I NDEX G UIDELINE
SOLACTIVE CLIMATE CHANGE EUROPE BTI INDEX

Version 1.0
16 December 2020

INDEX GUIDELINETABLE OF CONTENTS
Introduction .............................................................................................................................................................................................................................. 3
1.

Index Specifications ................................................................................................................................................................................................... 4
1.1.

Scope of the Index ................................................................................................................................................................................................ 4

1.2.

Identifiers and Publication ................................................................................................................................................................................ 4

1.3.

Initial Level of the Index ..................................................................................................................................................................................... 5

1.4.

Prices and calculation frequency ................................................................................................................................................................... 5

1.5.

Licensing.................................................................................................................................................................................................................. 52.

Index Selection ............................................................................................................................................................................................................ 6
2.1.

Index Universe Requirements........................................................................................................................................................................... 6

2.2.

Selection of the Index Components ............................................................................................................................................................... 6

2.3.

Weighting of the Index Components .............................................................................................................................................................. 7

3.

Rebalance ..................................................................................................................................................................................................................... 8
3.1.

Ordinary Rebalance ............................................................................................................................................................................................. 8

3.2.

Extraordinary Rebalance ................................................................................................................................................................................... 8

4.

Calculation of the Index ........................................................................................................................................................................................... 9
4.1.

Index formula ......................................................................................................................................................................................................... 9

4.2.

Accuracy ................................................................................................................................................................................................................ 10

4.3. Adjustments ......................................................................................................................................................................................................... 10
4.4. Corporate actions ............................................................................................................................................................................................... 10
4.5. Recalculation ........................................................................................................................................................................................................ 11
4.6. Market Disruption ................................................................................................................................................................................................ 11
5.

Miscellaneous ............................................................................................................................................................................................................. 12
5.1.

Discretion ............................................................................................................................................................................................................... 12

5.2.

Methodology Review........................................................................................................................................................................................... 125.3. Changes in calculation method ...................................................................................................................................................................... 125.4. Termination ...........................................................................................................................................................................................................13
5.5.
6.

Oversight ................................................................................................................................................................................................................13

Definitions ....................................................................................................................................................................................................................14

Contact ......................................................................................................................................................................................................................................16

2

Version 1.0 – 16 December 2020

INDEX GUIDELINEINTRODUCTION
This document (the “GUIDELINE”) is to be used as a guideline with regard to the composition, calculation andmaintenance of the Solactive Climate Change Europe BTI Index (the “INDEX”). Any amendments to the rules
made to the GUIDELINE are approved by the OVERSIGHT COMMITTEE specified in Section 5.5. The INDEX is owned,
calculated, administered and published by Solactive AG (“SOLACTIVE”) assuming the role as administrator(the “INDEX ADMINISTRATOR”) under the Regulation (EU) 2016/1011 (the “BENCHMARK REGULATION” or “BMR”).
The name “Solactive” is trademarked.

The text uses defined terms which are formatted with “SMALL CAPS”. Such Terms shall have the meaning
assigned to them as specified in Section 6 (Definitions).
The GUIDELINE and the policies and methodology documents referenced herein contain theunderlying principles and rules regarding the structure and operation of the INDEX. SOLACTIVE does
not offer any explicit or tacit guarantee or assurance, neither pertaining to the results from the useof the INDEX nor the level of the INDEX at any certain point in time nor in any other respect. SOLACTIVE
strives to the best of its ability to ensure the correctness of the calculation. There is no obligationfor SOLACTIVE – irrespective of possible obligations to issuers – to advise third parties, including
investors and/or financial intermediaries, of any errors in the INDEX. The publication of the INDEX by
SOLACTIVE does not constitute a recommendation for capital investment and does not contain any
assurance or opinion of SOLACTIVE regarding a possible investment in a financial instrument basedon this INDEX.

3

Version 1.0 – 16 December 2020

INDEX GUIDELINE

1.

INDEX SPECIFICATIONS

1.1.

