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[sharechat] ASX Index Restructure

From: Derek <>
Date: Fri, 31 Mar 2000 23:53:23 +1200

On Monday, April 3, 2000, the All Ordinaries Index will change to
represent a greater number of stocks on the Australian Stock Exchange
(ASX). It will jump from 251 stocks to 500, providing a measurement of
the overall price performance of the market and represent about 99 per
cent of total domestic market capitalisation.

Standard & Poor’s has taken over ownership and management of the ASX
index business, launching three new indices, the S&P/ASX 100, the
S&P/ASX 200 and the S&P/ASX 300. Eligibility is based on market
capitalisation, with an adjustment made for liquidity. Yet to be
resolved is the index the Sydney Futures Exchange will use to underlie
the indices.

The changes are expected to offer fund managers, asset consultants and
trustees a wider choice of ASX Benchmark indices catering for a range of
investment styles.

For a period of 18 months, the old All Ordinaries Index will run in
tandem with the new All Ordinaries Index (stocks 500). From April 3,
2000, the current All Ordinaries Index code will change from XAO to XPI,
while the new All Ordinaries Index (stocks 500) will be coded XAO.

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