BEL20

The BEL20 is the benchmark stock market index of Euronext Brussels. In general, the index consists of a minimum of 10 and a maximum of 20 companies traded at the Brussels Stock Exchange. Since Nyrstar was promoted to the index on 4 March 2008, the BEL20 has contained a full 20 listings.

Rules

The composition of the BEL20 index is reviewed annually based on closing prices at the end of the calendar year. These changes are effected on the first trading day of every March. In addition to meeting a set of criteria demanding a company be "representative of the Belgian equity market", at least 15% of its shares must be considered free float in order to qualify for the index. In addition, a candidate for inclusion must possess a free float market capitalisation (in Euros) of at least 300000 times the price of the index on the last trading day of December. The minimum requirement for an existing constituent to remain in the index is a market cap of 200000 times the index value. At each annual review, the weights of companies in the index are capped at 15%, but range freely with share price subsequently. The BEL20 is a market value-weighted index.