BRVM - BRVM Indexes

BRVM Indexes

Two BRVM market indexes represent the activities of stock market shares.

The BRVM Composite comprises all securities listed on the exchange.

The BRVM 10 comprises ten of the most active companies on the exchange.

Formulation and selection criteria for the BRVM Composite and BRVM 10 are based on the leading global market indexes, especially the FCG index of the International Finance Corporation; a World Bank affiliate. The formula for the indexes takes into account market capitalization, transaction volume per session and transaction frequency. Only common shares are used to calculate the indexes.

The concept of liquidity also plays a key role in selecting securities for the BRVM 10. For each one, the average daily transaction volume in the three months preceding the quarterly review must not be less than the median daily transaction volume for all securities. Transaction frequency must always be higher than 50%, and the security must be traded at least one out of two times during the three-month study period.

The indexes are automatically generated by the BRVM trading system and circulated after every trading session. The BRVM 10 is also reviewed four times a year (first Monday of January, April, July and October ), and the BRVM Composite after every new listing so it can keep pace with the growth of the Regional Financial Exchange.

MARKET INTEGRITY AND INVESTOR PROTECTION

See presentation on DC/BR

MARKET INFORMATION