Trading on the SMI index

Trading on the SMI index

SMI stands for “Swiss Market Index”. This index includes 20 of the largest and most liquid joint-stock companies in Switzerland and Liechtenstein. The SMI index represents approximately 90% of the total market capitalization and trading volume of the Swiss stock market.

History of SMI index

The SMI began to be calculated from June 30, 1988, its initial value was set at 1500 points. The composition of the SMI index is reviewed annually. The total market capitalization of the index as of December 29, 2017 was 1.145 billion Swiss francs. Click here for more information on swiss market smi . 

The SMI index is also known under the unofficial name Swiss 20. The absolute maximums of the index reached 21.07.1998 (8489 points), 04.06.2007 (9548.09) and 24.01.2018 (9616.38). The records were observed on 05.10.1998 (5108.30), 12.03.2003 (3618.00), 9.03.2009 (4234.96) and 11.02.2016 (7425.05). You can now invest the SMI and take advantage of trading opportunities on the world's best trading platform

Composition and calculation of SMI

Like the DAX 30, SMI is weighted by market index capitalization. The companies that make up the SMI are selected based on the minimum capitalization and turnover threshold, which is calculated each year in September. 

When calculating SMI, the largest companies included in the SPI index, which includes all Swiss joint-stock companies, as well as all companies whose shares are listed on the SIX Swiss stock exchange, are taken into account. 

SIX was one of the first exchanges that completely switched to e-commerce - this happened in 1996. Together with the German company Deutsche Börse, the SIX exchange became the source of Eurex, the third largest commodity exchange. derivatives to the world. 

The SMI index is part of the SMI family, which also includes SMIM® and SMI Expanded®. Before the reform of 2007, SMI consisted of 25 companies, now there are 20. 

The value of the index is calculated by dividing the market capitalization of each component by a set of divisors arbitrarily. In September 2017, the index calculation formula was changed in accordance with the recommendations of ESMA (European Organization for Securities and Markets), according to which no component of the index may weigh more than 18% of the total value. of the index. 

The main advantages of SMI trading are: High liquidity, Total security, Relatively predictable dynamics in the absence of crisis situations, Open access to data on the main factors affecting the value of the index, A lot of news on the SMI index and the Swiss economy.

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