SMI meaning in Business ?

Answer:

What is Swiss Market Index mean?

The Swiss Market Index (SMI) is Switzerland's blue-chip stock market index, which makes it the most followed in the country. It is made up of 20 of the largest and most liquid Swiss Performance Index (SPI) stocks. As a price index, the SMI is not adjusted for dividends.

The SMI was introduced on June 30, 1988 at a baseline value of 1,500 points. It closed above the symbolic level of 10,000 points for the first time on July 2, 2019. It is currently in a bull market, which it entered on May 25, 2021 after breaking its previous record. This ended the bear market that had started on March 12, 2020. It reached the 12,000 point milestone on June 17, 2021.

Its composition is examined once a year. Currently, it contains 19 large-caps and one mid-cap. Calculation takes place in real-time. As soon as a new transaction occurs in a security contained in the SMI, an updated index level is calculated and displayed. However, the index is updated no more than once per second. The SMI is calculated in Swiss Francs, the currency of the Swiss Confederation.

The securities contained in the SMI currently represent approximately 70% of the free-float Swiss equity market capitalization, as well as 85% to 90% of the total trading turnover of Swiss and Liechtenstein equities listed on the SIX Swiss Exchange. Because the SMI is considered to be a mirror of the overall Swiss stock market, it is used as the benchmark for numerous mutual funds, index funds and ETFs, and as the underlying index for numerous derivative financial instruments such as options, futures and structured products.

In 2020, the SMI, along with other SIX indices, was endorsed under the EU Benchmarks Regulation and is registered with the European Securities and Markets Authority, which means that it can be used as an underlying for financial products sold in the EU.

reference

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