TecDAX

Performance index

ISIN	DE0007203275
WKN	720327
Price index
ISIN	DE0007203283
WKN	720328

The TecDAX is a German share index and was introduced on March 24, 2003 . It is available as a price index and a performance index. In addition to the DAX , the MDAX and the SDAX , the TecDAX belongs to the Prime Standard and to the DAX index family of Deutsche Börse AG .

It is the successor to the Nemax50 , which has fallen into disrepute due to insider trading and falsification of accounts, and continues its index series. Thus, the basis of the calculation is December 30, 1997 with 1,000 points. The concept of the TecDAX can hardly be compared with that of the Nemax50.

criteria

The TecDAX lists 30 of the largest so-called “ technology stocks ” in terms of market capitalization of the free float and stock exchange turnover . First of all, all technology stocks were rated on a quarterly basis and included in a ranking list with the 35 largest stocks using a tiered system. Based on this ranking list, it is then decided which new stocks may be included in the TecDAX and which will drop out. This ranking list has been created monthly for a number of years. In principle, the same criteria apply as for the DAX , MDAX and SDAX .

The criteria are:

Admission to the Prime Standard ,
Continuous trading on Xetra ,
Free float of at least 10%,
Legal seat or operational headquarters in Germany

On September 24, 2018, the separation into classic and technology stocks was lifted; the stocks previously listed in the TecDAX were also included in the SDAX and MDAX , which were enlarged accordingly. The TecDAX will be continued as a parallel index for technology stocks.

calculation

Deutsche Börse calculates the index from the prices in the Xetra electronic trading system . Its calculation starts at 9:00 a.m. CET and ends with the prices from the Xetra closing auction , which starts at 5:30 p.m. CET. The last index level is calculated at 5:35 p.m. after the Xetra closing auction. The L-TecDAX ( ISIN DE0001717072 , also called L / E-TecDAX) is calculated from 8:00 a.m. to 9:00 a.m. and between 5:45 p.m. and 8:00 p.m. CET . For historical reasons, this indicator is one of the so-called “late indices” and shows the development of the TecDAX values outside of Xetra trading hours. It is based on the prices of manually managed trading on the Frankfurt Stock Exchange (former floor trading ). Since January 1, 2006, the calculation frequency has been every second.

history

Back calculation

On July 1, 1999, Deutsche Börse introduced the Nemax 50 index, which consisted of the 50 largest stocks in the Neuer Markt segment in terms of market capitalization and stock exchange turnover . The base of the Nemax50 was 1,000 points as of December 30, 1997. In October 2002, Deutsche Börse announced that it would close the Neuer Markt and replace the Nemax50 with the TecDAX as the successor index. On March 21, 2003 the Nemax50 was quoted at 350.95 points, and the TecDAX has continued this series since then. However, TecDax and Nemax50 are only comparable to a limited extent, as on the one hand the respective index concepts are completely different. In contrast to the Nemax50, the TecDAX does not cover a topic-specific segment such as the Neuer Markt, but is limited to the technology sector within the Prime Standard . The transparency requirements in the Neuer Markt were also lower than in the former Official Market , which housed the DAX, MDAX and SDAX companies. Since the introduction of the TecDAX, the same transparency requirements (Prime Standard) have applied to all DAX indices. This also limits the informative value of the TecDAX retroactive accounting series.

