S&P 100

The S & P 100 (Standard & Poor's 100) is an equity index of 100 of the largest U.S. companies in the S & P 500 includes the shares. It was developed in 1976 by the Chicago Board Options Exchange ( CBOE ) and is since 1983 part of the index family of the rating agency Standard & Poor's.

Calculation

When S & P 100 is a price index. As a basis, the 100 largest public companies in the S & P 500, on the New York Stock Exchange ( NYSE), NYSE Amex (formerly the American Stock Exchange) and NASDAQ are traded. The index is calculated by the value index formula that specifies that the measurement number, the total change in value. The S & P 100 is not adjusted for dividend payments. Corporate actions such as stock splits have no ( distorting ) influence on the index. They are weighted by market capitalization. About inclusion in the index determines the rating agency Standard & Poor's. The calculation is during NYSE trading hours 9:30 to 16:00 local time ( 15:30 to 22:00 CET) updated every second.

The S & P 100 since 1993, served as the basis for the CBOE Volatility Index ( VIX), which is calculated by the Chicago Board Options Exchange ( CBOE ). Only for the conversion of 2003, the calculation of the VIX to the S & P 500 moved The volatility index VIX measures the market expectations of short-term volatility based on option prices on the index. Between VIX and S & P 100/500 there is an opposite correlation. Increases the volatility of the VIX, then drops the S & P. If the volatility of the VIX, then increases the S & P.

History

20th century

On 2 January 1976, the Chicago Board Options Exchange ( CBOE ) first published the " CBOE 100 ". The underlying first was 100 points. The trading of options on the index began on 11 March 1983. According to an agreement between the CBOE and Standard & Poor's index was on 1 July 1983 its present name "S & P 100 " and the index family of Standard & Poor's has assigned. On November 24, 1997, a division of S & P 100 was 2-for- 1 Thus, the underlying halved from 1976 to 50 points.

Milestones in the development of the S & P 100 were December 11, 1985, when the index with 100.37 points for the first time closed above the 100 -point mark and February 25, 1998, when he trade with 500.04 points for the first time ended above the mark of 500 points. Also in the following years marked the stock market barometer more record highs. On 23 December 1998, the S & P 100 closed at 610.48 points for the first time on the 600 -point mark. The mark of 700 points fell for the first time on 30 June 1998, when the index closed at 704.47 points and the limit of 800 points on March 21, 2000, when he finished trading with 806.87 points.

On 24 March 2000, the index marked with a final score of 832.65 points, an all time high.

21st Century

After the bursting of the speculative bubble in the technology sector ( dot-com bubble ), the index fell to a low of 392.69 points to 9 October 2002. That was a decline since March 2000 by 54.5 percent. The October 9, 2002 marks the end of the descent. From autumn 2002, the S & P 100 began to rise again. On 11 June 2003, the index exceeded with a final score of 501.95 points back the 500 -point mark. Until 9 October 2007, the S & P 100 rose to 729.79 points.

In the course of the international financial crisis in the U.S. real estate crisis originated in the summer of 2007, the S & P 100 began to fall again. On 7 October 2008, the stock market barometer closed at 473.61 points below the limit of 500 points. At the lowest level since September 11, 1996, the index fell on March 9, 2009, when he finished trading with 322.13 points. Since October 9, 2007, this represents a decrease of 55.9 percent.

The March 9, 2009 marked the end of the descent. From the spring of 2009, the stock market index has again recovered strongly. Until 29 April 2011, he rose by 88.8 percent to a closing level of 608.33 points. The slowdown in the global economy and the intensification of the euro crisis led to a fall in the stock index. On 3 October 2011, the S & P 100 trading ended at 500.09 points. The loss since its peak on 29 April 2011 amounted to 17.8 percent.

The announcement of new bond purchase programs of the European Central Bank and the U.S. Federal Reserve in principle unlimited extent led to a recovery of prices in the stock market. The monetary stimulus played a greater role in price formation, as the global economic slowdown and the position of the company. On October 4, 2012, the index closed at 673.19 points, up by 34.6 per cent as on October 3, 2011.

Highs

On 24 March 2000, the S & P 100 marked in the course of trade and on a closing basis all-time highs.

Milestones

The table shows the milestones of the S & P 100

Annual development

The table shows the annual performance of the S & P 100 since 1975.

Composition

The S & P 100 consists of the following companies (as of 31 December 2012):