(Zug, 6 March 2024) – STOXX Ltd. has announced the new composition of the DAX index family.
DAX, MDAX, SDAX and TecDAX represent the largest companies (by free float market capitalization) listed on the Regulated Market of Frankfurt Stock Exchange, which meet the basic criteria for index inclusion as defined in the DAX rulebook. The indices are reviewed on a quarterly basis. The scheduled March review includes the Regular Exit, Regular Entry, Fast Exit and Fast Entry rules.
The following changes will be made:
Media Contact
Sarah Ball
Executive Director, Communications
press@iss-stoxx.com
MDAX:
| Addition | Deletion |
| MorphoSys AG | Rational AG |
| Bilfinger SE | Vitesco Technologies Group AG |
SDAX:
| Addition | Deletion |
| Vitesco Technologies Group AG | Bilfinger SE |
| MLP SE | MorphoSys AG |
TecDAX:
| Addition | Deletion |
| Eckert & Ziegler Strahlen- und Medizintechnik AG | Verbio SE |
| SÜSS MicroTec SE | ADTRAN HOLDINGS INC. |
Rational AG will leave the MDAX and is no longer eligible for any selection index because it does not meet one of the basic criteria, according to section 5.4.2 in the rulebook. As defined there, the company does not comply with one recommendation of the German Corporate Governance Codex (C.10) which pertains to the chair of the audit committee.
All additions and deletions will become effective on 18 March 2024.
Furthermore, some changes to the methodology of DAX equity indices will become effective on 18 March, which were announced in March 2023, these relate to changes in the treatment of corporate actions and the index formula; and to an adjustment of the capping in the DAX index family from 10 to 15 per cent, announced in November 2023.
The next scheduled index review of the DAX index family is 5 June 2024.
DAX®, MDAX®, SDAX® and TecDAX® are registered trademarks of ISS STOXX Index GmbH.
About STOXX
STOXX® and DAX® indices comprise a global and comprehensive family of more than 17,000 strictly rules-based and transparent indices. Best known for the leading European equity indices EURO STOXX 50®, STOXX® Europe 600 and DAX®, the portfolio of index solutions consists of total market, benchmark, blue-chip, sustainability, thematic and factor-based indices covering a complete set of world, regional and country markets. STOXX and DAX indices are licensed to more than 550 companies around the world for benchmarking purposes and as underlyings for ETFs, futures and options, structured products, and passively managed investment funds. STOXX Ltd., part of the ISS STOXX group of companies, is the administrator of the STOXX and DAX indices under the European Benchmark Regulation.
About ISS STOXX
ISS STOXX GmbH, through its group companies, is a leading provider of comprehensive and data-centric research and technology solutions that help capital market participants identify investment opportunities, detect qualitative and quantitative portfolio company risks, and meet evolving regulatory requirements. With roots dating back to 1985, we today deliver world-class benchmark and custom indices across asset classes and geographies and serve as a premier source of independent corporate governance, sustainability, cyber risk, and fund intelligence research, data, and related offerings. Our products and services give clients the scale and leverage they need to grow their business more effectively and efficiently. ISS STOXX, which is majority owned by Deutsche Börse Group, is comprised of more than 3,400 professionals operating across 33 global locations in 19 countries. Its approximately 6,400 clients include many of the world’s leading institutional investors who turn to ISS STOXX for its objective and varied offerings, as well as companies focused on ESG, cyber, and governance risk mitigation as a shareholder value enhancing measure. Clients rely on ISS STOXX’s expertise to help them make informed decisions to benefit their stakeholders.
Legal disclaimer:
STOXX Ltd., ISS STOXX GmbH, ISS STOXX Index GmbH, Deutsche Börse Group and their licensors, research partners or data providers do not make any warranties or representations, express or implied, with respect to the timeliness, sequence, accuracy, completeness, currentness, merchantability, quality or fitness for any particular purpose of its index data and exclude any liability in connection therewith. STOXX Ltd., ISS STOXX GmbH, ISS STOXX Index GmbH, Deutsche Börse Group and their licensors, research partners or data providers are not providing investment advice through the publication of indices or in connection therewith. None of their products or services recommends, endorses, approves or otherwise expresses any opinion regarding any issuer, securities, financial products or trading strategies. In particular, the inclusion of a company in an index, its weighting, or the exclusion of a company from an index, does not in any way reflect an opinion of STOXX Ltd., ISS STOXX GmbH, ISS STOXX Index GmbH, Deutsche Börse Group or their licensors, research partners or data providers on the merits of that company and may not be relied on as such. Financial instruments based on the STOXX® indices, DAX® indices or on any other indices supported by STOXX are in no way sponsored, endorsed, sold or promoted by STOXX Ltd., ISS STOXX GmbH, ISS STOXX Index GmbH, Deutsche Börse Group or their licensors, research partners or data providers.