Illinois Tech Index FAQs

What is The NASDAQ OMX AeA Illinois Tech Index (NASDAQ: ILTI)?

The NASDAQ OMX AeA Illinois Tech Index (NASDAQ: ILTI), is a public-private partnership developed with the Illinois Department of Commerce and Economic Opportunity, Grant Thornton LLP, Baker & McKenzie and the Illinois Biotechnology Industry Association (iBIO) that will measure the health and growth of the state’s tech economy by tracking the leading public technology companies from major sectors including, high tech manufacturing, information technology, biotech, and life sciences.

Why track public companies?

Stock prices, although sometimes volatile, are good indicators of how the market values companies. An Initial Public Offering is also an attractive exit strategy for companies that create wealth for employees and shareholders, as well an important funding source to drive product development, R&D, acquisitions, and new jobs.

Why are foreign exchange companies excluded?

The NASDAQ OMX Stock Market only tracks US securities in their partner indexes.

How is the index calculated?

• The NASDAQ OMX AeA Illinois Tech Index is a market capitalization-weighted index of common type securities. The value of the Index equals the aggregate value of the Total Shares Outstanding (“TSO”), also known as Index Shares, of each of the component Index Securities multiplied by each such security’s respective last sale price¹, and divided by the Divisor of the Index. If trading in an Index Security is halted while the market is open, the last traded price for that security is used for all index computations until trading resumes. If trading is halted before the market is open, the previous day’s last sale price is used. The Index will begin on May 19, 2008 with a base value of 1000.00

• The formula for Index value is as follows: Aggregate Market Value/Divisor.  The Index is ordinarily calculated without regard to cash dividends on Index securities.  The Index is calculated during the trading day and is disseminated every 15 seconds from 09:30:15 to 17:16:00 ET through the NASDAQ Index Dissemination Services^SM (NIDS^SM). The closing value of the Index may change up until 17:15:00 ET due to corrections to the last sale price of the Index Securities.

Where is the Illinois Tech Index available?

The NASDAQ OMX AeA Illinois Tech Index (NASDAQ: ILTI) is available on the NASDAQ OMX Stock Market website (link to it). Licensing and posting information for the Illinois Tech Index can be obtained by contacting AeA directly.

Why Illinois?

Illinois is one of the world’s leading clusters for technology and is well-positioned for sustainable growth. Illinois' strength is its unique combination of critical success factors, including diverse technological and academic expertise, an unparalleled commitment to collaboration, our blend of quality of life and business infrastructure offerings, and our state government’s bipartisan approach to further enhance Illinois ’ tech-friendly environment. Why Illinois?

• With more than 200 academic, government and nonprofit research institutions, Illinois has one of the largest concentrations of research in the world
• Rich array of office and wet lab facilities, incubators and technology parks
• High-tech workers earn an average wage of $77,100, 68 percent more than Illinois 's average private sector wage (AeA 2008 Cyberstates)
• Venture capital investments of $510 million in 2007, up 24 percent from $410 million in 2006 (AeA 2008 Cyberstates)
• Rich offerings in medical, agricultural and industrial/environmental biotechnology and information technology sectors
• Innovative companies of all sizes: more than 16,100 high-tech establishments (AeA 2008 Cyberstates)
• Diverse economy utilizing technology products and services
• World class universities and a highly educated labor pool
• Organizations dedicated to assisting start-ups
• Leading network of service providers
• Great quality of life

 
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