Deutsche Boerse Develops New DAX Index Without Caps
BERLIN (Reuters) - Deutsche Boerse is designing a new index to run alongside the current benchmark index DAX that would not build in caps that limit the weighting of individual component stocks, the exchange operator's ISS Stoxx division said on Monday.
The new index, due to be published in the first quarter of this year, will not limit a single company from becoming more than 15% of the index, as is the case with the current DAX.
The issue of limits has arisen due to the increase in the shares and market capitlization of business software company SAP, whose size dwarfs other constituents of the DAX but is now limited in the index's weighting.
Business magazine Capital first reported the new index.
(Reporting by Andrey Sychev and Tom Sims, Editing by Friederike Heine)
