MEXICO CITY AND BUENOS AIRES, AUGUST 22, 2022: S&P Dow Jones Indices ("S&P DJI"), the world's leading index provider, and Bolsas y Mercados Argentinos (BYMA), Argentina’s leading exchange, today announced the launch of the S&P/BYMA Ingenius Index and the S&P/BYMA CEDEAR Index. Each new equity index consists of BYMA-listed Argentinian Depositary Receipts (CEDEAR) and both join the existing S&P/BYMA Index family.
These are the first indices of their kind in Argentina and will serve as crucial benchmarking tools for both retail and institutional market participants.
- The S&P/BYMA CEDEAR Index consists of all BYMA-listed CEDEAR meeting minimum liquidity criteria. The S&P/BYMA CEDEAR Index measures the performance of liquid CEDEAR, representing 90 percent of the local liquidity. Index constituents are six-month Median Daily Value Traded (MDVT) weighted, subject to a 15 percent single constituent weight cap.
- The S&P/BYMA Ingenius Index consists of some of the world’s best-known technology driven companies trading as CEDEAR on BYMA. The also Index measures the performance of foreign companies trading as CEDEAR on the New York Stock Exchange (NYSE) or Nasdaq. These companies focus on technology and innovation as defined by their classification within the Global Industry Classification Standard (GICS) sub-industries. As growth companies they must have an S&P Growth Score of 0.6 or higher to be eligible. Index constituents are weighted by their S&P Momentum Score, subject to a 20 percent single constituent weight cap. It joins the family of Ingenius Indices from other Latin American markets.
These new indices can be monitored through the BYMADATA platform.
Ernesto Allaria, President of BYMA, said: "We are proud of this new development that consolidates the alliance we have had with S&P DJI since 2018. We work to accompany and respond to the interest of Argentine investors in these instruments by introducing two indices that will enable their analysis and monitoring. This will enhance transparency and open up new possibilities for all participants." And he concluded: "Our focus is to promote the development of the Argentine Capital Market, offering new relevant and useful products."
Silvia Kitchener, Director of Equity Product Management, Latin America at S&P Dow Jones Indices, said: "We're particularly excited to offer CEDEAR indices, as CEDEAR are a segment of the Argentinian equities market that have seen large growth and adoption in the country over the past few years. This increasing interest, along with our longstanding collaboration with BYMA, opened an opportunity to enhance further growth of this segment by providing market indices and providing new solutions to market participants."
The new indices will join the existing family of S&P DJI indices in Argentina, which includes the S&P/BYMA General Index, the S&P MERVAL and 11 sector indices representing key segments of the local market.
For more information about the S&P/BMYA Indices, including the S&P/BYMA Ingenius Index and the S&P/BYMA CEDEAR Index, please visit www.spglobal.com/spdji.
