The North Stock Exchange releases index preparation plan, the first index of Bei Certificate 50

On September 2nd, on the occasion of the first anniversary of the establishment of the establishment, the Bei Stock Exchange launched two reform and innovation measures, issued the Beijing Stock Exchange Index Preparation Plan, and publicly solicited opinions on the financing and securities lending system (referred to as the "two merges"). The first index of the Bei Stock Exchange is the 50 ingredient indexes of the Bei Stock Exchange, which is positioned as the overall performance of the 50 most representative of the Bei Stock Exchange market.

According to the Beijing Stock Exchange, with the continuous development of the market in the future, it will further compile indexes with different scale, industry, themes, and style characteristics, enrich the market index system of the Bei Stock Exchange, and explore and create a "barometer" reflecting the development of innovative SMEs.

Why did the first index choose the Bei Stock 50 Index? What is the significance of the index preparation, what is the positioning and how it is prepared, and the reporter combed you one by one on these key issues.

Question 1: Why did the North Certificate 50 Index be prepared?

The index is an important reference for all parties to follow -up observations and investment operations. The launch of the index can reflect the overall trend of the market in a timely manner, and it also helps to focus on the performance of the stock price of the core listed company. While objectively and accurately evaluating the market, it provides tracking targets for index investment products.

The relevant person in charge of the Bei Stock Exchange said that specifically, the parties to the market can understand the overall price changes and trends of the listed company through the Beijing Stock Exchange 50; investors and various professional institutions can conduct market analysis and performance benchmarks through Bei Stock 50; With the index release and running smoothly, it can guide the agency to continue to develop passive products that follow the North Stock 50.

Question 2: What is the positioning of the Bei Stock 50 Index?

The 50 ingredient indexes of the Bei Stock Exchange are the first index of the Bei Stock Exchange Market. It is positioned as the overall performance of the 50 most representative securities of the Bei Stock Exchange market. Essence

In the future, with the continuous development of the market, the Beijing Stock Exchange will further compile indexes with different scale, industry, themes, and style characteristics, enrich the market index system of the Bei Stock Exchange, and explore and create a barometer reflecting the development of innovative SMEs.

Question 3: How to prepare the Bei Stock 50 Index?

In order to facilitate investors to understand the operation, the preparation of the Bei Stock 50 Index has drawn on the experience of the development of domestic and overseas market indexes and exponential investment products, and fully considers the specific market operation. The design of various indicators follows the principle of standardization. In terms of index type and the number of sample stocks, the component index is compiled, and the number of fixed sample stocks is 50.

According to the relevant person in charge of the Beijing Stock Exchange, from the actual situation of the Bei Stock Exchange, the distribution is more concentrated, and the head company has a good characteristic. In terms of selection, the Bei Stock 50 Index was selected with a total market value sort of the total daily average market value after eliminating the average daily transaction amount.

In terms of weights, the Bei Stock 50 Index uses the market value of free circulation, and the hierarchical file is graded to give weight factor. In order to prevent the index from being affected by excessive influence of individual securities and improve the control of the index, referring to the beneficial experience at home and abroad, setting a 10%upper limit of a single stock, the sum of the top five sample equity weights does not exceed 40%.

In terms of sample stock adjustment, the index is published in the early stages of the release of the index, and regularly adjusts the sampling ratio and the buffer system is set up on a quarterly. The upper limit of the adjustment ratio is set to 10%, and the buffer ratio is set to 20%, that is, the buffer area of ​​50 samples is between 40-60. The new samples ranked in the top 40 are preferred, and the old samples within 60 are preferred.

In terms of new shares, the securities were included in the sample space 6 months after listing. Since the listing, the average daily market value ranks in the top 5 of the Beijing Stock Exchange market and the total market value of more than 10 billion yuan. Market entities can learn more through the Beijing Stock Exchange website (www.bse.cn) and CSIN

Question 4: Does the preparation index have a market foundation?

Relevant person in charge said that after the opening of the North Stock Exchange, the number of listed companies has gradually increased, and the overall operation is stable. It has a market foundation for the preparation of the release index.

From the perspective of the market size, as of September 2, 2022, the number of listed companies in the Beijing Stock Exchange reached 110, with a total market value of nearly 200 billion yuan. High -quality enterprises in diversified innovation areas such as consumer fields.

From the perspective of market operation, the average of 5.6 years before the listing of 110 companies was listed on average, 57%of the company listed for 1 year, 75%of the company listed for 6 months, the market cultivation time was longer, and the overall operation was relatively stable.

From the perspective of index preparation, 81 securities have met the conditions of sample space. Through market value and liquidity indicators, 50 sample stocks with large scale, good liquidity, high recognition, and most representative of the samples have a certain amount. At the same time, relying on the sampling mechanism to bring newly listed high -quality stocks in time to provide strong fundamental support for subsequent.

Question 5: What are the considerations of the base date of the Bei Cecilia 50 Index?

The Bei Stock Exchange was officially established on November 15, 2021, and has been running steadily for nearly half a year at the end of April 2022. The Bei Certificate 50 Index set the base date to April 29, 2022.

The North Stock Exchange stated that there are three main considerations.The first is in line with market practices. The core indexes of the GEM Index, Hang Seng Index, Nasdaq 100, and MSCIA50 are based on the end of the month as the index base day.Second, the preliminary operation time of the market is consistent with the new shares in the sample space (6 months) of the new shares in the index preparation plan. The market cognition is initially formed. The price game is relatively sufficient, which can more objectively reflect the real level of the market.Third, there is a certain period of traceability, which can reflect the historical trend after the operation of the Bei Stock Exchange's market is relatively stable.Sichuan Observation (Source: Beijing Daily)

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