Cboe Europe Indices offers indices across 18 markets, including single country and regional indices, that provide a cost-effective solution for market participants looking for real-time, high quality index data.
All Cboe Europe indices have the same rules, methodology, and pricing and corporate action data – making them ideal for precise comparison, trading and trend analysis
One simple licence covers all Europe, offering extended rights to affiliates and clients at greatly reduced costs.Cboe Europe indices are:
- Comparable across markets, geographies, sectors and between large and small caps
- High correlation to incumbent benchmarks providing replacement opportunities
- Calculated and disseminated in Real-time
- EU Benchmark Regulated
- Based on fully transparent rules, fees and contracts
- A solution to meeting forthcoming FRTB and Article 28 requirements
- Provide a flexible licence structure which includes fee waivers for benchmarking vendors and media clients
View full list of the Cboe Europe indices
Brexit Barometer Indices
The Brexit 50/50 are two indices designed to reflect the impact of Brexit on UK companies.
These two indices are designed to act as barometers for assessing how Brexit is impacting UK companies, by analysing the difference in performance between those with the largest and smallest proportion of GBP revenue. Learn More
Visit our document library for full information on rules and methodology, licenses, price list and specifications.
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Real-Time Equity Indices
Highly correlated with better design
The Cboe Europe Equity indices are highly correlated with comparable indices that investors use every day. The Equity indices provide accurate and reliable index data. Key design components are detailed below.
Unlike some other index providers, we publish the rules and calculation methodology behind our indices.
Remarkable European Coverage
Our European index business was launched in June 2016 and now offers 59 indices (calculated in both price and net total return) across 18 countries, pan-European and Eurozone regions, Brexit and sector indices.
Accessing the Indices
Our greatly simplified index licensing and reduced costs have significantly increased the distribution of our real-time index data, via broker and media websites.
Our pan-European approach allows for comparable indices across Europe for the first time. Unlike current indices, all the Equity Indices will be created with the same methodology.
High-Quality, Pan-European Data
The European indices are calculated using data from Cboe Europe the European arm of Cboe Global Markets, a leading financial markets operator. More than a quarter of all European trading occurs on Cboe's European equities exchange across the markets it covers. All of the European indices are valued using the trading taking place on, with the exception of the Cboe UK Alternative 100 which uses NEX Exchange data.
The quality of the stock prices used to calculate the indices are better than or equal to the national market in the most active stocks most of the time.*
*Data from LiquidMetrix
What is an Index?
An index is a group of stocks designed to reflect the performance of a market, or a portion of a market (e.g. an industry sector).
When first established, an index can start at any value. Investors track the change in the value to see market movements rather than the value itself.
An index is generally comprised of a portion of the overall universe of stocks in a geography, business sector or other grouping. Commonly referred to as “benchmarks” the index reflects a market's performance.
Indices are typically named to reflect the:
- Index creator/owner
- Specialisation (geography, business sector, grouping)
- Number of stocks in the index, e.g. Cboe UK 100 index
Mathematics and methodology behind an index
The methodology for calculating an index varies and is proprietary to each index creator/owner. A number of rules are required to ensure the index value is only affected by the change in the value of the individual stocks.
For instance, the performance of larger companies has a greater impact on the value of a market capitalisation weighted index than smaller companies.
An index is reviewed on a regular basis to ensure it remains representative of the relevant market. Upon review, known as a rebalance, constituents can be removed and replaced by companies that better reflect the overall market.
The frequency of rebalances varies by index, whilst all indices are rebalanced on a quarterly basis.
A company is considered eligible to be an index constituent if it meets the criteria stipulated in the index's rules.
Such criteria can require the company to have a minimum market capitalisation, to have listed a minimum percentage of its shares (its free float), and to possess a minimum level of trading liquidity.