Swiss Market Index

The Swiss Market Index ( SMI) is a blue-chip index 's key equity index in Switzerland. The index base is at 1500.00 points as at 30 June 1988. This is in contrast to the DAX by a price index, dividends are not included in the index.

Calculation

The Swiss Market Index (SMI ) tracks the 20 largest and most liquid stocks in the SPI large-and mid -cap segment. The SMI was standardized on 30 June 1988 at 1500 index points. First and foremost, it is available as a non-dividend -adjusted index (price index ) is available, but also as a performance index the SMIC (SMI Cum Dividend). The titles included in the SMI currently represent around 90 percent of market capitalization and 90 percent of the trading volume of all companies listed on the SIX Swiss Exchange Swiss and Liechtenstein equities. Since the SMI is considered for the Swiss market, it will be like Exchange - traded fund used as a benchmark for many financial instruments such as options, futures and index funds.

To be included in the SMI, must meet strict criteria relating to a title liquidity and market capitalization. On one hand, there must be at least 50 percent of the average SPI liquidity and on the other hand, a minimum free-float capitalization of 0.45 percent of the SPI - capitalization. In addition, the quarterly ranking is based on authoritative volume and capitalization. Since 24 September 2007 The SMI comprises only the fixed number of 20 titles. Previously, the number fluctuated between 18 shares ( 1993) and 29 shares ( 2000). The determining factor for the association of companies SMI is the ranking, as measured by average capitalization and turnover during the period of one year.

History

Historical Overview

The Swiss Market Index ( SMI) was first published on 1 July 1988. Milestones in the development of the SMI was October 5, 1993, when the index first closed above the 2,500 -point mark and May 5, 1997, when he finished trading for the first time surpassed the mark of 5,000 points. In the following years the index marked another record levels. On March 27, 1998 he finished first on the 7500 -point mark. Until 23 August 2000, SMI rose to a closing level of 8377.00 points.

After the bursting of the speculative bubble in the technology sector ( dot-com bubble ), the index fell to a low of 3675.43 points to 12 March 2003. That was a decline since August 2000 by 56.1 percent. March 12, 2003 marks the end of the descent. From the spring of 2003, the SMI began to rise again. Until 1 June 2007, the stock index rose to a closing level of 9531.46 points. Since the low in March 2003, the profit amounted to 159.3 percent.

In the course of the international financial crisis in the U.S. real estate crisis originated in the summer of 2007, the SMI began to fall again. On 17 February 2009, the SMI ended trading below the limit of 5000 points. A new low was achieved by the Index on March 9, 2009, when he finished with 4307.67 points. Since 1 June 2007, this represents a decrease of 54.8 percent. The March 9, 2009 marked the turning point of the descent. From the spring of 2009, the SMI was back on the way up. Until 15 April 2010, it rose by 61.7 percent to a closing level of 6967.56 points.

The euro crisis from 2010 and the slowdown of the global economy in 2011 led to a fall in the Swiss blue-chip index. On 8 August 2011 the SMI ended trading at 4967.99 points. The loss since its peak on 15 April 2010 is 28.7 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 January 11, 2013, the index closed at 7188.22 points, up by 44.7 per cent as on August 8, 2011.

Highs

The overview shows the all-time highs in the SMI.

Milestones

The table shows the milestones of SMI since 1988.

The best days

The table shows the best days of SMI since 1988.

The worst day

The table shows the worst days of SMI since 1988.

Annual development

The table shows the annual performance of the SMI since 1988.

Composition

The SMI consists of the following companies (as of: September 27, 2013).