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IBS Intelligence launches the CedarIBS Fintech Index (CIFTI)

IBS Intelligence is pleased to launch an innovative service offering for the financial technologies marketplace- the CedarIBS FinTech Index (CIFTI).

The CIFTI is a unique equity index comprising of selected FinTech companies from around the world, across 25 exchanges. Currently there are 4 key indexes that enable one to track performance viz. i) CIFTI 50 ii) CIFTI Large Cap iii) CIFTI Mid Cap and iv) CIFTI Small Cap.

Indexes are computed every 2 hours; and are comparable to all major indices such as S&P, Dow Jones, NASDAQ, NIFTY, etc. One can observe on a % change basis CIFTI performance to other indexes as an indicator of the performance of this segment of companies compared to other global benchmarks.

Additionally, track over 140 FinTech companies!

The CIFTI also provides an opportunity to look at key stock metrics, P/E and Market Cap (where available) for over 140 FinTech companies across 25 stock exchanges, globally. One can look at the performance of a single stock and multiple stocks, a collection of large cap, mid cap and small cap stocks or a comparison of a stock against any of the major indexes to see how a stock is performing relative to the overall market.

Till date, there was no single source globally, for an instant review of stocks specific to the financial technologies marketplace. The CIFTI now provides this.

IBS Intelligence has created this global benchmarking platform for investors, board members, CEO’s and the leadership teams and customers of FinTech companies as well as for financial investors in the banking and private equity industries. The services of CIFTI, are currently being offered at no charge. In addition to the CIFTI, IBS Intelligence offers industry reports covering many of these companies.

Visit the CIFTI now!

The Cedar IBS Fintech Index (CIFTI) is designed to reflect the performance of financial technology sector. Indexes are price return indexes calculated in USD using the market capitalization weighted methodology.

Index Family
CIFTI 50 is the flagship index comprising of 50 largest FinTech companies globally. The CIFTI Large Cap, Mid Cap & Small Cap Indexes are additional indexes which track the performance of similar sized companies (classification based upon the market capitalization).

Eligibility Criteria

  • Publicly listed financial technology companies
  • For companies, having multiple business lines, at least 25% of revenue must be derived from Financial technology business to eligible for inclusion
  • Ineligible companies include limited partnerships, master limited partnerships, OTC, ETF’s, convertible preferred stock, investment trusts, ADR’s etc.
  • Companies trading on OTC markets/bulletin boards are not included in the CIFTI

Index Start Date

  • All indexes are calculated with a base date of 1st July 2015
  • The base value of the Indexes is as follows:
    • CIFTI 50: 10,000
    • CIFTI Large Cap: 5,000
    • CIFTI Mid Cap: 2,000
    • CIFTI Small Cap: 1000

Index Calculation

  • On any given day, the index value is the quotient of the float adjusted market capitalization of the index’s constituents and its divisor
  • Continuity in index values is maintained by adjusting the divisor for all changes in the constituents share capital after the base date. This includes additions, deletions, rights issue, share buy backs etc.
  • The divisor is adjusted such that the index value at a point, prior to change in base capital, reflects the index value immediately following the change
  • Indexes are not calculated on a real time basis. They are calculated at four different intervals at GMT (4:00 am), GMT (6:00 am), GMT (8:00 am) & GMT (12:00 pm)

Additions

  • Initial Public Offering will be seasoned for a period of 6 to 12 months before being considered for eligibility
  • Companies getting reclassified as FinTech and IPO’s will first be added to the CedarIBS FinTech Universe, before being a part of the CIFTI 50
  • For CIFTI 50, in case of corporate action deletions, the next largest eligible company in terms of market capitalization will be added to the index

Deletions

  • Companies involved in mergers, acquisitions, or significant restructuring such that they no longer meet eligibility criteria will be removed immediately
  • Companies delisted as a result of corporate action, will be removed effectively within 5 business days post the stock halts trading
  • If a company moves to pink sheets or bulletin board, the stock will be removed from the CIFTI

Share Update

  • Changes in company’s shares outstanding due to its acquisition of another public company are made as soon as reasonably possible
  • All other changes of less than 5% are accumulated and made during quarterly rebalance

Index Rebalancing

  • All Indices are rebalanced quarterly
  • For reweighting purposes, the indices are rebalanced quarterly on the last Friday of March, June, September, and December

Index Corporate Actions

  • All Index constituents are readjusted for Price & Shares related Corporate Actions; they are applied after close of trading on the day prior to the ex-date
  • Typical price & shares impacting corporate actions are: Special Dividends (>5% of Share price), Mergers, Acquisitions, Stock Split, Reverse Split, Rights Issue etc.
Large Cap includes companies with market capitalisation of $5 Bn and above where as Mid Cap are those with market capitalisation between $1 Bn to $5 Bn and Small Cap are those with market capitalisation less than $1 Bn.

