An IPO will be "fast-tracked" (added) to an index universes, if on the first quarterly record date for updating parameters, which occurs 60 calendar days from the first day of listing (fast track record date), and prior to the scheduled semi-annual index reconstitution date, a share meets 2 criteria:
- Meet the threshold criteria of the Rimon Universe
- Average market cap ranked among the 100 largest-cap shares in the Rimon Universe
The date of addition to universes shall be the first quarterly parameters update date following the fast track record date.
To simplify, here is what a typical fast track time table looks like:
- First trading day (IPO or dual listing)
- End of the eligibility period (60 calendar days after the first trading day)
- First Quarterly parameters record date
- Quarterly parameters update ("fast track entrance date")
- Semi-annual index reconstitution date
After a share is "fast tracked" into the universes, it will be added to relevant indices under the fast track criteria to join the index, assuming additional criteria apply to specific indices.
There will be no fast track adding in the semi-annual updates.