SCOPE OF THE INDEX

Category
Asset Class

Description
EquityRepresent companies that are aligned to the 2°C global warming
scenario through 2050 with low volatility and high dividends.
EuropeQuarterly

Strategy
Regional Allocation
Rebalancing Fee
Rebalancing Frequency

1.2. IDENTIFIERS AND PUBLICATIONThe INDEX is published under the following identifiers:
Name
Solactive Climate Change
Europe BTI PR
Solactive Climate Change
Europe BTI NTR
Solactive Climate Change
Europe BTI TR
Solactive Climate Change
Europe BTI ER

ISIN

Currency

Type

RIC

BBG ticker

DE000SL0BT91

EUR

PR*

.SBTICCPE SBTICCPE

DE000SL0BUA0

EUR

NTR*

.SBTICCNE SBTICCNE

DE000SL0BUB8

EUR

GTR*

.SBTICCTE SBTICCTE

DE000SL0BUC6

EUR

AR**

.SBTICCGE SBTICCGE*PR, NTR, GTR means that the Index is calculated as price return, net total return & gross total return Index as described in the Equity Index Methodology, whichis available on the SOLACTIVE website: https://www.solactive.com/documents/equity-index-methodology/ .
** AR means that the Index is calculated as adjusted return index as described in Section 4.1.

The INDEX is published on the website of the INDEX ADMINISTRATOR (www.solactive.com) and is, in addition,
available via the price marketing services of Boerse Stuttgart GmbH and may be distributed to all of its
affiliated vendors. Each vendor decides on an individual basis as to whether it will distribute or display the
INDEX via its information systems.
Any publication in relation to the INDEX (e.g. notices, amendments to the GUIDELINE) will be available at thewebsite of the INDEX ADMINISTRATOR: https://www.solactive.com/news/announcements/.

4

Version 1.0 – 16 December 2020

INDEX GUIDELINE

1.3. INITIAL LEVEL OF THE INDEXThe initial level of the INDEX on the 12/03/2013, the START DATE, is 100. Historical values from the 16/12/2020,
the LIVE DATE, will be recorded in accordance with Article 8 of the BMR. Levels of the INDEX published for aperiod prior to the LIVE DATE have been back-tested.

1.4. PRICES AND CALCULATION FREQUENCY
The level of the INDEX is calculated on each CALCULATION DAY from 9:00 a.m. to 10:50 p.m. CET based on the
TRADING PRICES on the EXCHANGES on which the INDEX COMPONENTS are listed. TRADING PRICES of INDEXCOMPONENTS not listed in the INDEX CURRENCY are converted using the current Intercontinental Exchange(ICE) spot foreign exchange rate. Should there be no current TRADING PRICE for an INDEX COMPONENT, the laterof: (i) the most recent CLOSING PRICE; or (ii) the last available TRADING PRICE for the preceding TRADING DAY isused in the calculation.
In addition to the intraday calculation a closing level of the INDEX for each CALCULATION DAY is also
calculated. This closing level is based on the CLOSING PRICES for the INDEX COMPONENTS on the respective
EXCHANGES on which the INDEX COMPONENTS are listed. The CLOSING PRICES of INDEX COMPONENTS not listed in
the INDEX CURRENCY are converted using the 04:00 p.m. London time WM Fixing quoted by Reuters. If there
is no 04:00 p.m. London time WM Fixing for the relevant CALCULATION DAY, the last available 04:00 p.m.
London time WM Fixing will be used for the closing level calculation.

1.5. LICENSING
Licenses to use the INDEX as the underlying value for financial instruments, investment funds and financial
contracts may be issued to stock exchanges, banks, financial services providers and investment houses by
SOLACTIVE.

5

Version 1.0 – 16 December 2020

INDEX GUIDELINE

2.

INDEX SELECTION

On each SELECTION DAY, the INDEX ADMINISTRATOR will revise the composition of the INDEX.
In a first step, the INDEX ADMINISTRATOR determines the INDEX UNIVERSE in accordance with Section 2.1. The
INDEX UNIVERSE comprises all those financial instruments which fulfill the INDEX UNIVERSE REQUIREMENTS (asspecified in Section 2.1) and will constitute a starting pool from which the components of the INDEX will beselected. Based on this INDEX UNIVERSE, the new composition of the INDEX will be determined by applying therules outlined in Section 2.2.
Each new INDEX COMPONENT will be assigned a weight as described in Section 2.3.

