Also known as: TX6C (S&P DJI code) · .SPTSECP (RIC)
Parent index: S&P/TSX 60 ↗
At a glance
- Weighting schemeCapped market cap
- Review frequencyQuarterly
- Constituent count60
- Single cap10
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 12 fields | |||
| Headline index | S&P/TSX Composite | The S&P/TSX Composite is the principal broad market measure for the Canadian equity markets. It includes common stocks and income trust units.Open p.4 ↗ |
The S&P/TSX Composite is the principal broad market measure for Canadian equities and the headline index of the family. |
| Smallcap separate family | Yes | The S&P/TSX SmallCap Index is a completely separate index from the S&P/TSX Composite family of indices.Open p.4 ↗ |
The S&P/TSX SmallCap Index is a completely separate index from the S&P/TSX Composite family of indices. |
| Real time calculation for smallcap | Yes | S&P/TSX SmallCap Index provides an investable index for the Canadian small cap market. It includes common stock and income trusts and is calculated in real-time.Open p.4 ↗ |
The S&P/TSX SmallCap Index is calculated in real time. |
| Index name | S&P/TSX 60 Capped | Index Capping % S&P/TSX Capped Composite 10 S&P/TSX 60 Capped 10Open p.4 ↗ |
The official index name is S&P/TSX 60 Capped. |
| Administrator | S&P Dow Jones Indices | S&P Dow Jones Indices also publishes end-of-day Sector, Industry Group, Industry and Sub Industry Indices based on the S&P/TSX Composite.Open p.4 ↗ |
S&P Dow Jones Indices is the index provider and administrator of the methodology. |
| Index family | S&P/TSX Canadian Indices | The S&P/TSX Canadian Indices measure the performance of various segments of the Canadian equity markets. The headline and broadest index is the S&P/TSX Composite.Open p.4 ↗ |
The index family is the S&P/TSX Canadian Indices, with the S&P/TSX Composite as its headline and broadest index. |
| Currency | CAD, USD | S&P/TSX Composite (USD) SPTSXU T.QAU-TOpen p.14 ↗ |
The family includes Canadian-dollar headline indices and U.S.-dollar versions of selected indices. |
| Benchmark type | Not stated | Please refer to the S&P DJI Methodology & Regulatory Status Database for a complete list of indices covered by this document.Open p.14 ↗ |
The provided sections do not classify the indices under a regulated-benchmark status category. |
| Market classification | Developed | The S&P/TSX Canadian Indices measure the performance of various segments of the Canadian equity markets.Open p.4 ↗ |
The indices cover Canadian equities; the document does not explicitly label Canada as developed, developed, emerging, or frontier. |
| Size segment | Large | Within the S&P/TSX Composite, the S&P/TSX 60 covers large cap securities.Open p.4 ↗ |
The S&P/TSX 60 covers large-cap securities. |
| Index family type | Capped | S&P Dow Jones Indices calculates capped versions of several headline indices.Open p.5 ↗ |
The index is a capped version of the S&P/TSX 60 headline index. |
| Factor exposures | Low volatility, Momentum | S&P/TSX Composite Low Volatility SPTXLVPR .GSPTXLV --Open p.15 ↗ |
The broader family includes low-volatility and high-beta factor variants, while the headline indices are broad market indices. |
| M2 Universe · 9 fields | |||
| Eligible securities pool definition | Securities eligible for consideration by the Index Committee for inclusion in the S&P/TSX Composite. | “Eligible Securities Pool” means those securities that are eligible for consideration by the Index Committee for inclusion in the S&P/TSX Composite.Open p.31 ↗ |
The Eligible Securities Pool is the set of securities eligible for Index Committee consideration for S&P/TSX Composite inclusion. |
| Tsx venture graduation liquidity | Only trading after listing on the TSX is included in the liquidity calculation for companies graduating from TSX Venture Exchange. | In evaluating companies graduating from the TSX Venture Exchange to the TSX, only trading that occurred after listing on the TSX is included in the liquidity calculation.Open p.6 ↗ |
When a company graduates from TSX Venture Exchange to the TSX, only post-TSX-listing trading counts for liquidity. |
| Sector classification requirement | GICS classification is required. | Sector Classification: be classified by GICS.Open p.7 ↗ |
A security must be classified under the Global Industry Classification Standard. |
| Markets | Canada | The S&P/TSX Canadian Indices measure the performance of various segments of the Canadian equity markets.Open p.4 ↗ |
The index universe covers Canadian equity markets and requires issuers to be domiciled or incorporated in Canada. |
| Exchanges | Toronto Stock Exchange | Exchange Listing: be listed on the TSX.Open p.6 ↗ |
Eligible securities must be listed on the Toronto Stock Exchange. |
| Security types | Common, Stapled | The S&P/TSX Composite is the principal broad market measure for the Canadian equity markets. It includes common stocks and income trust units.Open p.4 ↗ |
The broad index includes common stocks, income trust units, and eligible non-separable stapled securities. |
| Nationality rule | A company must be domiciled or incorporated in Canada. | Domicile: be domiciled or incorporated in Canada.Open p.6 ↗ |
Canadian eligibility is determined by domicile or incorporation in Canada. |
| Parent universe index | S&P/TSX Composite | The index contains all of the income trust constituents from its parent index, the S&P/TSX Composite. Constituents of this index are not capped.Open p.4 ↗ |
