stale price fallback: later of the most recent closing price or the last available trading price for the preceding trading day; FX intraday: current ICE spot foreign exchange rate; FX closing: 4:00 p.m. London time WM Fixing quoted by Reuters | The level of the INDEX is calculated on each CALCULATION DAY from 09:00am to 4:30pm EST based on the TRADING PRICES on the EXCHANGES on which the INDEX COMPONENTS are listed.Open p.5 ↗ |
Intraday calculations use current exchange trading prices, while the closing level uses component closing prices, with prescribed stale-price and FX fallbacks. |
| Calculation frequency | Intraday window: 09:00-16:30 EST each calculation day; End of day: Yes | The level of the INDEX is calculated on each CALCULATION DAY from 09:00am to 4:30pm EST based on the TRADING PRICES on the EXCHANGES on which the INDEX COMPONENTS are listed.Open p.5 ↗ |
The index is calculated intraday from 9:00 a.m. to 4:30 p.m. EST on each calculation day and also has a daily closing level. |
| Precision | Index level: 4; Divisor: 6; Trading prices: 6; Foreign exchange rates: 6 | The level of the INDEX will be rounded to 4 decimal places. Divisors will be rounded to 6 decimal places. TRADING PRICES and foreign exchange rates will be rounded to 6 decimal places.Open p.9 ↗ |
The index level is rounded to four decimal places, and divisors, trading prices, and FX rates are rounded to six decimal places. |
| Return variants | GTR | The INDEX is calculated as a Gross total return Index.Open p.9 ↗ |
The index is published as a gross total return index. |
| Dividend treatment | Dividends and other distributions are reinvested across the entire basket by means of a divisor at the opening of the ex-date. | Any dividends or other distributions are reinvested across the entire basket of INDEX COMPONENTS by means of a divisor at the opening of the effective date (the so-called ex-date) of the payment of such dividend or other distribution.Open p.9 ↗ |
Cash dividends and other distributions are reinvested across the whole index basket through a divisor adjustment at the opening of their effective ex-date. |
| Divisor adjustment | Dividends, other distributions | Any dividends or other distributions are reinvested across the entire basket of INDEX COMPONENTS by means of a divisor at the opening of the effective date (the so-called ex-date) of the payment of such dividend or other distribution.Open p.9 ↗ |
Dividends and other distributions trigger reinvestment through a divisor adjustment. |
| Market disruption rule | During market stress, Solactive follows the predefined and exhaustive arrangements in the incorporated Solactive Disruption Policy. | In periods of market stress SOLACTIVE calculates its indices following predefined and exhaustive arrangements as described in the Solactive Disruption Policy, which is incorporated by referenceOpen p.11 ↗ |
During market stress resulting in inaccurate or delayed prices, index calculation follows the Solactive Disruption Policy incorporated by reference. |
| Recalculation policy | Solactive endeavors to correct identified errors within a reasonable period, with details governed by the incorporated Solactive Correction Policy. | SOLACTIVE endeavors to correct all errors that have been identified within a reasonable period of time.Open p.11 ↗ |
Identified index errors are intended to be corrected within a reasonable period under the Solactive Correction Policy. |
| Withholding tax basis | Withholding tax or other typical investor costs are deducted in Net Total Return indices, generally using Solactive's applicable withholding tax rates and country or security-specific exceptions. | a Net Total Return Index considers payments, such as dividends, after the deduction of any withholding tax or other amounts an investor holding the Index Components would typically be exposed to.From Solactive Equity Index Methodology ↗ |
Net Total Return indices deduct withholding tax or other amounts a typical investor would bear, using applicable Solactive withholding tax rates and specified country, REIT, depository receipt, Brazil, Australia, Japan, New Zealand, and other exceptions. |
| M10 Governance, change policy, disclosure · 12 fields | |||
| Discretion governance | Any discretion must be exercised under strict rules regarding discretion or expert judgment. | shall be made in accordance with strict rules regarding the exercise of discretion or expert judgement.Open p.12 ↗ |
Discretionary determinations must follow strict rules governing the exercise of discretion or expert judgment. |
| Method finality | The index administrator's application of the described method is final and binding. | The application by the INDEX ADMINISTRATOR of the method described in this document is final and binding.Open p.12 ↗ |
The index administrator's application of the methodology is final and binding. |
| Change triggers | market environment, supervisory reasons, legal reasons, financial reasons, tax reasons, prevention of obvious or demonstrable error, remedying incorrect terms and conditions | However, it cannot be excluded that the market environment, supervisory, legal and financial or tax reasons may require changes to be made to this method.Open p.12 ↗ |
Changes may be required by market, supervisory, legal, financial, or tax reasons, or to prevent or remedy errors. |
| Amendment approval | Rule amendments that may amend the guideline require prior Oversight Committee approval and compliance with the Methodology Policy. | Any such amendment, which may result in an amendment of the GUIDELINE, must be submitted to the OVERSIGHT COMMITTEE for prior approval and will be made in compliance with the Methodology PolicyOpen p.13 ↗ |
Any amendment affecting the index guideline must receive prior Oversight Committee approval and comply with the Methodology Policy. |
| Oversight body | Oversight Committee composed of staff from Solactive and its subsidiaries | An oversight committee composed of staff from SOLACTIVE and its subsidiaries (the “OVERSIGHT COMMITTEE”) is responsible for decisions regarding any amendments to the rules of the INDEX.Open p.13 ↗ |
An oversight committee made up of staff from Solactive and its subsidiaries approves amendments to the index rules. |
