Standard & Poor's and the Toronto Stock Exchange began distributing their latest Canadian indexes in real-time on May 14. The S&P/TSE Canadian MidCap Index and the S&P/TSE Canadian SmallCap Index have 60 and 180 component stocks, respectively.
The two new indexes join the S&P/TSE 60, a large cap index that will eventually replace the Toronto Stock Exchange's TSE 35 blue-chip index. The S&P/TSE MidCap and SmallCap Indexes will in turn replace the TSE 200 and 100. Like the S&P/TSE 60, their components were selected from the TSE 300 Composite Index.
The companies in the new mid cap index have a median market value of $1.36 billion, while the companies in the new small cap index have a median market value of $344 billion.
William Jordan, director of communications for S&P, said that the new Canadian indexes would not be considered part of S&P's soon-to-be-completed S&P Global 1200, which is intended to be a large cap index. However, he did say that S&Phas plans to develop similar mid cap and small cap indexes for the rest of the regions and countries covered in the global index.
Futures and options on the S&P/TSE 60 were expected to begin trading on the Montreal Exchange on September 7.