Sector and income trust sub-index universes are drawn from constituents of the S&P/TSX Composite. |
| Exclusions | mutual fund corporations, preferred shares, exchangeable shares, Warrants, installment receipts, USD-denominated securities, securities without a GICS classification, securities deemed inappropriate by the Index Committee, paper-clipped securities, Income Deposit Securities, Enhanced Income Securities, Income Participating Securities | Ineligible: o Mutual fund corporationsOpen p.6 ↗ |
The listed ineligible security types include mutual funds, preferred shares, exchangeable shares, warrants, installment receipts, USD-denominated securities, unclassified securities, paper-clipped structures, and related income securities. |
| M3 Eligibility screens · 14 fields | |||
| Market capitalization measurement window | 10 trading days | Based on the volume weighted average price (VWAP) of the security on the Toronto Stock Exchange (TSX) over the last 10 trading days prior to the reference dateOpen p.6 ↗ |
Market-capitalization eligibility is measured using the security's TSX VWAP over the last 10 trading days before the reference date. |
| Capped composite threshold when constituent exceeds 10 percent | Yes | If any Index Security has a weight of more than 10% at the reference date, the minimum weight threshold for assessing potential new additions is based on the S&P/TSX Capped Composite.Open p.6 ↗ |
If any index security has a weight above 10% at the reference date, new-addition and inclusion minimum-weight thresholds are based on the S&P/TSX Capped Composite. |
| Liquidity calculation | Total shares traded in Canada and the U.S. during the previous 12 months divided by float-adjusted shares outstanding at period end. | Liquidity is measured by float turnover (total number of shares traded in Canada and U.S.1 in the previous 12 months divided by float-adjusted shares outstanding at the end of the period).Open p.6 ↗ |
Float turnover is calculated from Canadian and U.S. trading volume over the prior 12 months divided by period-end float-adjusted shares outstanding. |
| Shares outstanding | Issued and outstanding shares, rounded to the nearest thousand and float-adjusted to available shares. | Shares Outstanding: shares counted for index calculation are issued and outstanding shares of a security (rounded to the nearest thousand). This count is float-adjusted to reflect only available shares.Open p.7 ↗ |
Index calculations use issued and outstanding shares rounded to the nearest thousand and adjusted for float. |
| Multiple share classes | All publicly listed multiple share class lines are eligible if they independently meet eligibility criteria; unlisted lines are included in company market capitalization but not combined with listed lines. | All publicly listed multiple share class lines are eligible for index inclusion, subject to meeting the eligibility criteria.Open p.7 ↗ |
Each publicly listed multiple-class line is separately eligible, while unlisted lines count toward company market capitalization. |
| Foreign ownership constrained shares | Float shares for securities with constrained share classes are based on total issued and outstanding shares of all classes rather than each class separately. | In the case of securities that have constrained shares (foreign ownership constraints on a particular class of shares), the calculation of float shares is based on the total issued and outstanding shares of all classes, not on each class separately.Open p.7 ↗ |
For foreign-ownership-constrained securities, float shares are calculated across all share classes combined. |
| Trading history | Minimum value: 6 calendar months; Exceptions: spin-offs | Listing period: except for spin-offs, to be included in the Eligible Securities Pool, companies must be listed on the TSX for at least six full calendar months.Open p.6 ↗ |
Except for spin-offs, a company must have been listed on the TSX for at least six full calendar months to enter the Eligible Securities Pool. |
| Liquidity screen | Metric: Liquidity ratio; Window: previous 12 months; available trading history for securities with less than 12 months of history; Threshold: 0.5; Dual listed canadian volume threshold: 0.25; Buffer for existing: Threshold: 0.25; Dual listed canadian volume threshold: 0.125 | Liquidity: have a float-adjusted turnover ratio of at least 0.50. For dual-listed stocks, liquidity must also be at least 0.25 when using Canadian volume only.Open p.6 ↗ |
New securities need float-adjusted turnover of at least 0.50, dual-listed stocks also need 0.25 using Canadian volume, and existing constituents have review buffers of 0.25 and 0.125, respectively. |
| Minimum size | Metric: Float adjusted market cap; Threshold: 0.04 pct of index; Measurement: VWAP over the last 10 trading days before the reference date, after adding the security's QMV to total float-adjusted market capitalization; Existing constituent buffer: 0.025 pct of index | the security must represent a minimum weight of 0.04% of the index, after including the Quoted Market Value (QMV) of that security in the total float-adjusted market capitalization of the index.Open p.6 ↗ |
A new S&P/TSX Composite candidate must represent at least 0.04% of the index after adding its QMV, while an existing constituent has a 0.025% continued-inclusion buffer. |
