Changes to the Solactive Disruption Policy | Effective Date 1 March 2020
During the regular review of the Solactive Disruption Policy a need for adjustment was identified, which is reflected in the following changes to the Solactive Disruption Policy.
- harmonization of the handling of trading halts and unplanned market closures;
- the monitoring of index components affected by trading halt or an unplanned market closure (as defined in the Solactive Disruption Policy) will be extended to 60 trading days, with review intervals of 20 trading days;
- at the latest after 60 trading days affected index components will be removed from the index at a value of zero by means of an extraordinary index adjustment, provided that the trading halt or unplanned market closure continue to exist at that time;
- detailed new rules for the occurrence of a trading halt or unplanned market closure on a selection day (see section 4.3. in the draft of the Solactive Disruption Policy);
- detailed new rules for the occurrence of a trading halt on a rebalance day (see section 4.4. in the draft of the Solactive Disruption Policy);
- clarification for the occurrence of an unplanned market closure on a rebalance day (see section 4.5. in the draft of the Solactive Disruption Policy);
- introduction of rules for the occurrence of a trading halt or unplanned market closure during a rebalance period, i.e. if the index is rebalanced over multiple trading days;
- editorial amendments which do not affect the content of the Solactive Disruption Policy.
The amended Solactive Disruption Policy (version 1.1) will be applied to all existing and future indices administered or calculated by Solactive AG with effect from 1 March 2020.
The Solactive Disruption Policy (version 1.1) applicable from the effective date can be inspected here.