Headline

There are seven indices making up the headline series:  the All Share Index (J203), the Top 40 Index (J200), the Large & Mid Cap Index (J206), the Large Cap Index (J205), the Mid Cap Index (J201), the Small Cap Index (J202) and the Fledgling Index (J204).  These indices comprise eligible instruments, listed on the JSE Main Board, and are categorised according to company size (market capitalisation).

Index Details

The All Share Index represents 99% of the full market cap value of all eligible securities listed on the Main Board of the JSE.
Name  All Share
Index Code           J203
Alpha Code ALSH
Index Category Headline
Universe Ordinary shares listed on the JSE Main Board
Fixed No. of Companies No
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. IFL’s with a free float of 5% or less will be eligible if net market cap is greater than 1% of Mid Cap on cut date. IFL constituents with a free float of 5% or less that are existing constituents will be deleted if their net market cap falls below 0.5% of the Mid Cap
Additional requirements Instruments will be eligible provided the net market cap is 0.5% or greater than the net market capitalisation of the Small Cap on review cut date and it qualifies in all other respects. Current constituent will be deleted from the index should the net market cap fall to 0.2% or below relative to the Small Cap net market capitalisation on review cut date Secondary lines must pass the free float, liquidity and size hurdles in their own right
Ineligible securities Pyramid Status, SPAC Status, ICB code 8990, convertible preference shares and loan stocks are excluded until converted., Exchange Traded Funds (ETFs) and funds whose prices are a direct derivation of underlying holdings (e.g. Unit Trusts, Mutual Funds)
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by gross market cap
Capping Methodology N/A
Index Review Semi-annually in March and September
Buffer Size            Auto Addition: 98.5%; Auto Deletion: 99.5%
Dissemination 60 seconds
Live Date               2002/06/24
The Top 40 Index consists of the 40 most investable companies in the All Share Index (J203). The number of instruments in the index can exceed 40, as some companies issue multiple equity instruments.
Name  Top 40
Index Code           J200
Alpha Code TOPI
Index Category Headline
Universe All Share Index (J203)
Fixed No. of Companies 40
Liquidity Screening             Yes
Free Float Screening Minimum of 5%
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by net market cap
Capping Methodology N/A
Index Review Quarterly in March, June, September and December
Buffer Size            5
Dissemination Real Time
Live Date               2002/06/24
The Large Cap Index represents 85% of the full market cap value of all eligible securities listed on the Main Board of the JSE.
Name  Large Cap
Index Code           J205
Alpha Code LARG
Index Category Headline
Universe All Share Index (J203)
Fixed No. of Companies No
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by gross market cap
Capping Methodology N/A
Index Review Semi-annually in March and September
Buffer Size            Auto Addition: 83%; Auto Deletion: 87%
Dissemination 15 seconds
Live Date               2016/09/19
The Large & Mid Cap Index represents 85% - 96% of the full market cap value of all eligible securities listed on the Main Board of the JSE.
Name  Large & Mid Cap
Index Code           J206
Alpha Code LARM
Index Category Headline
Universe All Share Index (J203)
Fixed No. of Companies No
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by gross market cap
Capping Methodology N/A
Index Review Semi-annually in March and September
Buffer Size            Auto Addition: 95%; Auto Deletion: 97%
Dissemination 15 seconds
Live Date               2016/09/19
The Mid Cap Index represents 85% - 96% of the full market cap value of all eligible securities listed on the Main Board of the JSE
Name  Mid Cap
Index Code           J201
Alpha Code MIDC
Index Category Headline
Universe All Share Index (J203)
Fixed No. of Companies No
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by gross market cap
Capping Methodology N/A
Index Review Semi-annually in March and September
Buffer Size            Aut0 Addition: 95%; Auto Deletion: 97%
Dissemination 60 seconds
Live Date               2002/06/24
The Small Cap Index represents 96% - 99% of the full market cap value of all eligible ordinary securities listed on the Main Board of the JSE
Name  Small Cap
Index Code           J202
Alpha Code SMLC
Index Category Headline
Universe All Share Index (J203)
Fixed No. of Companies No
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by gross market cap
Capping Methodology N/A
Index Review Semi-annually in March and September
Buffer Size            Aut0 Addition: 98,5%; Auto Deletion: 99.5%
Dissemination 60 seconds
Live Date               2002/06/24
The Fledgling Index represents the lowest 1% of the full market cap value of all eligible ordinary securities listed on the Main Board of the JSE
Name  Fledgling
Index Code           J204
Alpha Code FLED
Index Category Headline
Universe Ordinary shares listed on the JSE Main Board
Fixed No. of Companies No
Liquidity Screening             No
Free Float Screening Minimum of 5%. 
Ineligible securities Pyramid Status, SPAC Status, ICB code 8990
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by gross market cap
Capping Methodology N/A
Index Review Semi-annually in March and September
Buffer Size            N/A
Dissemination 60 seconds
Live Date               2002/06/24