| Minimum free float | — | This count is float-adjusted to reflect only available shares.Open p.7 ↗ |
The document requires float adjustment but does not state a numeric minimum free-float percentage in the provided sections. |
| Minimum price | 1 | The security must have a minimum VWAP of C$ 1 over the past three months and over the last 10 trading days prior to the reference date.Open p.6 ↗ |
A candidate security must have a minimum VWAP of C$1 over both the past three months and the last 10 trading days before the reference date. |
| Business or ESG exclusions | Securities deemed inappropriate by the Index Committee | o Securities deemed inappropriate by the Index CommitteeOpen p.6 ↗ |
The Index Committee may deem a security inappropriate, but the provided sections do not list industry, controversy, or ESG screens. |
| Suspension rule | — | — (not found verbatim in the PDF) |
The provided sections do not state a treatment rule for suspended securities. |
| Extreme price screen | — | — (not found verbatim in the PDF) |
The provided sections do not state an abnormal-price-increase exclusion. |
| M4 Selection and constituent count · 1 field | |||
| Target constituent count | 60 | Within the S&P/TSX Composite, the S&P/TSX 60 covers large cap securities.Open p.4 ↗ |
The index is the S&P/TSX 60 Capped and therefore targets 60 constituents. |
| M5 Weighting and capping · 14 fields | |||
| Capping scenarios | 25, 10 | S&P/TSX indices are currently constructed under two capping scenarios, 25% or 10%. The following information applies to both.Open p.30 ↗ |
S&P/TSX indices are constructed under two capping scenarios: 25% and 10%. |
| Quarterly capping threshold (%) | 25, 10 | Any constituent whose Relative Weight exceeds 25 (10) percent on the Quarterly Valuation Date is capped at 25 (10) percent.Open p.30 ↗ |
On the quarterly valuation date, constituents are capped when their relative weight exceeds the applicable 25% or 10% maximum. |
| Daily capping threshold (%) | 15% | Daily capping is performed when a constituent in the index has a weight greater than 30 (15) percent. If the threshold is breached, the current stock weights are recapped back to 25 (10) percent.Open p.30 ↗ |
For the 10% capping scenario used by S&P/TSX 60 Capped, daily capping is triggered when a constituent's weight exceeds 15%. |
| Cap implementation method | Float shares or trust units are reduced until the relative weight equals the cap. | This cap is put in place by reducing the number of trust units or shares in the float until it results in a Relative Weight equal to 25 (10) percent of the relevant index.Open p.30 ↗ |
The cap is implemented by reducing the constituent's float shares or trust units until its relative weight equals the applicable cap. |
| Capping committee discretion | Yes | The decision to impose a maximum weight restriction on any capped index is subject to the sole and absolute discretion of the Index Committee.Open p.30 ↗ |
Imposing a maximum weight restriction on any capped index is at the Index Committee's sole and absolute discretion. |
| Daily capping announcement and effective date | Pro-forma files are disseminated after the close on the breach day, and changes are effective after the close of the next trading day. | When daily capping is necessary S&P DJI announces the changes in pro-forma files disseminated after the close of the business day on which the daily weight caps are exceeded with a reference date as of after the close of that same business day, and changes are effective after the close of the next trading day.Open p.30 ↗ |
When daily capping is needed, pro-forma files are released after the close on the day caps are exceeded, and changes become effective after the next trading day's close. |
| Quarterly awf effective months | March, June, September, December | the previously assigned AWFs from the quarterly reference date are still implemented, effective after the close of the third Friday of March, June, September, and December, to account for any applicable quarterly share and IWF updates.Open p.30 ↗ |
Quarterly assigned adjusted weight factors remain effective after the close of the third Friday in March, June, September, and December. |
| Pre rebalancing recap rule | On the second-to-last business day before quarterly rebalancing, the index is recapped if daily capping requirements are breached using closing prices and new quarterly shares, IWFs, and AWFs. | If on the second to last business day prior to the quarterly rebalancing implementation, using that day’s closing price (adjusted for any applicable corporate actions) and the newly assigned quarterly shares, IWF, and AWFs as of the rebalancing effective date, the index breaches the daily capping requirements, the index recaps using that day’s closing price.Open p.30 ↗ |
If the daily capping threshold is breached on the second-to-last business day before quarterly implementation using new quarterly data and that day's closing price, the index is recapped and new AWFs replace the original AWFs. |
| Weighting scheme | Capped market cap | This cap is put in place by reducing the number of trust units or shares in the float until it results in a Relative Weight equal to 25 (10) percent of the relevant index.Open p.30 ↗ |
The index is a capped market-capitalization index whose constituent float is reduced to enforce the relative-weight cap. |
