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Changes in indices that are calculated by MSE
Wednesday, September 4, 2013
Тhe MSE Board of Directors, on the session held on 29.07.2013, adopted a Decision on the adoption of a new methodology for calculating the Macedonian Stock Exchange Index – MBI10.

Considering the completion of mandatory listing procedure, the number of companies listed on the Official Market of the Stock Exchange was increased, and thus heterogeneity of listed shares in terms of the size of their market capitalization and the percentage of the capitalization that is spread to the public (free float).
Because of these, a new methodology for calculating the Macedonian stock exchange index MBI10 was adopted, with the following innovations:
• the introduction of "free float" market capitalization for calculating the index,
• reducing the criteria for selecting stocks for inclusion in the index, from 5 to 3 criteria (free float market capitalization, average daily turnover and number of trading days)
• and the stake of each share that is part of the index will not exceed 20%.

According to the new Methodology on 02.09.2013 the MSE Index Commission made a extraordinary revision on MBI10 Index.
According to the new Methodology for calculation of MBI10, the MSE Index Commission decided that the elements of MBI10 are the ordinary shares of the following companies: Komercijalna banka AD Skopje, Granit AD Skopje, Alkaloid AD Skopje, Makedonski Telekom AD Skopje, Stopanska banka AD Bitola, Makpetrol AD Skopje, Toplifikacija AD Skopje, TTK Banka AD Skopje, Makedonijatursit AD Skopje and Replek AD Skopje.
Date of implementation of changes in the MBI10 Index is 16.09.2013.
The next regular revision of MBI10 is on 15.12.2013.

A new methodology for calculating the Macedonian Stock Exchange Index – MBI10 can be downloaded via the following link:
http://www.mse.mk/en/content/13/3/2010/structure-of-index-mbi10

On the meeting held on 29.07.2013, the Board of Directors of the Macedonian Stock Exchange adopted a Decision for termination for calculating the Index of publicly held companies MBID starting from 16.09.2013.
With the procedure of mandatory listing, on the sub-segment- Market for companies with special reporting obligation currently left only 18 companies with extremely low liquidity, which indicates that there is no relevant need to monitor price movements of this market sub-segment by calculating a separate index.