Index development

In the context of the dot-com bubble , the time of the Neuer Markt was initially characterized by immense price increases. By July 31, 1998, the Nemax50 had more than tripled with 3,066.71 points within 7 months. A setback of 39 percent to 1,875 points on October 8, 1998 was followed by the next price explosion. After climbing above 5,000 points for the first time on December 13, 1999, the speculative bubble drove the index to 9,631.53 points on March 10, 2000, an increase of 414 percent since October 1998. On the same day, it reached an all-time high in trading of 9,694.07 points. Then the bubble burst and prices collapsed unprecedented. On September 3, 2001, the Nemax50 fell below its base value of 1,000 points and fell to 683.82 points by September 21, 2001. So it has lost 93 percent since its all-time high. A subsequent rise of 95 percent to an interim high of 1,335.25 points on November 26, 2001 was followed by the next slide, which ended on March 12, 2003 at 309.55 points, a further 77 percent loss since the interim high and 97 percent since the all-time high in 2000. The Nemax50 had already reached its all-time low during trading on October 7, 2002 at 306.32 points. The Nemax50 series ends on March 21, 2003 with 350.95 points, which also marks the beginning of the TecDAX series.

Shortly after its introduction on March 31, 2003, the TecDAX itself marked its lowest level in trading at 327.19 points and closed at 329.52 points, but remained above the lows of its predecessor. By March 8, 2004 it rose to 653.18 points, 98 percent above its low and 111% above the low of the Nemax50. By August 12, 2004, however, it lost 33 percent and fell back to 438.92 points. The TecDAX jumped over 1,000 points for the first time on October 8, 2007 in the course of trading and closed one day later above this level; the Nemax50 last reached this level in April 2002. At 1,043.84 points, the TecDAX reached its highest level to date on November 7, 2007, a gain of 138 percent since its low in 2004. In the meantime, he had climbed to 1,058.93 points. The TecDAX crashed in the course of the international financial crisis . On March 6, 2009, at 405.14 points, it marked the lowest level since May 2003. Compared to its high in 2007, it thus lost 61 percent.

In the following period, however, the index recorded enormous price gains and ended trading on April 5, 2011 with 948.59 points, a price increase of 134 percent since the low in 2009. During the euro crisis , the TecDAX fell again and closed on October 4 2011 with 626.22 points, which corresponds to a loss of 34 percent. The announcements of loose monetary policy and new bond purchase programs by the European Central Bank and the US Federal Reserve helped the TecDAX to rally that continues without any major interruption to this day. The TecDAX reached the 1,000 point mark again on August 1, 2013 and exceeded its highs from 2007 on September 5 and 10, 2013, based on the closing price and during trading. Since then, the TecDAX has continuously reached new highs. The index jumped above the 2,000 point mark on March 24, 2017 for the first time since the Nemax50 in March 2001. Up to its annual high in 2017 at 2,591.96 points, the performance is 314 percent since October 2011 and 540 percent since March 2009. The Nemax50 had last reached this level in February 2001.

Annual development

year	Final score in points	Change in points	Change in%
1997	1,000.00
1998	3,249.51	2,249.51	224.95%
1999	5,089.76	1,840.25	56.53%
2000	2,869.01	-2,220.75	−43.63%
2001	1,150.10	−1,718.91	−59.91%
2002	358.79	-791.31	−68.80%
2003	541.31	182.52	50.87%
2004	519.99	−21.92	−3.94%
2005	596.47	76.48	14.71%
2006	748.32	151.85	25.46%
2007	974.19	225.87	30.18%
2008	508.31	−465.88	−47.82%
2009	817.58	309.27	60.84%
2010	850.67	33.09	4.05%
2011	685.06	−165.61	−19.47%
2012	828.11	143.05	20.88%
2013	1,166.82	338.71	40.90%
2014	1,371.36	204.54	17.53%
2015	1,830.74	459.38	33.50%
2016	1,811.72	−19.02	−1.04%
2017	2,529.04	717.32	39.59%
2018	2,450.18	−78.86	−3.22%
2019	3,014.94	564.76	23.05%

Highs

The overview shows the all-time highs of the TecDAX as a performance index (with dividends) and as a price index (without dividends) as well as separately the performance index taking into account the back calculation ( Nemax50 series).