| Weight cap | 10% | Index Capping % S&P/TSX Capped Composite 10 S&P/TSX 60 Capped 10Open p.5 ↗ |
The S&P/TSX 60 Capped has a 10% constituent capping level. |
| Cap application timing | Daily | The index is also reviewed daily based on each stock’s index weight. Daily capping is performed when a constituent in the index has a weight greater than 30 (15) percent.Open p.30 ↗ |
The capped index is reviewed daily, with quarterly caps and daily recapping when thresholds are breached. |
| Free float factor | Method: Free float | calculate an accurate Investable Weight Factors (“IWFs”) based on available information are not considered for fast track entryFrom S&P DJI Equity Indices Policies & Practices ↗ |
S&P DJI uses an Investable Weight Factor to float-adjust constituent market capitalization; no factor bands are stated in the supplied sections. |
| Shares outstanding | Quarterly updates use latest publicly available shares outstanding as of the rebalancing reference date; multiple listed lines are evaluated separately and DR shares are derived from DR ratio and underlying shares. | At each quarterly review, shares outstanding are updated to the latest available information as of the rebalancing reference date.From S&P DJI Equity Indices Policies & Practices ↗ |
Share counts are updated to the latest available shares outstanding at the reference date, with special derivation rules for depositary receipts, units, and multiple classes. |
| Divisor adjustment rule | Multiplicative formula: Divisor_t = Divisor_(t-1) * MV_t / MV_(t-1); Additive formula: Divisor_new = Divisor_old + CMV / Index Level; Principle: The divisor is adjusted so the index level remains unchanged when constituent market values change at constant prices | Given these, it is easy to determine the new divisor that will keep the index level constant when stock r is replaced by stock s: MV t = Divisor ( Divisor 1)From S&P DJI Index Mathematics ↗ |
The new divisor equals the old divisor multiplied by the ratio of new to old index market value, or equivalently the old divisor plus the change in market value divided by the unchanged index level. |
| M6 Review and rebalance schedule · 9 fields | |||
| Post removal reinclusion wait | 12 calendar months | Securities removed from the index as a result of the Quarterly Review are not eligible for re-inclusion for a period of 12 full calendar months following removal.Open p.9 ↗ |
Securities removed in a quarterly review cannot be re-included for 12 full calendar months unless the Index Committee determines the issuer has substantially restructured. |
| Review frequency | Quarterly | The index is reviewed quarterly and all Index Securities that do not meet the Buffer Rules are removed.Open p.9 ↗ |
The indices are reviewed quarterly. |
| Review types | Quarterly review, Ad hoc | The Quarterly Review months are March, June, September, and December.Open p.9 ↗ |
The document provides for quarterly reviews and intra-quarter changes as needed in response to corporate actions. |
| Review months | March, June, September, December | The Quarterly Review months are March, June, September, and December.Open p.9 ↗ |
Quarterly reviews occur in March, June, September, and December. |
| Data cutoff rule | Constituents’ index shares are calculated using closing prices 12 business days prior to the rebalancing effective date. | Constituents’ index shares are calculated using closing prices 12 business days prior to the rebalancing effective date.Open p.9 ↗ |
For the S&P/TSX 60 Capped quarterly rebalance, constituent index shares are calculated using closing prices 12 business days before the rebalancing effective date. |
| Announcement rule | Changes to a scheduled rebalancing date are announced with proper advance notice where possible. | Any such change will be announced with proper advance notice where possible.Open p.13 ↗ |
If the Index Committee changes a rebalancing date, it announces the change with proper advance notice where possible. |
| Effective date rule | All additions, deletions, share changes, and quarterly capped-index rebalances are effective after the close of trading on the third Friday of March, June, September, or December. | All additions, deletions and share changes are effective after the close of trading on the third Friday of the quarterly month.Open p.9 ↗ |
Quarterly review changes and capped-index rebalances take effect after the close on the third Friday of the quarterly month. |
| Rebalance frequency | Quarterly | Frequency. Rebalancings occur quarterly. Intra-quarter changes are made on an as needed basis.Open p.9 ↗ |
Rebalancings occur quarterly, with intra-quarter changes made as needed. |
| Weight reset frequency | Annual | Investable Weight Factor (IWF) updates are only made annually at the September Quarterly Review.Open p.9 ↗ |
Investable Weight Factor updates are made annually at the September quarterly review. |
| M7 Buffers and turnover control · 1 field | |||
| Buffer failure consequence | Index securities that fail the buffer rules are removed at the quarterly review. | Index Securities that fail to meet Buffer Rules are removed from the index after the close on the third Friday of the Quarterly Review month.Open p.9 ↗ |
Securities that do not meet the buffer rules are removed after the close on the third Friday of the quarterly review month. |
