Stockholm Stock Exchange

SX-16
Long name	Stockholm Stock Exchange SX-16 Index
Owner/sponsor	Stockholm Stock Exchange
Number of constituents	Shares of the top 16 Swedish companies ranked by turnover during the 12 month period ending one month before the reconstitution of the index sample; turnover figures are adjusted for temporary events such as tender offers.
Construction principle	Capitalization-weighted value ratio
Base date/base value	December 31, 1979 / 100.00
Interval of calculation	Real time
Source: Stockholm Stock Exchange, 1995a.

The series of indexes published by the Stockholm Stock Exchange (1995a) comprises 13 indexes altogether:

• SX Composite (General) Index
• SX-16
• SX OTC
• SX-O and
• 9 industry indexes pertaining to the following branches with a total of 123 companies (July 6, 1995; Stockholm Stock Exchange, 1995b): engineering, forestry, chemicals and pharmaceuticals, miscellaneous manufacturing, wholesale and retail trade, service industry, real estate and construction, holdings, and banking and financial services.

The SX Composite Index, the SX OTC and the SX-O are based on disjoint sets of stocks which are constituted by the respective market segment the indexes are referring to, viz. the official market segment (AI and AII), the over-the-counter market segment, and the unofficial market segment. The SX-16 is based on 16 most actively traded stocks listed in the official market segment.

The indexes are constructed as a chain-linked capitalization-weighted price index of the value ratio type that employ the latest paid price. If there is no paid price available, the bid price is used. If there are neither paid nor bid prices available, the paid price of the previous day, or, if that does not exist, the bid price of the previous day is used.

Adjustment procedures account for the inclusion of new stocks (starting the earliest on the second day after registration), stock dividends and stock splits, secondary offerings, issuance of new classes of stock, convertible bonds and warrants with preferential rights for existing shareholders, and the conversion of bonds or the exercise of options. The following events, by contrast, do not prompt action: Dividend payments, the sale of assets such as stock in subsidiaries (spin-off) to shareholders, the issuing of convertible bonds or warrants without preferential rights for existing shareholders, and the (temporary) suspension from trading.

References:

Stockholm Stock Exchange (1995a): Information on the Stockholm Stock Exchange Stock Index, Stockholm Stock Exchange: Stockholm.

Stockholm Stock Exchange (1995b): Branschindex Företagsindelning (Company list for Business Sector Indices), mimeograph, Stockholm.

SX-16: Stockholm Stock Exchange, Stockholm 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, Stockholm Stock Exchange Index SX-16, 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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