S&P Composite 1500 Index Consultation on Market Capitalization and Liquidity Eligibility Criteria

Open for comment until Nov 30, 2022

This consultation is no longer open. The survey below is provided for reference purposes only. You will not be able to interact with it.

  • Step 1About You
  • Step 2Survey
  • Step 3Submit
    • First Name*
    • Last Name*
    • Company*
    • Email*

    S&P DJI makes responses to consultations freely available upon request with redacted individual and company names unless requested to be confidential. Do you wish for your response to remain confidential?*

      • Do you agree with the proposal that S&P DJI should consider cumulative market capitalization coverage in determining the market capitalization dollar ranges such that the S&P 500 market capitalization guideline captures approximately 85% of the three-month average cumulative market capitalization of the TMI universe, the S&P MidCap 400 index captures the 85-93rd percentile of the average three-month cumulative mkt cap of the TMI universe, and the SmallCap 600 captures the 93rd-99 percentile the three-month average cumulative market capitalization of the TMI universe?
      • Over the past 5 years (2017-2021), the average annual turnover for the S&P 500, MidCap 400, and SmallCap 600 were approximately 3.96%, 20.36% and 20.50% respectively (see table in Appendix C for additional annual turnover data). How much additional annual turnover would be acceptable to ensure that the S&P Composite 1500 indices continue to reflect the updated market capitalization guidelines more closely?
      • Do you agree with the proposal to loosen the FALR criteria (see FALR definition in Appendix A) from 1.00 to 0.75 which will increase the available number of eligible candidates?
      • Are there other liquidity measures that should supplement or even replace FALR as an eligibility criteria?
      • Do you have any other comments or feedback on the proposed changes outlined above?
  • Please be advised that all comments from this consultation will be reviewed and considered before a final decision is made; however, S&P DJI makes no guarantee nor is under any obligation to comply with any of the responses. The survey may result in no changes or outcome of any kind. If S&P DJI decides to change the index methodology, an announcement will be posted on our website.

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