press center press release

Nasdaq Launches Copenhagen 25 For Danish Market


Copenhagen, December 9, 2016 — Nasdaq (Nasdaq: NDAQ) today announced the introduction of the Copenhagen 25 index (OMXC25). The C25 is a capped index comprising the 25 shares with the highest six-month turnover and the largest free float adjusted market capitalization. The C25 index will be effective from December 19, 2016 with a base value of 1000.

After a 12-month period, the C25 will replace the C20 CAP as the leading index for the Danish equity market at the December 2017 review. Nasdaq intends to discontinue the C20 index family, but only after all derivatives products, investment funds and ETPs have expired or have relocated to the new C25.

 “Thanks in part to a string of large cap listings since 2010, and with Nets and DONG Energy among this year’s global top three IPOs*, the Danish stock market has near-doubled in market capitalization and equity turnover since 2012. This change should be reflected in a fundamental way,” said Bjørn Sibbern, President of Nasdaq Copenhagen, EVP Global Information Services, and continued:

 “After careful consideration and positive feedback from key stakeholders we are introducing the C25 as a better-suited indicator for the Danish equity market.”

The change will mean that after December 2017 the leading Danish index will have five additional index constituents, which will mark a return to the original KFX 25 constituent format from 1989. The change also means that more companies will be eligible for inclusion into the leading Danish stock index.

Chairman of the Danish Securities Dealers Association, Claus Gregersen said: “Leading indexes are vital to stock markets because they are flagships that drive visibility, guide investors and promote listed companies. A decision to change a winning concept and include five additional stocks into the index is a decision that will strengthen a basic pledge of visibility to listed companies. We encourage investors, listed companies and media to welcome the new C25, which the market will have 12 months to get accustomed to before Nasdaq Copenhagen appoints it to become the leading index for the Danish stock market.”

The selection rules for the C25 will rank all Danish listed shares according to free float adjusted market capitalization. The top 35 shares will constitute the C25 basic portfolio. Out of this, the top 25 shares with the highest turnover during six months will be included into the C25 active portfolio.

Copenhagen 25 Constituents

Effective December 19, 2016

CARL B Carlsberg A/S B
CHR Chr. Hansen Holding
COLO B Coloplast B
DANSKE Danske Bank
FLS FLSmidth & Co.
GEN Genmab
GN GN Store Nord
JYSK Jyske Bank A/S
LUN Lundbeck
MAERSK A A.P. Møller - Maersk A
MAERSK B A.P. Møller - Maersk B
NDA DKK Nordea Bank AB
NKT NKT Holding
NOVO B Novo Nordisk B
NZYM B Novozymes B
PNDORA Pandora
TOP Topdanmark
VWS Vestas Wind Systems
WDH William Demant Holding

Facts Sheet:

Nasdaq Copenhagen market capitalization:

·       2012: 1,300 billion DKK

·       2016: 2,300 billion DKK

Number of large cap shares:

·       2012: 24

·       2016: 36

Average daily equity turnover:

·       2012: 2.4 billion DKK

·       2016: 5.4 billion DKK

Recent large cap listings and market capitalization at listing:

·       Chr. Hansen: 12.4 billion DKK

·       Pandora: 27.3 billion DKK

·       ISS: 29.6 billion DKK

·       Scandinavian Tobacco Group: 10 billion DKK

·       DONG Energy: 98.2 billion DKK

·       Nets: 30 billion DKK

*According to PwC IPO Watch Q3 2016:

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,700 listed companies with a market value of $10.0 trillion and approximately 18,000 corporate clients. To learn more, visit: or

Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, Nasdaq Clearing and Nasdaq Broker Services are respectively brand names for the regulated markets of Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd., Nasdaq Iceland hf., Nasdaq Riga, AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS, AB Nasdaq Vilnius, Nasdaq Clearing AB and Nasdaq Broker Services AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.

Cautionary Note Regarding Forward-Looking Statements

The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to factors detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.

Media Relations Contact:
Javier Lopez Garrido
+45 51 71 45 71

In This Story

Nasdaq Press Center

Read the latest press releases, request a press kit, and get in touch with our press team.

learn more