CSE Indices

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The CSE Composite Index is a broad indicator of market activity for the Canadian Securities Exchange (CSE). With approximately 75% coverage of all equities listed on the CSE it is a uniquely positioned gauge of the Canadian small cap market. The index provides a distinctly different risk/return profile than the broad Canadian equity market.

The CSE25 Index is a subset of the CSE Composite Index. It contains the securities of the twenty five largest index companies by market capitalization. This sub-index contains over 52.75% of the total weight of the Composite Index.

 

Index Methodology

 

The CSE Composite Index follows a set of rules which are published on the CSE website. The index is administered by Solactive AG as the calculation agent. Solactive calculates indices for 350 clients in Europe, America and Asia. The index policies and procedures are maintained by an Index Committee. The committee, in its sole discretion determines how policies and procedures are interpreted and over time may update the policies and procedures of the index if deemed necessary. 

For a detailed description of the methodology, click here: CSE Composite Index Methodology

The CSE25 Index follows the same methodology because it is a sub-index of the CSE Composite Index.

 

Index Maintenance

 

The index will be rebalanced quarterly on the third Friday in each of March, June, September and December.  The index will be reconstituted based on eligibility criteria and deletion criteria, and the number of shares adjusted for index constituents on the rebalance date. Constituents removed from the index between rebalance dates due to an extended halt, suspension or delisting will not be replaced until the next rebalance date..

 

Criteria for Index Additions

 

Listing - Companies must be listed on the CSE and trade in Canadian dollars.
Size - Only securities with a minimum market capitalization of $5 million are eligible for inclusion.
Seasoning Requirement - A security is not eligible for inclusion for the first rebalance of the index after its listing. However, a security is exempt from this minimum listing period if either of the following apply:

  • The security was listed on a recognized exchange in Canada immediately prior to its listing on the CSE; or
  • At the rebalance, when ranked by total market capitalization, the security falls within the top quartile of eligible securities listed on the CSE.

 

Criteria for Index Deletions

 

Buffer rule - At each quarterly rebalance, current constituents are assessed to ensure they have a minimum market capitalization of $4 million. 

Companies involved in corporate actions which result in them no longer qualifying for the index are removed once the transaction is closed.

NTD: this document hasn’t been updated since launch in 2015. It doesn’t add enough additional information to be worth retaining.

Ticker

The CSE Composite Index  is published by Reuters and Bloomberg under the ticker name CSECOMP and the CSE25 has the ticker name CSE25.

 

 

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