  • American Express Company
  • Automatic Data Processing Inc.
  • Broadridge Financial Solutions Inc.
  • CA Inc.
  • Cielo S.A.
  • Cognizant Technology Solutions Corporation
  • Corelogic
  • CSC (Computer Science Corporation)
  • DH Corporation
  • DST Systems
  • Equifax
  • Euronet Worldwide Inc.
  • FactSet Research Systems Inc.
  • Fair Isaac Corporation
  • Fidelity National Information Services Inc.
  • First Data Corp.
  • Fiserv Inc.
  • FleetCor Technologies Inc.
  • Genpact
  • Global Payments Inc.
  • Heartland Payment Systems Inc.
  • IBM
  • Infosys Limited
  • Ingenico
  • Intuit Inc.
  • Jack Henry & Associates Inc.
  • Markit
  • MasterCard Incorporated
  • Mercadolibre Inc.
  • NCR Corporation
  • Oracle Financial Services Software Limited
  • PayPal Holdings Inc.
  • PaySafe Group PLC
  • SAP
  • SS&C Technologies Holdings Inc.
  • Syntel Inc.
  • Tableau Software
  • Tata Consultancy Services Limited
  • Temenos Group AG
  • Teradata
  • The Western Union Company
  • Total System Services Inc.
  • Vantiv Inc.
  • VeriFone Systems Inc.
  • Visa Inc.
  • WEX Inc.
  • Wipro Ltd.
  • Wirecard AG
  • Workday Inc.
  • Worldline S.A.
  • American Express Company
  • Automatic Data Processing Inc.
  • Broadridge Financial Solutions Inc.
  • CA Inc.
  • Cielo S.A.
  • Cognizant Technology Solutions Corporation
  • Equifax
  • FactSet Research Systems Inc.
  • Fidelity National Information Services Inc.
  • First Data Corp.
  • Fiserv Inc.
  • FleetCor Technologies Inc.
  • Genpact
  • Global Payments Inc.
  • IBM
  • Infosys Limited
  • Ingenico
  • Intuit Inc.
  • Jack Henry & Associates Inc.
  • Markit
  • MasterCard Incorporated
  • Mercadolibre Inc.
  • PayPal Holdings Inc.
  • SAP
  • SS&C Technologies Holdings Inc.
  • Tata Consultancy Services Limited
  • The Western Union Company
  • Total System Services Inc.
  • Vantiv Inc.
  • Visa Inc.
  • Wipro Ltd.
  • Workday Inc.
  • ACI Worldwide Inc.
  • Black Knight Financial Services Inc.
  • Blackhawk Network Holdings Inc.
  • Bottomline Technologies
  • Cardtronics Inc.
  • Corelogic
  • CSC (Computer Science Corporation)
  • Demandware Inc.
  • DH Corporation
  • Diebold
  • DST Systems
  • Envestnet Inc.
  • Euronet Worldwide Inc.
  • EVERTEC Inc.
  • Fair Isaac Corporation
  • Fidessa group
  • Heartland Payment Systems Inc.
  • Hexaware
  • Industrial & Financial Systems IFS AB
  • IRESS Limited
  • Luxoft Holding Inc.
  • MphasiS Limited
  • NCR Corporation
  • Oracle Financial Services Software Limited
  • Paysafe Group Plc
  • Pegasystems
  • Silverlake Axis Ltd
  • Sopra Steria Group
  • Syntel Inc.
  • Tableau Software
  • Temenos Group AG
  • Teradata
  • VeriFone Systems Inc.
  • Virtusa Corporation
  • WEX Inc.
  • Wincor Nixdorf
  • Wirecard AG
  • Worldline S.A.
  • Xero Limited.
  • 3i Infotech Limited
  • Accelya Kale Solutions Limited
  • Amber Road Inc.
  • Apigee Corporation
  • ARI Network Services Inc.
  • Aurionpro Solutions Ltd
  • Axway
  • Bango PLC
  • BasWare Oyj
  • Brady plc
  • Cancom SE
  • Cass Information Systems Inc.
  • ChannelAdvisor Corporation
  • China Information Technology Inc.
  • CREALOGIX Holding AG
  • Datasonic Group Berhad
  • DeClout Limited
  • Dion Global Solutions
  • Earthport plc
  • eCargo Holdings Limited
  • Eckoh Plc
  • e-Future Holding Inc.
  • Everi Holdings Inc.
  • Financial Technologies
  • First Derivatives plc
  • GBST Holdings Limited
  • GFT Technologies AG
  • Gresham Computing plc
  • Guangzhou Haoyun Security Technologies Co. Ltd.
  • Ideagen PLC
  • Intellect Design Arena Limited
  • Intercede Group plc
  • ITG
  • Linedata Services SA
  • Lombard Risk Management plc
  • Majesco
  • Mercuries Data Systems Ltd.
  • Microgen plc
  • Microlink Solutions
  • Mindteck
  • Mint Payments Limited
  • Model N Inc.
  • Moneygram International Inc.
  • Monitise plc
  • N2N Connect Bhd
  • Net 1 Ueps Technologies Inc.
  • Nucleus Software Exports Limited
  • PFSweb Inc.
  • Pivot Technology Solutions Inc.
  • Planet Payment Inc.
  • Points International Ltd.
  • Polaris Consulting & Services Limited
  • Praemium Limited
  • PRGX Global Inc.
  • Pushpay Holdings Limited
  • Qiwi plc
  • Reckon Ltd.
  • SafeCharge International Group Limited
  • Sanderson Group Plc
  • SciQuest Inc.
  • ServiceSource International Inc.
  • Sodifrance SA
  • StatPro Group plc
  • Subex Limited
  • Sword Group SE
  • Tangoe Inc.
  • The Stratech Group Limited
  • TTG Fintech Limited
  • Tungsten Corporation Plc
  • Unisys Inc
  • Universal Technologies Holdings Ltd.
  • Xchanging plc

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