HIMIPref™ Index Rebalancing: March 2009

HIMI Index Changes, March, 2009
Issue From To Because
PWF.PR.A Floater Scraps Volume
DFN.PR.A SplitShare Scraps Credit
LFE.PR.A SplitShare Scraps Credit
SBN.PR.A SplitShare Scraps Credit

To my chagrin, there are now only three issues left in the SplitShare index, all from BAM Split Corp.: BNA.PR.A, BNA.PR.B and BNA.PR.C.

There were the following intra-month changes:

HIMI Index Changes during March 2009
Issue Action Index Because
FAL.PR.B Delete Scraps Redeemed
MFC.PR.D Add FixedReset New Issue
TD.PR.I Add FixedReset New Issue
CM.PR.M Add FixedReset New Issue
MFC.PR.D Add FixedReset New Issue
RY.PR.T Add FixedReset New Issue
BNS.PR.S Delete FixedReset Coverage Discontinued
MFC.PR.D Add FixedReset New Issue
BMO.PR.O Add FixedReset New Issue
CIU.PR.B Add FixedReset New Issue
HSB.PR.E Add FixedReset New Issue

HSB.PR.E is one of those issues which are sent to try us. It was announced on March 23 with an anticipated closing date of March 31. I have seen nothing to indicate that it didn’t close, but while HSBC Canada may well have received their cheque for $175-250-million, not a single share changed hands on the exchange. With any luck, we’ll see a trade or two tomorrow.

4 Responses to “HIMIPref™ Index Rebalancing: March 2009”

  1. beluga says:

    I recall BIG.PR.B was excluded for being too small but maybe it’s worth considering. It seems to have a little volume.

  2. jiHymas says:

    It’s a good thought, but the issue is only 1.2-million shares at a par value of $10; the TSX reports only 1,200 shares trading daily.

    I’d love to, but feel that this would compromise the value of the HIMIPref™ indices, by reporting opportunities that can’t be exploited.

  3. […] Index Revisions during February 2009, see the post HIMIPref™ Index Rebalancing: March 2009. Publication of index details is embargoed for six months following index […]

  4. […] an anticipated closing date of March 31. I assumed it had settled – albeit without trading – and added it to the index for March 31. However, the issue had not settled; there were problems due to the downgrade by S&P. A new […]

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