| Discretion points | determination of the index universe, if applicable, selection of index components, if applicable, other relevant decisions in relation to the index, changes necessary to prevent obvious or demonstrable error, changes to remedy, correct, or supplement incorrect terms and conditions | Any discretion which may need to be exercised in relation to the determination of the INDEX (for example the determination of the INDEX UNIVERSE (if applicable), the selection of the INDEX COMPONENTS (if applicable) or any other relevant decisions in relation to the INDEX)Open p.12 ↗ |
Discretion may apply to universe determination, component selection, other relevant index decisions, and changes needed to prevent or correct errors. |
| Methodology review frequency | at least annually | The methodology of the INDEX is subject to regular review, at least annually.Open p.12 ↗ |
The index methodology is reviewed regularly, at least once per year. |
| Material change definition | A methodology change may be needed when the underlying market or economic reality has changed and the methodology relies on obsolete assumptions or factors and no longer reflects reality accurately, reliably, and appropriately. | In case a need of a change of the methodology has been identified within such review (e.g. if the underlying market or economic reality has changed since the launch of the INDEX, i.e. if the present methodology is based on obsolete assumptions and factors and no longer reflects the reality as accurately, reliably and appropriately as before)Open p.12 ↗ |
A change is indicated where changed market or economic reality makes the methodology's assumptions obsolete and impairs its accuracy, reliability, or appropriateness. |
| Error correction policy | Errors are corrected within a reasonable period as specified in the incorporated Solactive Correction Policy. | SOLACTIVE endeavors to correct all errors that have been identified within a reasonable period of time.Open p.11 ↗ |
Solactive seeks to correct identified errors within a reasonable period according to the Solactive Correction Policy. |
| Change announcement | Solactive website Announcements section | Such change in the methodology will be announced on the SOLACTIVE website under the Section “Announcements”, which is available at https://www.solactive.com/news/announcements/.Open p.12 ↗ |
Methodology changes are announced in the Announcements section of the Solactive website. |
| Cessation policy | Orderly cessation may occur when no other options remain, such as substantial unforeseen changes in underlying reality, incoherent application of rules, or lack of use, under the Solactive Termination Policy. | Nevertheless, if no other options are available the orderly cessation of the INDEX may be indicated.Open p.13 ↗ |
Solactive may orderly cease the index if the market reality changes substantially, rules cannot be applied coherently, or the index is no longer used, following the Termination Policy. |
| Notice period | 2 trading days | SOLACTIVE shall announce the extraordinary INDEX adjustment with a notice period of at least two TRADING DAYS.From Solactive Disruption Policy ↗ |
An extraordinary index adjustment for removal is announced with a notice period of at least two trading days. |
Open points · 30Model-written, for reference
- 1No launch date or first publication date distinct from the 2013-05-08 start date was stated.
- 2No methodology edition date was stated.
- 3No specific regulated U.S. stock exchanges or listing boards were named.
- 4No minimum trading history, free float, foreign room, voting rights, share price, financial-screen, suspension, or extreme-price rule was stated.
- 5No parent index forming the universe was stated; the universe is defined directly through index universe requirements and the Market Watch.
- 6The benchmark's regulated, significant, or non-significant classification under BMR was not stated.
- 7No explicit intended use such as ETF or derivatives benchmark was stated.
- 8No explicit ranking metric or rank-ordered shortlisting process is specified beyond including all companies that satisfy the index universe requirements.
- 9No tie-break rule for equal free-float market capitalization rankings is stated.
- 10No industry neutrality or sector-balancing rule is stated.
- 11No reserve list size or replacement-candidate rule is stated.
- 12No free-float factor methodology, band table, or adjustment factors are provided.
- 13No domestic inclusion factor or foreign-ownership-limit treatment is stated.
- 14No separate sector or country caps are stated.
- 15No shares-outstanding data source or update schedule is stated.
- 16No divisor adjustment rule for weight resets is stated.
- 17The supplied sections do not state the ordinary review or rebalance frequency, review months, review types, or selection/adjustment calendar.
- 18The supplied sections do not define a data cut-off or selection-day reference-data rule.
- 19The supplied sections do not specify rank, size, liquidity, or turnover buffers.
- 20The supplied sections do not specify fast-entry rules for large new listings.
- 21The supplied sections do not state a replacement policy or reserve list for removed constituents.
- 22The supplied sections do not specify the deletion price for constituents removed because of corporate actions.
- 23The supplied sections do not state a threshold for implementing share or free-float changes between reviews.
- 24The supplied sections identify delistings, mergers and acquisitions, insolvency, nationalization, and other corporate actions as relevant events but do not provide explicit ad-hoc deletion triggers or enumerated treatment outcomes in this extract.
- 25No withholding tax basis for net total return variants is stated; the document identifies the index as gross total return only.
- 26No external review or consultation procedure for methodology changes is stated.
- 27No quantified notice period for methodology or constituent changes is stated.
- 28No publication frequency or explicit publication arrangement for constituent lists is stated.
- 29The specific real-time calculation interval in minutes or seconds is not stated; only the intraday time window is provided.
- 30Not coveredM7 Buffers and turnover control: not covered by this edition
Read by a language model (doubao-seed-2.1-pro) on 2026-10-04 · prompt 1.3 · schema 1 · 84 of 84 quotes found word for word in the PDF · includes general rules: Equity Index Methodology v1.20, Disruption Policy v1.5
This profile was written by a language model from the provider's text and may be wrong; the provider's document prevails.
Pick a file to view it here.
First edition on record; nothing to compare yet.
No change records for this index yet.