Forex glossary of terms
AMEX (American Stock Exchange) is on of the most well-known stocks in the world.
There are some AMEX indices (e.g, AMEX Composite Index (XAX), AMEX Major Market Index (XMI), AMEX Gold Miners Index.). We shell describe a little all of these.
AMEX Composite Index (XAX) is a Market Capitalization-weighted, price appreciation index with a base level of 550 as of December 29, 1995.
The American Stock Exchange introduced a new AMEX Composite Index with a new ticker symbol, XAX, on January 2, 1997. The XAX is a market capitalization-weighted, price appreciation index, and replaces the AMEX Market Value Index (XAM) which, since its inception, has been calculated on a "total return basis" to include the reinvestment of dividends paid by AMEX companies. The new AMEX Composite Index is more comparable with other major indexes, which reflect only the price appreciation of their respective components.
XAX reflects the aggregate market value of all of its components relative to their aggregate value on December 29, 1995. The index includes common stocks, or American Depositary Receipts of all AMEX-listed companies, REITs, master limited partnerships, and closed-end investment funds. Each component's market value is determined by multiplying its price by the number of shares outstanding. The day-to-day price change in each issue is weighted by its market value at the start of the day as a percent of the total market value for all components. The level of the index is not altered by stock splits, stock dividends, trading halts, new listings, additional issuances, delistings, or suspensions. (Source: www.amex.com).
AMEX Major Market Index (XMI): American Stock Exchange'S price-weighted average of 20 Blue Chip industrial stocks representative of major U.S. Corporations; several of the stocks are components of the Dow Jones Industrial Average (Djia). The index was established with a base value of 200.00 as of April 29, 1983. Futures on the XMI Index are traded on the Chicago Board of Trade. Options on the index are traded on Amex, and are traded under license on Euronext. (Source: www.amex.com).
The AMEX Gold Miners Index is a modified market capitalization weighted index comprised of publicly traded companies involved primarily in the mining for gold and silver. The Index includes common stocks or ADRs of selected companies that are involved in mining for gold and silver and that are listed for trading on the New York Stock Exchange, Amex or quoted on the NASDAQ National Market. Only companies with market capitalization greater than $100 million that have traded an average daily volume of at least 50,000 shares over the past six months are eligible for inclusion in the Index.
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