The S&P/TSX Composite Index is reviewed each quarter; at that time, additions or removals can be made. To be eligible for addition, a security must have had a volume-weighted average price of C$1 over the past three months and over the last three trading days of the month end prior to the index committee’s quarterly review. It must also represent a weight of 0.05 percent of the index at a minimum.Stock liquidity must be 0.5, and is calculated by dividing the total number of shares traded over the past year by float-adjusted shares outstanding. The company needs to be incorporated, formed or established in Canada and must have the TSX as its primary stock exchange listing.Securities that cannot be included in the S&P/TSX Composite Index include those issued by mutual fund corporations, preferred shares, warrants and all other types of securities that the index committee decides are inappropriate. Securities that have been listed on the TSX for fewer than six months are also ineligible.Securities may be removed from the index if they fall beneath the index committee’s buffer criteria. To stay eligible, securities must maintain a volume-weighted average price above C$1 over the three months leading up to a quarterly review. They must also keep a minimum index weight of 0.025 percent three days prior to the review, as well as liquidity of 0.25. Securities may also be removed at the index committee's discretion at any other time.