OMX harmonizes index names
22.08.2005
VLN
The new OMX index name structure covers the most important indexes – all-share, tradable, benchmark and sector indexes. The name structure is constructed around the OMX name, the specific stock exchange and the index of choice.
Furthermore, the benchmark indexes in Copenhagen and Stockholm will be changed to OMXCB and OMXSB, respectively, in line with the name of the Helsinki benchmark index OMXHB. Sector, industry group and industry indexes will be harmonized accordingly. Attached is a chart with the complete OMX index standard.
“A harmonized index structure will facilitate the comparability of OMX’s indexes and enhances the knowledge of the Nordic and Baltic markets, thereby encouraging a further increase in trading in the region’s securities,” says Jukka Ruuska, President of OMX Exchanges. “It is our ambition that the harmonization of the index structure will satisfy the requirements of both local and international players, while simultaneously contributing to the competitiveness of the region as a whole.”
To date the index harmonization process has included rule harmonization, implementation of GICS classification standard, developed by MSCI and Standard & Poor’s, a new benchmark and sector indexes in Helsinki and the introduction of a new index calculation system. The harmonization of the index names started last autumn, with the change of the tradable index names in Stockholm and Helsinki into OMX Stockholm 30 and OMX Helsinki 25.
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