The FTSE Med Index tracks the performance of Stock Exchanges in the eastern Mediterranean region. It comprises of the largest and most liquid companies in the region that are quoted on the Stock Exchanges of Cyprus, Greece and Israel. The index is a tradable index and will be calculated in real time. It has been designed so that the number of collaborating exchanges can expand and it is hoped that futures and options will be created on this index in the near future.
Joint Press Release - Launch of FTSE Mediterranean Index
Athens Exchange, Tel-Aviv Stock Exchange and Cyprus Stock Exchange organised today at Hilton Hotel in Nicosia, in the presence of an official from the Global Index provider FTSE Group, a press conference for the launching of the joint stock market index the FTSE Mediterranean Index, within the framework of the co-operation between the four participants. This event was attended by Cypriot and foreign press media representatives. The FTSE-MED Index is composed of stocks of the three Exchanges, some of which are also listed on US and other European stock markets. The market capitalisation is almost $50 billion. The final structure of the Index and its initial constituents have been recently agreed on by all participants during a series of meetings and a joint agreement was signed. The index has been designed in accordance with a set of specific Ground Rules for the calculation of the Index, which have also been agreed. By designing this regional index which will be recognised by the international investment community, the three Exchanges aim at attracting foreign investment in the region, introducing additional derivatives products and providing a useful tool for the evaluation of the regional market. The three Exchanges are also going to invite other Mediterranean Exchanges to participate in the Index.
Ground Rules for the Management of the FTSE-Med Index