| M8 Corporate actions, IPOs, ad-hoc changes · 8 fields | |||
| Additions generally limited to quarterly review | Yes | Additions are generally only made as part of the Quarterly Review.Open p.9 ↗ |
Additions are generally made only as part of the quarterly review. |
| Corporate action deletion timing | A security affected by a successful corporate action is removed at the first practical date after the Index Committee's determination. | A security is removed from the index at the first practical date following the Index Committee’s determination that a corporate action has been successful.Open p.9 ↗ |
A constituent subject to a successful corporate action is removed at the first practical date after the Index Committee determines the action succeeded. |
| Corporate action announcement target | Two to five business days | The target announcement period is two-to-five business days, but exceptions may apply due to unexpected corporate activity.Open p.9 ↗ |
The target announcement period for corporate-action deletions is two to five business days, subject to exceptions from unexpected activity. |
| Ad-hoc deletion | Acquisition, Delisting, Other | A security is removed from the index at the first practical date following the Index Committee’s determination that a corporate action has been successful.Open p.9 ↗ |
A security is removed after a successful corporate action, or when it is delisted, defunct, or no longer meets domicile and eligible-security criteria. |
| Merger spinoff rules | A spin-off is added to every index containing the parent at a zero price at the close before the ex-date with no divisor adjustment; if deemed ineligible, it is removed after at least one day of regular-way trading with a divisor adjustment, subject to Index Committee discretion. | The spin-off company is added to all the indices of which the parent is a constituent, at a zero price at the market close of the day before the ex-date (with no divisor adjustment).Open p.9 ↗ |
Spin-offs are initially added to all of the parent’s indices at zero price before the ex-date without a divisor adjustment, and ineligible spin-offs are removed after at least one regular-way trading day with a divisor adjustment. |
| Corporate actions guide ref | S&P Dow Jones Indices’ Equity Indices’ Policies & Practices Methodology | please refer to the Market Capitalization section of S&P Dow Jones Indices’ Equity Indices’ Policies & Practices Methodology.Open p.10 ↗ |
Further corporate-action, share-update, spin-off, and suspension treatment is covered in S&P Dow Jones Indices’ Equity Indices’ Policies & Practices Methodology. |
| Deletion price | Generally the closing price on the deletion date; delistings use the primary exchange price if available, zero if not, with special rules for suspended M&A targets and U.S. OTC securities. | Generally, S&P DJI implements deletions using the security’s closing price on the deletion date.From S&P DJI Equity Indices Policies & Practices ↗ |
Deletions generally use the deletion-date closing price or primary exchange price, with zero or special deal-based pricing in specified situations. |
| Share or float change threshold | Accelerated public offer minimum value USD: 150,000,000; Accelerated public offer minimum share percent: 5; Large event value USD: 1,000,000,000; Quarterly iwf share change percent: 5; Quarterly iwf absolute change points: 5 | At least US $150 million2, and b. At least 5%3 of the pre-event total shares.From S&P DJI Equity Indices Policies & Practices ↗ |
Accelerated public offerings generally require at least US$150 million and 5% of shares; events of at least US$1 billion may bypass the 5% share test, while quarterly IWF changes require a 5% share change and at least 5 points of IWF change. |
| M9 Calculation and return variants · 12 fields | |||
| Additional return series | Currency, Currency hedged, Decrement, Fair value, Inverse, Leveraged, Risk control | additional return series versions of the indices may be available, including, but not limited to the following: currency, currency hedged, decrement, fair value, inverse, leveraged, and risk control versions.Open p.10 ↗ |
Additional versions may include currency, currency hedged, decrement, fair value, inverse, leveraged, and risk-control series. |
| Trading volume source | Canadian composite volume includes TSX, Aequitas Lit and Neo, Alpha, CSE Pure Trading, Instinet Canada, Liquidnet Canada, Lynx, Nasdaq CXC, Nasdaq CXD, Nasdaq CX2, Omega, and TriAct Match Now; U.S. volume rules also apply. | Canadian and U.S. trading volume is determined using the composite volume. Canadian trading volume includes trading on the TSX, Aequitas (Lit and Neo), Alpha, CSE (Pure Trading), Instinet Canada, Liquidnet Canada, Lynx, Nasdaq CXC, Nasdaq CXD, Nasdaq CX2, Omega and TriAct Match Now.Open p.8 ↗ |
Canadian and U.S. trading volume is based on composite volume across the listed Canadian marketplaces and qualifying U.S. trading venues. |
| Formula type | Divisor | The indices calculate by means of the divisor methodology used in most S&P Dow Jones equity indices.Open p.8 ↗ |
The indices are calculated using the divisor methodology. |
| Price source | Prices, VWAPs, and prices used to calculate QMV are determined by trading on the TSX. | Stock prices, VWAPs, and prices used to calculate QMV shall be prices determined by trading on the TSX.Open p.8 ↗ |
