TXPL: Changes Made to Methodology

The clowns at S&P have made some changes to their index methodology without issuing a press release; not only that, but the rush-job typographical errors on the TXPL methodology now appear to have been fixed, but the TXPL documentation is now linked on the web page for TXPR as well as the web page for TXPL.

However, some changes have substance.

The changes are (bolding added by JH):

Market Capitalization. Preferred shares with total market capitalization of less than C$ 75 million as of the rebalancing reference date are excluded from the index, based on the volume weighted average price (VWAP) over the last three trading days of the month-end prior to the Quarterly Review.

Used to be CAD 100-million

A preferred share deleted from the index is not eligible for re-inclusion in the index until 6-month after the effective date of the exclusion.
Note: While the inclusion criteria explicitly excludes issues that have a mandatory conversion or scheduled maturity within 12 months of the rebalancing effective date, no such rule exists for continued membership.

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