The
RTS Index or the RTSI is an index composed of 50 Russian stocks. These stocks are traded on the Russian Trading System Stock Exchange of Moscow. The RTS Information Committee reviews the stocks listed on this index every three months. The value of the index is calculated by using a real time method. The RTS also publishes the RTS-2 Index and five other sectoral indices. Sixty nine stocks of the second tier are listed on the RTS-2 index. This stock exchange actually calculates four stock market indexes.
The index is calculated by dividing the aggregate market capitalization of component stocks by the total market capitalization of these stocks on the introductory date. The resultant is multiplied with the index's initial value. The free float factor, number of outstanding shares and the present stock prices are used to calculate the market capitalization.
The list of stocks that are used to calculate the index are different for the RTS-2 Index and the RTS Index. The major companies listed on the RTS Index are as follows:
- Bashneft
- Aeroflot
- Severstal
- Sibir Telekom
- Unified Energy System
- Center Telecom
- MMC Norilsk Nickel
- IRKUT Corporation
- Volga Telecom
- Nikom
The RTS Index was incepted in September, 1995. This index acts as the indicator for the Russian Stock Market. Another index, the RTS Select Index was incorporated in 2006 as a result of a joint venture of the Russian Trading System and the Standard and Poor's Index. The fifteen most liquid and largest stocks that are listed on the RTS are included in this index. Market capitalization and level of liquidity are the major yardsticks for eligibility of the stocks in the RTS indices. Also, stocks that belong to a Russian domicile are included in the RTX index.
Changes that are made to the constituents of this index are effected on the 15th days of December, September, June and March. The Information Committee has the power to delete a stock from the index.