NEW YORK--(EON: Enhanced Online News)--NYSE Euronext today announced an enhanced methodology for the NYSE Arca Gold Miners Index (GDM), the preeminent index covering the gold mining industry. For the first time ever, the index will include non-U.S. listed companies and set a minimum market capitalization requirement of $750 million for component companies. The changes will be enacted at the next index rebalance effective before the open on Monday, September 23, 2013.
“These changes are indicative of the growing demands by clients who want exposure to a global universe of larger-cap gold mining companies.”
“The NYSE Arca Gold Miners Index is the leading benchmark covering the gold mining industry for the community of market participants and exchange traded product issuers on our exchange,” said Dwijen Gandhi, managing director, Global Index and Exchange-Traded Products. “These changes are indicative of the growing demands by clients who want exposure to a global universe of larger-cap gold mining companies.”
The NYSE Arca Gold Miners Index is a modified market capitalization weighted index comprised of publicly traded companies primarily involved in the mining of gold and silver in locations around the world.
Below are the key changes to the NYSE Arca Gold Miners Index methodology:
- access to non-U.S. listed companies, ensuring component diversity and international exposure;
- new index components must have a minimum of $750 million in market capitalization;
- prioritization of U.S. cross-listings, American Depository Receipts and Global Depository Receipts for international companies;
- implementation of a buffer zone around the $750 million market capitalization and other trading requirements to reduce turnover during quarterly rebalances.
The rebalance and methodology changes will result in the following companies being added to or deleted from the NYSE Arca Gold Miners Index effective for Monday, September 23, 2013:
|Alacer Gold Corp||Allied Nevada Gold Corp|
|Alamos Gold Inc||Golden Star Resources Ltd|
|Argonaut Gold Inc||Seabridge Gold Inc|
|Centamin PLC||Silver Standard Resources Inc|
|Detour Gold Corp||Tanzanian Royalty Exploration Corp|
|Dundee Precious Metals Inc||Vista Gold Corp|
|G-Resources Group Ltd|
|McEwen Mining Inc|
|Newcrest Mining Ltd|
|Osisko Mining Corp|
|Sibanye Gold Ltd|
|Zhaojin Mining Industry Co Ltd|
|Zijin Mining Group Co Ltd|
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NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets - the New York Stock Exchange, NYSE Euronext, NYSE MKT, NYSE Alternext and NYSE Arca - represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index. For more information, please visit: http://www.nyx.com.