2.1.

INDEX UNIVERSE REQUIREMENTS

The INDEX UNIVERSE is comprised of all financial instruments which fulfill the below requirements(the “INDEX UNIVERSE REQUIREMENTS“):
Is a member of the Solactive right. Climate AVG Target Europe Index (ISIN: DE000SL0A9W8), as
published on the Solactive website: https://www.solactive.com, on a SELECTION DAY.
Has an AVERAGE DAILY VALUE TRADED greater than or equal to EUR 10mn over the past 3 months until
and including the SELECTION DAY.
The determination of the INDEX UNIVERSE is fully rule-based and the INDEX ADMINISTRATOR cannot make any
discretionary decisions.

2.2. SELECTION OF THE INDEX COMPONENTS
Based on the INDEX UNIVERSE, the initial composition of the INDEX as well as any selection for an ordinary
rebalance is determined on the SELECTION DAY in accordance with the following rules: (the “INDEXCOMPONENT REQUIREMENTS“)
If a company has multiple share lines in the INDEX UNIVERSE, the most liquid listing is selected,
measured as minimum AVERAGE DAILY VALUE TRADED over the past 1 and 6 months until and including
the SELECTION DAY.
The top 40% securities are selected based on lowest volatility. Volatility is measured as thestandard deviation of the daily returns over the past 252 CALCULATION DAYS.
Only securities with at most 1 missing dividend over the last 5 years prior to the SELECTION DAY are
selected.

6

Version 1.0 – 16 December 2020

INDEX GUIDELINE

Only securities are selected where the last paid dividend with respect to the SELECTION DAY is higher
than or equal to the dividend paid 5 years prior to the SELECTION DAY.
Only securities with a payout ratio larger than 0%, but less than 200%, measured as Dividend overEarnings per Share prior to the SELECTION DAY, are selected.
Securities are ranked based on their ADJUSTED DIVIDEND YIELD. Securities with the highest ADJUSTEDDIVIDEND YIELD receive the highest rank.
The 30 highest ranked securities based on their ADJUSTED DIVIDEND YIELD are selected as INDEXCOMPONENTS. If less than 30 securities are eligible as INDEX COMPONENTS, the security with the lowest
volatility that was not previously eligible and fulfills all other criteria is chosen in an iterative
manner until the INDEX consists of 30 securities.
The selection of the INDEX COMPONENTS is fully rule-based and the INDEX ADMINISTRATOR cannot make any
discretionary decision.

2.3. WEIGHTING OF THE INDEX COMPONENTS
On each SELECTION DAY each INDEX COMPONENT is assigned a weight according to their rank based on the
ADJUSTED DIVIDEND YIELD where:
Top 1-10: 4.33%
Top 11-20: 3.33%
Top 21-30: 2.34%

7

Version 1.0 – 16 December 2020

INDEX GUIDELINE

3. REBALANCE
3.1. ORDINARY REBALANCE
In order to reflect the new selection of the INDEX COMPONENTS determined on the SELECTION DAY (inaccordance with Section 2.1 and 2.2) the INDEX is adjusted on the REBALANCE DAY after CLOSE OF BUSINESS.
This is carried out by implementing the weights as determined on the SELECTION DAY.
For more information on the rebalance procedure please refer to the Equity Index Methodology, which isincorporated
byreference
andavailable
onthe
Solactive
website:https://www.solactive.com/documents/equity-index-methodology/.
The INDEX is rebalanced over the REBALANCE PERIOD to downsize rebalance transactions in accordance with
the Equity Index Methodology, which is incorporated by reference and available on the SOLACTIVE website:
https://www.solactive.com/documents/equity-index-methodology/.
SOLACTIVE will publish any changes made to the INDEX COMPONENTS with sufficient notice before the
REBALANCE DAY on the SOLACTIVE webpage under the section “Announcement”, which is available athttps://www.solactive.com/news/announcements/

3.2. EXTRAORDINARY REBALANCE
The INDEX is not rebalanced extraordinarily.

8

Version 1.0 – 16 December 2020

INDEX GUIDELINE4.

