flatexDEGIRO: to join Germany's SDAX index
(CercleFinance.com) - flatexDEGIRO, Europe's biggest retail online broker, will join the SDAX index before Christmas, the index operator of Deutsche Boerse announced yesterday.
Index provider Qontigo said that flatexDEGIRO will replace auto supplier Leoni on 21 December based on the so-called "fast exit" rule, which occurs when a company no longer possesses the market cap or liquidity needed to remain in an index.
flatexDEGIRO shares were up 0.7% in late morning trading on Friday, giving the company a market capitalisation of over 1.5 billion euros - this has more than doubled this year.
Inclusion in a DAX index, even a small-cap index like the SDAX is typically good news for listed companies, as index-tracking funds that follow the DAX family of indices will need to buy the shares.
flatexDEGIRO recently launched a new mobile application in Germany, based on simplified, intuitive processes and clear language, in a move to become a mass- market broker with a significantly larger target market.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Index provider Qontigo said that flatexDEGIRO will replace auto supplier Leoni on 21 December based on the so-called "fast exit" rule, which occurs when a company no longer possesses the market cap or liquidity needed to remain in an index.
flatexDEGIRO shares were up 0.7% in late morning trading on Friday, giving the company a market capitalisation of over 1.5 billion euros - this has more than doubled this year.
Inclusion in a DAX index, even a small-cap index like the SDAX is typically good news for listed companies, as index-tracking funds that follow the DAX family of indices will need to buy the shares.
flatexDEGIRO recently launched a new mobile application in Germany, based on simplified, intuitive processes and clear language, in a move to become a mass- market broker with a significantly larger target market.
Copyright (c) 2020 CercleFinance.com. All rights reserved.