SMI - Swiss Market Index
As a blue chip index, the SMI® is Switzerland's most important stock index and comprises the 20 largest equities in the SPI.
The SMI represents about 85 % of the total capitalisation of the Swiss equity market. It is free-float-adjusted, which means that only the tradable portion of the shares is taken into account in the index. » show more The SMI is simultaneously equivalent to the SPI Large. It is published as a price index and, under the designation SMIC (SMI dividend-adjusted), as a performance index.
Because the SMI represents the Swiss equity market, it is used as an underlying index for many financial products such as options, futures, structured products and exchange traded funds.
On 30 June 1988, the SMI was standardised at 1'500 points. Its composition is reviewed once a year. Calculation takes place in real time, i.e. each new transaction involving a stock included in the SMI causes the index to be recalculated.