Stock prices, VWAPs, and QMV calculation prices are prices determined by trading on the TSX. |
| Calculation frequency | real-time_intraday_for_certain_indices, End of day when canadian equity market is open | Real-time, intra-day, index calculations are executed for certain indices whenever any of their primary exchanges are open.Open p.13 ↗ |
Certain indices have real-time intraday calculations when their primary exchanges are open, and the S&P/TSX Canadian indices are calculated when the Canadian equity market is open. |
| Return variants | PR, GTR, NTR | Price Return (PR) versions are calculated without adjustments for regular cash dividends. Gross Total Return (TR) versions reinvest regular cash dividends at the close on the ex-date without consideration for withholding taxes. Net Total Return (NTR) versions, if available, reinvest regular cash dividends at the close on the ex-date after the deduction of applicable withholding taxes.Open p.11 ↗ |
S&P Dow Jones Indices calculates Price Return, Gross Total Return, and, when available, Net Total Return versions. |
| Withholding tax basis | Applicable withholding taxes are deducted for NTR versions; tax rates are provided in the Equity Indices Policies & Practices Methodology. | Net Total Return (NTR) versions, if available, reinvest regular cash dividends at the close on the ex-date after the deduction of applicable withholding taxes.Open p.11 ↗ |
Net Total Return versions reinvest regular cash dividends after deducting applicable withholding taxes, with tax rates specified in the supporting policies document. |
| Dividend treatment | PR excludes regular cash dividends; GTR reinvests them at the close on the ex-date without withholding taxes; NTR reinvests them at the close on the ex-date after applicable withholding taxes. | Price Return (PR) versions are calculated without adjustments for regular cash dividends. Gross Total Return (TR) versions reinvest regular cash dividends at the close on the ex-date without consideration for withholding taxes. Net Total Return (NTR) versions, if available, reinvest regular cash dividends at the close on the ex-date after the deduction of applicable withholding taxes.Open p.11 ↗ |
Regular cash dividends are excluded from PR, reinvested gross in GTR, and reinvested net of applicable withholding taxes in NTR. |
| Market disruption rule | Calculations and pricing disruptions, expert judgment, and data hierarchy are governed by S&P Dow Jones Indices’ Equity Indices Policies & Practices Methodology; unexpected exchange closures are also covered there. | For information on Calculations and Pricing Disruptions, Expert Judgment and Data Hierarchy, please refer to S&P Dow Jones Indices’ Equity Indices Policies & Practices Methodology.Open p.13 ↗ |
The document refers pricing disruptions and unexpected exchange closures to the Equity Indices Policies & Practices Methodology. |
| Recalculation policy | The recalculation policy is set out in S&P Dow Jones Indices’ Equity Indices Policies & Practices Methodology; real-time indices are not restated. | For information on the recalculation policy, please refer to S&P Dow Jones Indices’ Equity Indices Policies & Practices Methodology.Open p.13 ↗ |
The general recalculation policy is in the supporting policies methodology, and real-time indices are not restated. |
| Precision | 0 percentage points | In most cases, Investable Weight Factors (IWFs) are reported to the nearest one percentage point.From S&P DJI Float Adjustment ↗ |
Investable weight factors are generally reported to the nearest one percentage point. |
| Divisor adjustment | addition of companies, deletion of companies, changes in shares outstanding, changes to IWFs, changes to other factors affecting share counts, corporate actions that alter total index market value at constant prices, index rebalancing events, other non-market driven actions | The purpose of the index divisor is to maintain the continuity of an index level following the implementation of corporate actions, index rebalancing events, or other non-market driven actions.From S&P DJI Index Mathematics ↗ |
Divisor adjustments are triggered by additions, deletions, share-count and IWF changes, other share-count factors, rebalancings, and corporate or non-market actions that change total index market value at constant prices. |
| M10 Governance, change policy, disclosure · 18 fields | |||
| Index committee composition | Four members represent S&P Dow Jones Indices and three represent TMX, with a chair designated by S&P Dow Jones Indices. | The Index Committee is comprised of four members representing S&P Dow Jones Indices and three members representing the TMX. The Index Committee is chaired by a member designated by S&P Dow Jones Indices.Open p.12 ↗ |
The committee has four S&P Dow Jones Indices representatives, three TMX representatives, and an S&P Dow Jones Indices-designated chair. |
| Committee meeting frequency | Monthly and additionally as needed. | Meetings are held monthly, and from time to time, as needed.Open p.12 ↗ |
The Index Committee meets monthly and from time to time as needed. |
| Committee discussions confidentiality | Index Committee discussions are confidential because proposed index changes and related matters may be market moving and material. | S&P Dow Jones Indices considers information about changes to its indices and related matters to be potentially market moving and material. Therefore, all Index Committee discussions are confidential.Open p.12 ↗ |
