For global depositary receipt (GDR) investors, BNY Mellon GDR Index is an ideal benchmarking tool as it is the only index that tracks all GDRs traded on The London Stock Exchange. BNY Mellon GDR Index is calculated on a continuous basis throughout the trading day - beginning with the open of the U.K. market through its close. The index is capitalization-weighted and adjusted for free-float using Dow Jones' methodology. In addition to the Bank's Composite GDR Index, there are six regional indices (Eastern Europe, MENA, Eastern Europe x- Russia, Asia, Middle East and Africa), one market index (Emerging) and 23 country indices.
For more information on BNY Mellon GDR indices, please contact Cheryl Workman at 212 815 2732, Huong (Holly) Lai at 212 815 3967 or Robert Verhelle at 212 815 2161.
U.K. & U.S. Stock Exchange-traded Depositary Receipts
BNY Mellon GDR Index contains U.K. stock exchange traded Depositary Receipts, including many premier international companies. Such DRs are subject to the regulatory and stock exchange requirements applicable to the companies listed and traded in such markets.
Market Capitalization Weighted
BNY Mellon GDR Index is capitalization-weighted, using an index formula based upon the aggregate of price times share quantities. The number of shares used in the Index calculation generally represents the entire class(es) or series of shares that trade in the local market and also trade in the form of Depositary Receipts in the United Kingdom. Dow Jones & Company, Inc.'s then-current free-float adjusted market capitalization methodology is employed. These are adjusted by the GDR conversion ratio and the result is multiplied by the official close as reported on the London Stock Exchange.
Index Adjustments and Rebalancing
To ensure the accuracy and integrity of BNY Mellon GDR Index, issued share capital adjustments greater than ten percent are made prior to the opening of trading on the effective date. Constituent additions are made on a quarterly basis. Deletions to the Index are made upon the effective delisting date or sooner. Share capital changes of less than or equal to ten percent are made on a quarterly basis after the third Friday of the months of March, June, September and December. On a quarterly basis, ordinarily after the third Friday of the months of March, June, September and December, the free-float shares of all the companies in the Index will be updated by the Calculation Agent.