CALCULATION OF THE INDEX

4.1. INDEX FORMULA
The INDEX is calculated as a price return, net total return, gross total return and adjusted return Index.
The calculation is performed according to the Equity Index Methodology, which is available on the SOLACTIVE
website: https://www.solactive.com/documents/equity-index-methodology/. The standard index formula
stipulates that the level of the INDEX changes based on the change of the prices of its INDEX COMPONENTS
taking into account their weight in the INDEX and any currency conversion in case the price of an INDEXCOMPONENT is quoted in a currency other than the INDEX CURRENCY. Any dividends or other distributions are
reinvested back into the INDEX COMPONENT paying the dividend at the opening of the effective date (the socalled ex-date) of the payment of such dividend or other distribution.
A more detailed description of the mechanics of the index calculation formula can be found in the Equity
Index Methodology under Section 1.2.
For the construction of the adjusted return version a decrement factor equal to the closing value of the 1month Euribor is deducted on each INDEX CALCULATION DAY from the GTR Index version. The decrement will
be calculated using the following formula:𝜗 𝑔𝜑𝑡+1 = 𝐼𝑛𝑑𝑒𝑥𝑡𝑐𝑙𝑜𝑠𝑒 ∗ (1 − (
∗ ))
100 𝛼
where:•

𝜑 = Decrement•𝑔 = number of index calculation days•

𝛼 = calendar days•

𝜗 = decrement factor (i.e. closing value of 1m Euribor at t)

The closing level of the Index level from t is reduced by 𝜑 to calculate the opening level of the Index in t+1
after deduction of the decrement.
𝑜𝑝𝑒𝑛
𝐼𝑛𝑑𝑒𝑥𝑡+1= 𝐼𝑛𝑑𝑒𝑥𝑡𝑐𝑙𝑜𝑠𝑒 − 𝜑𝑡+1

9

Version 1.0 – 16 December 2020

INDEX GUIDELINE

4.2. ACCURACY
The level of the INDEX will be rounded to 4 decimal places. TRADING PRICES and foreign exchange rates will
be rounded to six decimal places.

4.3. ADJUSTMENTS
Under certain circumstances, an adjustment of the INDEX may be necessary between two regular REBALANCE
DAYS. Such adjustment has to be made if a corporate action (as specified in Section 4.4 below) in relation of
an INDEX COMPONENT occurs. Such adjustment may have to be done in relation to an INDEX COMPONENT and/or
may also affect the number of INDEX COMPONENTS and/or the weighting of certain INDEX COMPONENTS and will
be made in compliance with the Solactive Equity Index Methodology, which is incorporated by reference andavailable on the SOLACTIVE website: https://www.solactive.com/documents/equity-index-methodology/.
SOLACTIVE will announce the INDEX adjustment giving a notice period of at least two TRADING DAYS (withrespect to the affected INDEX COMPONENT) on the SOLACTIVE website under the Section “Announcements”,
which is available at https://www.solactive.com/news/announcements/. The INDEX adjustments will be
implemented on the effective day specified in the respective notice.

4.4. CORPORATE ACTIONS
As part of the INDEX maintenance SOLACTIVE will consider various events – also referred to as corporate
actions – which result in an adjustment to the INDEX between two regular REBALANCE DAYS. Such events havea material impact on the price, weighting or overall integrity of INDEX COMPONENTS. Therefore, they need tobe accounted for in the calculation of the INDEX. Corporate actions will be implemented from the cum-day
to the ex-day of the corporate action, so that the adjustment to the INDEX coincides with the occurrence ofthe price effect of the respective corporate action.
Adjustments to the INDEX to account for corporate actions will be made in compliance with the Equity Index
Methodology, which is available on the SOLACTIVE website: https://www.solactive.com/documents/equityindex-methodology/. This document contains for each corporate action a brief definition and specifies therelevant adjustment to the INDEX variables.
While SOLACTIVE aims at creating and maintaining its methodology for treatment of corporate actions as
generic and transparent as possible and in line with regulatory requirements, it retains the right inaccordance with the Equity Index Methodology to deviate from these standard procedures in case of any
unusual or complex corporate action or if such a deviation is made to preserve the comparability andrepresentativeness of the INDEX over time.
SOLACTIVE considers following, but not conclusive, list of corporate actions as relevant for INDEX
maintenance:
Cash Distributions (e.g. payment of a dividend)
10

