The CedarIBS FinTech Index

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!

What is the CIFTI Methodology and how are they calculated?

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

Index Start Date
All indexes are calculated with a base date of 1st July 2015
The base value of the Indexes is as follows:

Index Calculation

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.

What is the definition of large cap, mid cap, and small cap?

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.

What companies are covered in CIFTI50?

• Adyen N.V.
• American Express Company
• Automatic Data Processing Inc.
• Avalara
• Broadridge Financial Solutions Inc.
• Cielo S.A.
• Cognizant Technology Solutions Corporation
• Corelogic
• DXC Technology Company
• Equifax
• Euronet Worldwide Inc.
• FactSet Research Systems Inc.
• Fair Isaac Corporation
• Fidelity National Information Services Inc.
• Fiserv Inc.
• FleetCor Technologies Inc.
• Funding Circle Holdings Limited
• Genpact
• Global Payments Inc.
• GreenSky Inc.
• Hundsun Technologies Inc.
• IBM
• IG Group Holding
• IHS Markit Ltd
• Infosys Limited
• Ingenico
• Intuit Inc.
• Jack Henry & Associates Inc.
• LexinFintech Holdings Ltd.
• MasterCard Incorporated
• Mercadolibre Inc.
• NCR Corporation
• Oracle Financial Services Software Limited
• PayPal Holdings Inc.
• SAP
• Square Inc.
• SS&C Technologies Holdings Inc.
• Tata Consultancy Services Limited
• Temenos Group AG
• Teradata
• The Western Union Company
• Tyler Technologies Inc.
• Vakrangee Ltd
• Visa Inc.
• WEX Inc.
• Wipro Ltd.
• Wirecard AG
• Workday Inc.
• Worldline S.A.
• StoneCo Ltd

What companies are covered in CIFTI Large Cap?

• Adyen N.V.
• American Express Company
• Automatic Data Processing Inc.
• Avalara
• Broadridge Financial Solutions Inc.
• Cielo S.A.
• Cognizant Technology Solutions Corporation
• DXC Technology Company
• Equifax
• FactSet Research Systems Inc.
• Fidelity National Information Services Inc.
• Fiserv Inc.
• FleetCor Technologies Inc.
• Genpact
• Global Payments Inc.
• IBM
• IHS Markit Ltd
• Infosys Limited
• Ingenico
• Intuit Inc.
• Jack Henry & Associates Inc.
• MasterCard Incorporated
• Mercadolibre Inc.
• PayPal Holdings Inc.
• SAP
• Square Inc.
• SS&C Technologies Holdings Inc.
• StoneCo Ltd
• Tata Consultancy Services Limited
• Temenos Group AG
• The Western Union Company
• Tyler Technologies Inc.
• Visa Inc.
• Wipro Ltd.
• Wirecard AG
• Workday Inc.

What companies are covered in CIFTI Mid Cap?

• ACI Worldwide Inc.
• Black Knight Financial Services Inc.
• Cardtronics Inc.
• Corelogic
• Diebold
• Envestnet Inc.
• Euronet Worldwide Inc.
• EVERTEC Inc.
• Fair Isaac Corporation
• Funding Circle Holdings Limited
• Glory Ltd
• GMO Payment Gateway, Inc.
• GreenSky Inc.
• Hexaware
• Hundsun Technologies Inc.
• IG Group Holding
• IRESS Limited
• LendingClub Corporation
• LexinFintech Holdings Ltd.
• MphasiS Limited
• NCR Corporation
• Oracle Financial Services Software Limited
• Pegasystems
• Qiwi plc
• Silverlake Axis Ltd
• Sopra Steria Group
• Teradata
• TMX Group
• Vakrangee Ltd
• WEX Inc.
• Worldline S.A.
• Xero Limited.

What companies are covered in CIFTI Small Cap?

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