{"id":20356,"date":"2012-11-21T19:09:52","date_gmt":"2012-11-21T23:09:52","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=20356"},"modified":"2012-11-21T19:09:52","modified_gmt":"2012-11-21T23:09:52","slug":"txpl-changes-made-to-methodology","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=20356","title":{"rendered":"TXPL: Changes Made to Methodology"},"content":{"rendered":"<p>The clowns at S&#038;P have made some changes to their index methodology without issuing a press release; not only that, but the <a href=\"http:\/\/www.prefblog.com\/?p=20325\">rush-job typographical errors on the TXPL methodology<\/a> now appear to have been fixed, but the TXPL documentation is now linked on the <a href=\"http:\/\/ca.spindices.com\/indices\/fixed-income\/sp-tsx-preferred-share-index\">web page for TXPR<\/a> as well as the <a href=\"http:\/\/ca.spindices.com\/indices\/fixed-income\/sp-tsx-preferred-share-laddered-index\">web page for TXPL<\/a>.<\/p>\n<p>However, some changes have substance.<\/p>\n<p>The changes are (bolding added by JH):<\/p>\n<blockquote><p>Market Capitalization. Preferred shares with total market capitalization of less than <b>C$ 75 million<\/b> as of the rebalancing reference date are excluded from the index, based on the volume weighted average price (VWAP) over the last three trading days of the month-end prior to the Quarterly Review.<\/p><\/blockquote>\n<p>Used to be CAD 100-million<\/p>\n<blockquote><p>A preferred share deleted from the index is not eligible for re-inclusion in the index until 6-month after the effective date of the exclusion.<br \/>\n<i>Note: While the inclusion criteria explicitly excludes issues that have a mandatory conversion or scheduled maturity within 12 months of the rebalancing effective date, no such rule exists for continued membership.<\/i><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The clowns at S&#038;P have made some changes to their index methodology without issuing a press release; not only that, but the rush-job typographical errors on the TXPL methodology now appear to have been fixed, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-20356","post","type-post","status-publish","format-standard","hentry","category-indices-and-etfs"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/20356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20356"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/20356\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}