Version 1.0 – 16 December 2020

INDEX GUIDELINE

Stock distributions (e.g. payment of a dividend in form of additional shares)
Stock distributions of another company (e.g. payment of a dividend in form of additional shares ofanother company (e.g. of a subsidiary))
Share splits (company´s present shares are divided and therefore multiplied by a given factor)
Reverse splits (company´s present shares are effectively merged)
Capital increases (such as issuing additional shares)
Share repurchases (a company offer its shareholders the option to sell their shares to a fixed price)
Spin-offs (the company splits its business activities into two or more entities and distributes newequity shares in the created entities to the shareholders of the former entity)
Mergers & Acquisitions (transaction in which the ownership of a company (or other businessorganizations) are transferred or consolidated with other entities, e.g. fusion of two or more
separate companies into one entity)
Delistings (company´s shares are no longer publicly traded at a stock exchange)
Nationalization of a company (effective control of a legal entity is taken over by a state)
Insolvency

4.5. RECALCULATIONSOLACTIVE makes the greatest possible efforts to accurately calculate and maintain its indices. However,errors in the determination process may occur from time to time for variety reasons (internal or external)
and therefore, cannot be completely ruled out. SOLACTIVE endeavors to correct all errors that have been
identified within a reasonable period of time. The understanding of “a reasonable period of time” as well as
the general measures to be taken are generally depending on the underlying and is specified in the
Solactive Correction Policy, which is incorporated by reference and available on the SOLACTIVE website:
https://www.solactive.com/documents/correction-policy/.

4.6. MARKET DISRUPTION
In periods of market stress SOLACTIVE calculates its indices following predefined and exhaustive
arrangements as described in the Solactive Disruption Policy, which is incorporated by reference andavailable on the SOLACTIVE website: https://www.solactive.com/documents/disruption-policy/. Suchmarket stress can arise due to a variety of reasons, but generally results in inaccurate or delayed prices forone or more INDEX COMPONENTS. The determination of the INDEX may be limited or impaired at times of illiquid
or fragmented markets and market stress.

11

Version 1.0 – 16 December 2020

INDEX GUIDELINE5.

MISCELLANEOUS

5.1. DISCRETION
Any discretion which may need to be exercised in relation to the determination of the INDEX (for example
the determination of the INDEX UNIVERSE (if applicable), the selection of the INDEX COMPONENTS (if applicable)or any other relevant decisions in relation to the INDEX) shall be made in accordance with strict rules
regarding the exercise of discretion or expert judgement.

5.2. METHODOLOGY REVIEWThe methodology of the INDEX is subject to regular review, at least annually. In case a need of a change ofthe methodology has been identified within such review (e.g. if the underlying market or economic reality
has changed since the launch of the INDEX, i.e. if the present methodology is based on obsolete
assumptions and factors and no longer reflects the reality as accurately, reliably and appropriately as
before), such change will be made in accordance with the Solactive Methodology Policy, which isincorporated
byreference
andavailable
on
the
SOLACTIVE
website:https://www.solactive.com/documents/methodology-policy/.
Such change in the methodology will be announced on the SOLACTIVE website under the Section“Announcement”, which is available at https://www.solactive.com/news/announcements/. The date of
the last amendment of this INDEX is contained in this GUIDELINE.

5.3. CHANGES IN CALCULATION METHOD
The application by the INDEX ADMINISTRATOR of the method described in this document is final and binding.
The INDEX ADMINISTRATOR shall apply the method described above for the composition and calculation of the
INDEX. However, it cannot be excluded that the market environment, supervisory, legal and financial or tax
reasons may require changes to be made to this method. The INDEX ADMINISTRATOR may also make changes
to the terms and conditions of the INDEX and the method applied to calculate the INDEX that it deems to benecessary and desirable in order to prevent obvious or demonstrable error or to remedy, correct or
supplement incorrect terms and conditions. The INDEX ADMINISTRATOR is not obliged to provide information
on any such modifications or changes. Despite the modifications and changes, the INDEX ADMINISTRATOR willtake the appropriate steps to ensure a calculation method is applied that is consistent with the method
described above.

