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At the December 2013 meeting the FTSE Policy Group approved the following rule change making non sterling quoted stocks ineligible for the FTSE UK Index Series from immediate effect.
Please note: Existing non sterling quoted constituents of the FTSE UK Index Series will be removed from the index in line with the annual review in June 2014
Old Rule
4.0 ELIGIBLE SECURITIES
4.1 Only Premium Listed Equity Shares, as defined by the Financial Services Authority in its Listing Rules Sourcebook, which have been admitted to trading to the London Stock Exchange are eligible for inclusion in the FTSE 100, FTSE 250, FTSE 350, FTSE SmallCap, FTSE All-Share, FTSE Fledgling and FTSE All-Small Indices.
4.9 Securities must be sufficiently liquid to be traded. The following criteria will be used to ensure that illiquid securities are excluded:
a) Price - The FTSE Europe, Middle East & Africa Regional Committee must be satisfied that an accurate and reliable price for the purposes of determining the market value of a company exists. The FTSE Europe, Middle East & Africa Regional Committee may exclude a security from the FTSE UK Index Series should it consider that an accurate and reliable price is not available. A Sterling denominated price on SETS must exist for a company to be included in the FTSE UK Index Series. For companies with multiple lines of equity, a Euro or US Dollar denominated price may also be included where there is an eligible Sterling line, subject to Rule 4.3.
New Rule
4.0 ELIGIBLE SECURITIES
4.1 Only Premium Listed Equity Shares, as defined by the Financial Conduct Authority in its Listing Rules Sourcebook, which have been admitted to trading on the London Stock Exchange with a Sterling denominated price are eligible for inclusion in the FTSE 100, FTSE 250, FTSE 350, FTSE SmallCap, FTSE All-Share, FTSE Fledgling and FTSE All-Small Indices.
4.9 Securities must be sufficiently liquid to be traded. The following criteria will be used to ensure that illiquid securities are excluded:
a) Price There must be an accurate and reliable price for the purposes of determining the market value of a company.
An updated version of the FTSE UK Index Series Ground Rules is now available on the FTSE website.
For further information or general enquiries please contact us at info@ftse.com or call:
| Client Services in UK: |
Tel: +44 (0) 20 7866 1810 |
| Client Services in Europe, Middle East & Africa: |
Tel: +44 (0) 20 7866 1810 |
| Client Services in US: |
New York: (Domestic) + 1 888 747 FTSE (3873) / (International): +1 212 314 1139 |
| Client Services in Asia Pacific: |
Hong Kong: + 852 2164 3333 Australia:(Domestic Toll-Free) + 1800 653 680 / (International) + 61 (2) 9293 2864 Japan + 81 (3) 3581 2764 |
Alternatively please visit our website at www.ftse.com
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