Sofia Bourse To Change SOFIX Calculation Methodology
The Bulgarian Stock Exchange (BSE) said it will change the methodology for calculating its blue-chip SOFIX index.
"Adoption of the amendments will allow when selecting issues in the SOFIX base liquidity requirement to be more resistant to changing market conditions, avoiding fixed limits for turnover and number of transactions," the BSE said in a statement on Friday.
The changes envision the abolishment of the requirement for a minimum turnover of 2.0 million levs ($1.3 million/1.0 million euro) and a minimum number of 750 transactions during the last year.
The change will take effect as of December 3, the BSE said.
Currently, BSE has five share indices: the benchmark SOFIX, which includes the 20 most liquid shares trading on the bourse's floor; the broader BG40, which tracks the 40 most traded shares; the BG-REIT, tracking the performance of real estate investment trusts; the BG TotalReturn30, in which companies with a free float of at least 10% have equal weight; and the CGIX Corporate Governance index, which includes companies strictly applying corporate governance principles.