BOVESPA Index and Brazilian stock exchange

The BOVESPA is the flagship index of Brazilian stock market. It consists of 68 stocks which represent 70% of market capitalization and 80% of its total trades. The BOVESPA is calculated based on the prices of its stock on 1st February, 1968. The constituents of the index are reviewed quarterly to make sure that the components of the index represent 70% of all stock value traded. For any stock to be eligible to be included in the index, it should meet criteria, namely, it should have been traded on stock exchange in the past 12 months, the trading value of the stock should be more than 0.1% of the total stock traded flow in the exchange and 80% of the stocks should be traded on exchange.

The Brazilian stock exchange, also called B3 (in full,B3 - Brasil Bolsa Balcão S.A. or B3 - Brazil, Stock Exchange and Over-the-Counter Market). There are 381 companies traded on the stock exchange as on April 30,2008. It was founded on August 23, 1890, BOVESPA and other Brazilian stock exchanges were state financed companies and the brokers were appointed by the government. There are many indices reflecting the broad state of market and economy (like IBOVESPA, IBRX50, etc), sector specific indices (like IEE, INDX, ICON, etc) and others like IFIX which consists of Real State Investment Funds.

MEX IPC Index and Mexican Stock Exchange

MEX IPC is the main benchmark index of Mexico Stock Exchange and comprises 20-25 stocks which are highly marketable and with a minimum market value of $100 million. The constituents of the index are revised every 6 months and the maximum wieghtage that each stock can hold is 10% at the start of calculation period. Each stock, as a constituent of index, represents the sector it belongs to and the index is a balance weighted selection of shares. The IPC’s value is related to previous day’s value rather than its value on its base date.

There are 2 stock exchanges in Mexico. Bolsa Institucional de Valores and Mexican Bolsa, Mexol (BMV).BMV is the second largest stock exchange is Latin America and fifth largest in Americas. Until its IPO, BMV was owned and managed by banks and brokerage firms. The exchange trades stocks, debentures, fund shares, warrants, commercial paper, development bank bonds, Investment Unit Bonds, etc. It calculates 13 indices of stock prices. Each of them can be used as derivatives products listed on specialized markets.

MOEX Russia Index, RTS Index and Moscow Exchange

There are two indices in Moscow Stock Exchange. The MOEX index is a rube denominated benchmark index of Russian stock market. The number of constituents in the index is variable and depends on liquidity and trading frequency.

The Russian trading System Index is a free float capitalization-weighted index of 50 Russian stocks and is US dollar-denominated. The index was introduced in September 1995 with a base value of 100.

Moscow exchange was established on 19th December, 2011 after merging of two large Russian stock exchanges, Moscow Interbank Currency Exchange and the Russian Trading System. This was in an effort to make Moscow into an international financial hub. Apart from MOEX and RTS Index, the exchange calculates and publishes RTS standard index, RTS- 2 index, RTS Siberia Index and 7 sectoral Indexes. One can trade in Equities, bonds, foreign exchange, money market and derivatives at the various platforms available in Moscow Exchange. Though Russian markets are growing with rapid pace, they are still in relatively nascent stage.

ISE National 100 Index and Turkey Stock Exchange (Borsa Istanbul)

The ISE National 100 Index (XU100) is a capitalization weighted index and consists of 100 national stocks, real estate investment trusts and venture capital investment trusts which are listed on Istanbul Stock Exchange. It is a major index on ISE and consists of ISE- National 50 and ISE- National 30.

Borsa Istanbul is the only stock exchange of Turkey. It was incorporated as a company in April 2013 and is jointly owned by Government of Turkey, Istanbul stock exchange (ISB) and its members. ISE has about 371 companies listed and a number of national, sector and sub sector indices like ISE Second National Market Index, ISE New Economy Market Index and ISE Investment Trusts Index. The products that can be traded are equities, bonds and bills, revenue-sharing certificates, private sector bonds, foreign securities and real estate certificates as well as international securities

Jakarta Composite Index , Jakarta Islamic Index and Indonesian Stock Exchange

There are two main indices in the Indonesian Stock Market. Jakarta Composite Index (now known as IDX) is an index of all stocks listed on Indonesia Stock Exchange. The Jakarta Islamic Index is an index consisting of all companies that follow the Sharia business code. Islamic laws do not permit businesses of gambling, charging interest, traditional banking and financing. Hence the Jakarta Islamic Index will not include banks and other financial institutions in its index.

Indonesian stock exchange is based in Jakarta, Indonesia. It was formed after the merger of Jakarta Stock Exchange and Surabaya Stock Exchange in 2007. It has about 566 companies listed on the exchange with approximately 51.33% foreign investors and 48.67% domestic investors. Besides Jakarta Composite index and Jakarta Islamic Index, there are other 4 types of Index, namely, Indivdual Index, Sector Stock price Index, LQ45 index and Main Board and Development Index. In May 2011, Indonesian stock exchange launched Indonesia Sharia Stock index, to promote Sharia (Islamic Law) capital investments in the market.

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