12

Version 1.0 – 16 December 2020

INDEX GUIDELINE

5.4. TERMINATIONSOLACTIVE makes the greatest possible efforts to ensure the resilience and continued integrity of its indicesover time. Where necessary, SOLACTIVE follows a clearly defined and transparent procedure to adapt Index
methodologies to changing underlying markets (see Section 5.2 “Methodology Review”) in order to maintaincontinued reliability and comparability of the indices. Nevertheless, if no other options are available theorderly cessation of the INDEX may be indicated. This is usually the case when the underlying market or
economic reality, which an index is set to measure or to reflect, changes substantially and in a way notforeseeable at the time of inception of the index, the index rules, and particularly the selection criteria, canno longer be applied coherently or the index is no longer used as the underlying value for financial
instruments, investment funds and financial contracts.
SOLACTIVE has established and maintains clear guidelines on how to identify situations in which the
cessation of an index is unavoidable, how stakeholders are to be informed and consulted and theprocedures to be followed for a termination or the transition to an alternative index. Details are specified
in the Solactive Termination Policy, which is incorporated by reference and available on the SOLACTIVE
website: https://www.solactive.com/documents/termination-policy/.

5.5. OVERSIGHT
An oversight committee composed of staff from SOLACTIVE and its subsidiaries (the “OVERSIGHT COMMITTEE”)
is responsible for decisions regarding any amendments to the rules of the INDEX. Any such amendment,
which may result in an amendment of the GUIDELINE, must be submitted to the OVERSIGHT COMMITTEE for priorapproval and will be made in compliance with the Methodology Policy, which is available on the SOLACTIVE
website: https://www.solactive.com/documents/methodology-policy/.

13

Version 1.0 – 16 December 2020

INDEX GUIDELINE

6.

DEFINITIONSADJUSTED DIVIDEND YIELD is calculated as the dividend yield divided by the maximum of country dividend
yield and universe dividend yield using the below formula:

