The new cap of 15 percent will apply to the DAX, MDAX, SDAX and TecDAX from 2024. It will be introduced in March 2024 with the index review.
23 November 2023. FRANKFURT (Deutsche Börse). STOXX Ltd. will raise the cap for the DAX index family from 10 to 15 percent. This was preceded by a broad market consultation, which lasted from October 11 to November 8, 2023 and was aimed at all market participants. The responses reflected a wide range of considerations from different market participants. A majority were in favor of raising the cap to 15 percent.
With this cap, STOXX is aligning the DAX family with international standards.
The cap defines the maximum weight of an individual company in the index. If the weight rises above this value, the weight is adjusted accordingly every three months for the index review.
The 10% cap has led to a total of 38 caps for four companies in the DAX over the last ten years. In the same period, however, no company has reached the 15 percent cap.
The 15% cap will apply for the first time with the index review in March, which will take effect from March 18, 2024. The DAX rules will then be adjusted accordingly.