All Index Committee discussions are treated as confidential and potentially market moving and material. |
| Exception notice | Clients receive sufficient notice whenever possible when treatment differs from the general rules. | In any scenario where the treatment differs from the general rules stated in this document or supplemental documents, clients will receive sufficient notice, whenever possible.Open p.12 ↗ |
When treatment differs from the stated rules, clients receive sufficient notice whenever possible. |
| Shortened announcement rule | The announcement period may be shortened if the stock cannot be traded for five days after announcement, but implementation is never earlier than the market close of the day following announcement. | In those cases when it is not possible to trade a stock five days after an announcement, the announcement period may be shortened. However, the implementation of an index adjustment is never earlier than the market close of the day following the announcement.Open p.13 ↗ |
When the normal five-trading-day notice is not possible, implementation remains no earlier than the market close of the day after the announcement. |
| Announcement timing | Additions and deletions are generally announced after market close. | Announcements of additions and deletions for the S&P/TSX Canadian indices are generally made after market close.Open p.13 ↗ |
Announcements of additions and deletions are generally made after market close. |
| Index ownership and distribution | S&P Dow Jones Indices calculates and manages the indices; TMX Group owns and distributes all S&P/TSX equity index data. | The S&P/TSX indices are calculated and managed by S&P Dow Jones Indices. The TMX Group Inc. (TMX) is the owner and distributor of all S&P/TSX equity index data.Open p.4 ↗ |
S&P Dow Jones Indices calculates and manages the indices, while TMX Group owns and distributes the S&P/TSX equity index data. |
| Oversight body | S&P/TSX Canadian Index Committee | The S&P/TSX Canadian indices are maintained by the S&P/TSX Canadian Index Committee.Open p.12 ↗ |
The S&P/TSX Canadian indices are maintained by the S&P/TSX Canadian Index Committee. |
| Discretion points | Changes or deviations from methodology, Exceptions in methodology application | Any changes to or deviations from this methodology are made in the sole judgment and discretion of S&P Dow Jones Indices so that the index continues to achieve its objective.Open p.5 ↗ |
S&P Dow Jones Indices has sole discretion over changes or deviations from the methodology, and Index Committees may make exceptions when applying the methodology. |
| Methodology review frequency | Number: 1; Period: 12 months | at least once within any 12-month period, the Index Committee reviews the methodology to ensure the indices continue to achieve the stated objectives, and that the data and methodology remain effective.Open p.12 ↗ |
The Index Committee reviews the methodology at least once in any 12-month period. |
| External review | S&P Dow Jones Indices may, in certain instances, publish a consultation inviting comments from external parties. | In certain instances, S&P Dow Jones Indices may publish a consultation inviting comments from external parties.Open p.12 ↗ |
External consultation may be published in certain instances to invite comments from external parties. |
| Notice period | 5 trading days | Whenever possible, announcements of additions or deletions of stocks or other index adjustments are made five trading days before the adjustments are implemented.Open p.13 ↗ |
Whenever possible, index adjustments are announced five trading days before implementation. |
| Change announcement | Major news services, TMX Datalinx Index Notices subscription, S&P Dow Jones Indices website, major quote vendors, investment websites, print and electronic media | Press releases are released to major news services.Open p.13 ↗ |
Announcements are released to major news services, detailed Index Notices are available through TMX Datalinx, and index levels are published on S&P DJI's website, quote vendors, websites, and media. |
| Constituents published | Bool: Yes; Frequency: Daily | Daily constituent and index level data are available from the Toronto Stock Exchange on subscription.Open p.15 ↗ |
Daily constituent data are available from the Toronto Stock Exchange on subscription. |
| Material change definition | A material change is assessed by its impact on the index objective or represented market or economic reality, core characteristics, constituent selection or weightings, composition or index level, calculation methods or formulas and performance, and index usage. | The determination of materiality considers the following factors: impact on the index objective or market/economic reality the index aims to represent impact on the index’s core characteristicsFrom S&P DJI Index Governance Policies ↗ |
Materiality considers substantial effects on the index objective, core characteristics, constituent selection or weights, index composition or level, calculation methods or performance, and index usage. |
