Amsterdam Stock Exchange

AEX
Long name	Amsterdam European Options Exchange Index AEX
Owner/publisher/sponsor	EOE European Options Exchange and Amsterdam Stock Exchange (EOE-Optiebeurs en Amsterdamse Effectenbeurs)
Number of constituents	25 leading Dutch companies representative for the general trend on the Amsterdam Stock Exchange
Construction principle	Capitalization-weighted arithmetic average
Base date/base value	1983 / 100.00
Interval of calculation	1 minute
Source: European Options Exchange, 1995a, 1995b.

The European Options Exchange (EOE) publishes four indexes: The Amsterdam EOE Index AEX, the Eurotop 100 Index, the Amsterdam MidKap Index, and the Dutch Top 5 Index (European Options Exchange, 1995a). The EOE Index is generally viewed as the representative index for the price dynamics of the Dutch stock market, and in this property it serves as an underlying for options and futures trading.

Since January 1, 1994, the EOE Index is constructed as a capitalization-weighted arithmetic average, (European Options Exchange, 1995c), viz.

with

The index sample is adjusted annually in February on the basis of the outstanding shares during the previous three full calendar years (European Options Exchange, 1995a).The weights of the individual stocks are revised to take account of stock dividends, bonus payments, or rights isses. In the case of rights issues, the adjustment is based on the hypothetical value of the right. The EOE-Index is, however, left unadjusted if the effect of any of the beforementioned transactions is less than 0.1 index points.

References:

European Options Exchange (1995a): Amsterdam EOE-Index, mimeograph, Amsterdam.

European Options Exchange (1995b): The Composition of the Amsterdam EOE-Index, European Options Exchange: Amsterdam.

European Options Exchange (1995c): Jaarverslag / Annual Report 1994, European Options Exchange: Amsterdam.

AEX: European Options Exchange, Amsterdam. Text: Institute for Advanced Studies, Vienna, 1996. All rights reserved.

This page is a part of the European Stock Market Indexes Website of the Institute for Advanced Studies in Vienna, Austria. Text by Christian Helmenstein. No part of this page or the European Stock Market Indexes Website may be reproduced, stored in a retrieval system, or transmitted without the prior permission of the copyrightholder(s), subject to the exceptions provided for by law. In any case, proper reference would run: "European Stock Market Indexes Website, Amsterdam EOE-Index AEX, Institute for Advanced Studies, Vienna (http://www.ihs.ac.at/fin/finix/direct.html)." For further information on stock market index construction principles (NOT: data sources etc.) contact the IHS Financial Indicators Research Group. No liability assumed.

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