	Points	date
Performance index in the course of trading	3,302.94	Thursday, February 20, 2020
Performance index based on closing price	3,295.94	Wednesday 19th February 2020
Price index in the course of trading	2,598.94	Thursday, February 20, 2020
Price index on a closing price basis	2,593.43	Wednesday 19th February 2020

	Points	date
Performance index with back calculation in the course of trading	9,694.07	Friday March 10, 2000
Performance index with back calculation based on the closing price	9,631.53	Friday March 10, 2000

composition

The following table shows the companies assigned to the TecDAX index and their weighting in the TecDAX as of June 22, 2020. The table contains the data as published by Deutsche Börse and which is decisive for the weighting in the TecDAX. In particular, the market capitalization is only related to the free float determined by Deutsche Börse, not to the total number of shares. The market capitalization here does not correspond to the market value of all shares in the company, but only to the market value of the free float.

Surname	symbol	Branch	Index weighting	Number of shares	Free float market capitalization in € million	Seat
1 & 1 Drillisch AG	DRI	telecommunications	0.91%	176.764.649	1,039.75	Main valley
Aixtron SE	AIXA	Semiconductor industry	0.94%	112,927,320	1,078.84	Herzogenrath
Bechtle AG	BC8	IT services	3.72%	42,000,000	4,263.57	Neckarsulm
Cancom SE	COK	IT services	1.70%	38,548,001	1,950.53	Munich
Carl Zeiss Meditec AG	AFX	Medical technology	2.91%	89.440.570	3,334.77	Jena
CompuGroup Medical SE	COP	Healthcare software	1.29%	53.219.350	1,476.63	Koblenz
Deutsche Telekom AG	DTE	telecommunications	9.97%	1,099,366,471	11,429.97	Bonn
Drägerwerk AG & Co. KGaA	DRW3	Medical and safety technology	0.48%	7,600,000	553.28	Lübeck
Eckert & Ziegler Radiation and Medical Technology AG	EUZ	Medical technology and pharmacy	0.43%	5,292,983	497.54	Berlin
Evotec AG	EVT	biotechnology	2.71%	151.228.427	3,110.84	Hamburg
Freenet AG	FNTN	telecommunications	1.67%	128.061.016	1,915.39	Büdelsdorf
Infineon Technologies AG	IFX	Semiconductor industry	14.00%	787.470.945	16,050.22	Neubiberg
Jenoptik AG	JEN	Optics and electronics	0.94%	57.238.115	1,082.01	Jena
MorphoSys AG	MOR	biotechnology	3.15%	32,890,046	3,614.17	Martinsried
Nemetschek SE	NEM	Software for construction	3.01%	115,500,000	3,447.22	Munich
New Work SE	NWO	Social media	0.64%	5,620,435	733.91	Hamburg
Nordex SE	NDX1	Wind energy	0.55%	106.680.691	632.59	Rostock
Pfeiffer Vacuum Technology AG	PFV	mechanical engineering	0.66%	9,867,659	761.41	Asslar
Qiagen NV	QIA	biotechnology	7.57%	230.829.218	8,684.30	Venlo ( Netherlands ) (Headquarters: Hilden )
S&T AG	SANT	IT services	0.99%	66.096.103	1,137.22	Linz ( Austria )
SAP SE	SAP	software	10.77%	114,616,852	12,349.97	Walldorf
Sartorius AG	SRT3	Biotechnology, mechatronics	8.72%	37,440,000	9,999.67	Goettingen
Siemens Healthineers AG	SHL	Medical technology	5.68%	1,000,000,000	6,514.13	gain
Siltronic AG	WAF	Semiconductor industry	1.63%	30,000,000	1,873.82	Munich
Software AG	SOW	software	1.51%	74,000,000	1,726.40	Darmstadt
TeamViewer AG	TMV	software	4.01%	200,000,000	4,601.68	Goeppingen
Telefónica Deutschland Holding AG	O2D	telecommunications	2.30%	2,974,554,993	2,633.83	Munich
United Internet AG	UTDI	Internet provider	3.46%	194,000,000	3,968.85	Montabaur
Varta AG	VAR1	Electrical engineering				Ellwangen