| Consultation procedure | S&P DJI informs users and stakeholders of the proposal, rationale and timing; provides a feedback period, generally one calendar month; considers feedback before final committee review; may request clarifications; may shorten or extend the period; gathers feedback for the Index Committee; and aims to announce results within 30 calendar days after consultation closes. | As part of a methodology change consultation, S&P DJI: takes reasonable steps to inform users and other stakeholders of the proposed changes, the rationale for the methodology change, and the proposed timing.From S&P DJI Index Governance Policies ↗ |
Public consultations state the proposal, rationale and timing, accept feedback during an announced period generally lasting one calendar month, allow committee consideration and clarifications, and result in an announcement aimed to occur within 30 calendar days after closing. |
| Error correction policy | Errors involving closing prices, corporate actions, calculations, data entry, or methodology application may be corrected; events discovered within two trading days are generally recalculated, and later events are referred to the Index Committee. | If one of the following recalculation events is discovered within two trading days of the event’s occurrence, the index is generally recalculated.From S&P DJI Equity Indices Policies & Practices ↗ |
S&P DJI generally corrects errors discovered within two trading days and uses Index Committee discretion for errors discovered after that period. |
| Cessation policy | Index cessations are governed by the separate S&P Dow Jones Indices Cessations Policy. | For information on index cessations, please refer to the S&P Dow Jones Indices Cessations Policy.From S&P DJI Equity Indices Policies & Practices ↗ |
The supplied methodology does not state cessation circumstances and refers readers to the separate S&P DJI Cessations Policy. |
Open points · 25Model-written, for reference
- 1No explicit launch date, base date, base value, index ISIN, methodology version, or methodology edition date was provided.
- 2No numeric minimum free-float percentage or minimum foreign-room percentage was stated.
- 3No minimum voting-rights requirement or financial profitability/health screens were stated.
- 4No suspension treatment or extreme-price-increase screen was stated.
- 5The supplied text did not explicitly classify Canada as developed, emerging, frontier, standalone, or custom.
- 6The benchmark regulatory status is referred to an external S&P DJI database rather than stated.
- 7The listing-period rule is stated as six full calendar months; the available eligibility schema has no calendar months unit, so the value was preserved in a descriptive unit.
- 8Selection method, ranking metrics, target constituent count, tie-break rule, industry neutrality rule, and reserve list were not stated in the provided capping section.
- 9The base weighting scheme, free-float factor methodology, domestic inclusion factor, foreign ownership treatment, group cap, sector cap, country cap, and shares-outstanding source were not stated in the provided capping section.
- 10The divisor adjustment mechanism for maintaining index continuity was not stated in the provided capping section.
- 11The document does not specify numerical buffer entry or exit ranks, size-segment buffer thresholds, liquidity buffers for existing constituents, or maximum turnover per review.
- 12The document does not provide an IPO fast-entry size threshold, timing rule, or excluded boards.
- 13The document does not state a reserve list or replacement policy for constituents removed between reviews.
- 14The document does not specify a deletion price other than the zero-price treatment for newly added spin-offs.
- 15The document does not state a minimum threshold for implementing share or free-float changes between quarterly reviews.
- 16The document does not provide detailed timing or publication channels for ordinary quarterly review announcements beyond advance notice for rescheduled rebalancings.
- 17No explicit published index-level precision or number of decimal places was found.
- 18No list of specific divisor-adjustment events was provided; the methodology refers detailed index mathematics to S&P Dow Jones Indices' Index Mathematics Methodology.
- 19No definition of material change specific to methodology changes was found.
- 20No detailed consultation procedure beyond possible publication of consultations was found.
- 21No specific error correction or restatement policy was provided in the text; it is referred to the Equity Indices Policies & Practices Methodology.
- 22No index cessation or discontinuation policy was found.
- 23The provided sections do not state an ISIN, launch date, base date, or base value specific to the S&P/TSX 60 Capped.
- 24The provided sections do not give index-specific eligibility screens or selection mechanics beyond its identity as the large-cap S&P/TSX 60 capped version.
- 25The provided sections do not state index-specific buffers, reserve lists, replacement policy, share-change thresholds, calculation precision, or intended uses for the S&P/TSX 60 Capped.
Read by a language model (doubao-seed-2.1-pro) on 2026-10-04 · prompt 1.3 · schema 1 · 96 of 96 quotes found word for word in the PDF · includes general rules: Equity Indices Policies & Practices v2026.08, Index Mathematics v2026.09, Float Adjustment v2026.09, Index Governance Policies v2026.05
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