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S&P/Citigroup Broad Market Index (BMI) Global

Reviewed by Sujaini | Updated on Oct 05, 2020

Catalogue

What is an S&P/Citigroup Broad Market Index (BMI) Global?

S&P/Citigroup Broad Market Index (BMI) Global is a market capitalisation-weighted index maintained by Standard and Poor's (S&P) that provides a broad measure of the global equity markets.

The BMI Global S&P/Citigroup include roughly 11,000 companies in more than 52 countries, covering both developed and emerging markets. It is composed of the BMI produced by S&P and the BMI emerging by S&P.

The S&P/Citigroup BMI Global should not be confused either with the weight calculation of the Body Mass Index (BMI) or with the music licensing agency, Broadcast Music, Inc. (BMI).

Understanding the S&P/Citigroup Broad Market Index (BMI) Global

S&P/Citigroup Broad Market Index (BMI) Major, managed by Standard and Poor's (S&P), is a primary stock index. The index contains "all publicly listed shares with float-adjusted market values of USD 100 million or more," which also fulfils a set of minimum median daily trading rules, currently having a value of at least USD 50 million traded over the past 12 months.

Eligibility Criteria

Along with the eligibility criteria for the financial country, the S&P Dow Jones Indices also determine which countries are eligible or unable to be included in the fund.

The company's market capitalisation eligibility requirement of USD 100 million or more and liquidity of a 12-month median value traded ratio (MVTR) along with a 6-month MVTR also apply to IPOs that can be added each quarter. The MVTR is specific for companies from developing and developed countries.

IPOs may be added after three months of trading data, and trading value shall be annualised to determine whether the volume makes them eligible for inclusion in the fund.

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