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| For Immediate
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00/10 |
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| CONTACT:
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February 15, 2000 |
| Pam
Whitworth |
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| Communications
Director |
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| Canadian Venture
Exchange |
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| Tel: (604) 488-3126 |
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CDNX
Introduces Small Cap Benchmark
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TORONTO – Bill Hess,
President and CEO of the Canadian Venture Exchange (CDNX), today introduced IndexCDNX, a
family of small cap indicators designed to track the venture market in Canada.
Complementing the Exchange’s main venture capital index, three sector indices for
technology, mining, and oil & gas were unveiled this afternoon.
Initially set at 2000, the CDNX index has risen more than 65% since
its November 29, 1999, launch, and nearly 45% this year. The sector indices – also
set at 2000 in November – have escalated as well, with technology rising 107%, mining
up 55% and oil & gas at a 18% increase in 2000.
"IndexCDNX is designed to serve as Canada’s true small cap
benchmark," explains Bill Hess. "It is a unique tool for tracking venture
capital investments."
A reflection of the small cap sector of companies, IndexCDNX is
similar to indices such as the S&P/TSE Canadian Smallcap, the U.S.-based Russell 2000
and the FTSE Allsmall. As a benchmark for the venture market, it cannot be accurately
compared to the S&P/TSE 300, the Nasdaq Composite or the Dow.
The CDNX index and sub indices are comprised of the
top 80% of companies by market capitalization. The technology sector index encompasses 31
companies that make up the top 80% of the technology sector. The CDNX technology sector,
as a whole, includes 280 listings. More than 925 listings are included in the mining
sector, while the top 80% comprising the mining sector index includes 170 companies. The top 80% of oil & gas
companies in that sector’s index includes 30 companies out of a total of just over
335 listings.
As of Monday, February 14, the CDNX index was up 44% for the year,
closing at 3368.38. The technology sector index closed at 5857.89, the mining index at
3372.56 and oil & gas at 2197.51.
IndexCDNX is rebalanced each quarter to account for changing market
capitalization among listed companies. The first rebalance is scheduled for March 31,
2000. Index data can be viewed in graph form from the CDNX homepage and website visitors
can download index data directly from the market information section of the site.
For more information on the Exchange and the IndexCDNX, please visit
the CDNX website at www.cdnx.com.
The Canadian Venture Exchange was created to provide a
strong, well-regulated market for emerging businesses. CDNX represents one of
Canada’s three specialized exchanges, complementing the Toronto Stock Exchange –
home to the senior equities market, and the Montreal Exchange – the market for
derivative products.
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