𝐴𝑑𝑗. 𝐷𝑌𝑖,𝑡 =𝐷𝑌𝑖,𝑡max(𝑐𝑜𝑢𝑛𝑡𝑟𝑦 𝐷𝑌𝑖,𝑡 , 𝑢𝑛𝑖𝑣𝑒𝑟𝑠𝑒 𝐷𝑌𝑖,𝑡 )
𝑖,𝑡where:▪

𝐷𝑌𝑖,𝑡 : Dividend Yield of security i on SELECTION DAY t▪

𝑐𝑜𝑢𝑛𝑡𝑟𝑦 𝐷𝑌𝑖𝜖𝐶,𝑡 =▪

𝑢𝑛𝑖𝑣𝑒𝑟𝑠𝑒 𝐷𝑌𝑖,𝑡 =▪

𝑀𝐶𝐴𝑃 𝑎𝑑𝑗. 𝐷𝑌𝑖,𝑡 = 𝐷𝑌𝑖,𝑡 ∗ 𝑀𝐶𝐴𝑃𝑖,𝑡▪

𝑖: Security in the index universe▪

𝑖 𝜖 𝐶: Security in the index universe that has its primary listing in country C▪

t: SELECTION DAY∑𝑖𝜖𝐶 𝑚𝑐𝑎𝑝 𝑎𝑑𝑗. 𝐷𝑌𝑖,𝑡∑𝑖𝜖𝐶 𝑀𝐶𝐴𝑃𝑖,𝑡∑𝑛𝑖=1 𝑚𝑐𝑎𝑝 𝑎𝑑𝑗. 𝐷𝑌𝑖,𝑡∑𝑛
𝑖=1 𝑀𝐶𝐴𝑃𝑖,𝑡For the calculation of the back-tested values, dividend yields have been retrieved with a lag (t-75D) toprevent a look-ahead bias.
“AVERAGE DAILY VALUE TRADED” means, in respect of an INDEX COMPONENT, the sum of DAILY VALUE TRADED
over the specified period divided by the number of TRADING DAYS that fall in the specified period.
“BENCHMARK REGULATION” shall have the meaning as defined in Section “Introduction”.
“BMR” shall have the meaning as defined in Section “Introduction”.
“CALCULATION DAY” is every day on which the EUREX Exchange is open for general business.
“CLOSE OF BUSINESS” is the calculation time of the closing level of the INDEX as outlined in Section 1.4.
The “CLOSING PRICE” in respect of an INDEX COMPONENT and a TRADING DAY is a security's final regular-hours
TRADING PRICE published by the EXCHANGE and determined in accordance with the EXCHANGE regulations. If
the EXCHANGE has no or has not published a CLOSING PRICE in accordance with the EXCHANGE rules for an INDEXCOMPONENT, the last TRADING PRICE will be used.
“DAILY VALUE TRADED” means, in respect of an INDEX COMPONENT and a TRADING DAY, the product of (i) the
CLOSING PRICE of such INDEX COMPONENT and (ii) the volume traded (measured as a number of shares) of such
INDEX COMPONENT on the EXCHANGE during such TRADING DAY.
“EXCHANGE” is with respect to the INDEX and every INDEX COMPONENT, the respective exchange where the
INDEX COMPONENT has its listing as determined in accordance with the rules in Section 2.
14

Version 1.0 – 16 December 2020

INDEX GUIDELINE“GUIDELINE” shall have the meaning as defined in Section “Introduction”.
“INDEX” shall have the meaning as defined in Section “Introduction”.
“INDEX ADMINISTRATOR” shall have the meaning as defined in Section “Introduction”.
“INDEX COMPONENT” is each security reflected in the INDEX.
“INDEX COMPONENT REQUIREMENTS” shall have the meaning as defined in Section 2.2.
“INDEX CURRENCY” is the currency specified in the column “Currency” in the table in Section 1.2.
“INDEX UNIVERSE REQUIREMENTS” shall have the meaning as defined in Section 2.1.
“INDEX UNIVERSE” is the sum of all financial instruments which fulfill the INDEX UNIVERSE REQUIREMENTS.
“LIVE DATE” shall have the meaning as defined in Section 1.3.
“OVERSIGHT COMMITTEE” shall have the meaning as defined in Section 5.5.
“REBALANCE DAY” is 2 CALCULATION DAYS after the SELECTION DAY. If that day is not a TRADING DAY theREBALANCE DAY will be the immediately following TRADING DAY.
“REBALANCE PERIOD” is the period starting from (and including) the REBALANCE DAY until and (including) the
immediately following 3 TRADING DAYS (for clarification: the entire REBALANCE PERIOD is 4 TRADING DAYS).
“SELECTION DAY” is the second Friday in March, June, September and December.
“SOLACTIVE” shall have the meaning as defined in Section “Introduction”.
“START DATE” shall have the meaning as defined in Section 1.3.
“TRADING DAY” is with respect to an INDEX COMPONENT included in the INDEX at the REBALANCE DAY and every
INDEX COMPONENT included in the INDEX at the CALCULATION DAY immediately following the REBALANCE DAY (forclarification: this provision is intended to capture the TRADING DAYS for the securities to be included in the
INDEX as new INDEX COMPONENTS with close of trading on the relevant EXCHANGE on the REBALANCE DAY) a dayon which the relevant EXCHANGE is open for trading (or a day that would have been such a day if a market
disruption had not occurred), excluding days on which trading may be ceased prior to the scheduled
EXCHANGE closing time and days on which the EXCHANGE is open for a scheduled shortened period. The INDEXADMINISTRATOR is ultimately responsible as to whether a certain day is a TRADING DAY.
The “TRADING PRICE” in respect of an INDEX COMPONENT and a TRADING DAY is the most recent published priceat which the INDEX COMPONENT was traded on the respective EXCHANGE.

15

Version 1.0 – 16 December 2020

INDEX GUIDELINECONTACT
Solactive AG
German Index Engineering
Platz der Einheit 1
60327 Frankfurt am Main
Germany
Tel.:
Fax:
Email:
Website:+49 (0) 69 719 160 00+49 (0) 69 719 160 25
info@solactive.com
www.solactive.com© Solactive AG
16

Version 1.0 – 16 December 2020