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At the June 2014 meeting the FTSE Governance Board approved the following rule clarification to the FTSE UK Index Series, where the previous rule was silent on the use of the reserve list for a company that is already due to be replaced as part of the index review.
Please note the following change to the ground rules with immediate effect.
Old Rule
7.3.12 Where a company is deleted after the FTSE Europe, Middle East & Africa Regional Advisory Committee has met and approved periodic changes to the index but before the periodic changes have been implemented, the highest ranking company from the new Reserve List (see Rule 7.6), excluding current index constituents, will replace the deleted company.
New Rule
7.3.12 Where a company is deleted after the periodic review changes have been announced but before they have been implemented, the highest ranking company from the new Reserve List (see Rule 7.6), excluding current index constituents, will replace the deleted company.
Where a company being deleted is already due to be replaced in the FTSE 100 or FTSE 250 as part of the periodic review, it should be replaced by the largest company previously announced for addition to the index in the review.
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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