Free float is that portion of a companys overall share capital that is not locked up in firm hands (e.g. the founder or his/her family, the companys management, certain institutions, etc.). Free float represents those shares that can be traded on the exchange at any time. Small shareholdings of private investors are also counted as free float, even though those shares are in firm hands. For the listing of a company in the main segment of SIX Swiss Exchange AG, for example, a free float of at least 20% is required. Blue chips often have a much higher free float.