The NASDAQ OMX AeA Illinois Tech Index

Read AeA's press release and/or the Chicago Sun Times article about the index. 

The NASDAQ Stock Market (NASDAQ), a subsidiary of The NASDAQ OMX Group, Inc., and AeA have created the only existing statewide public technology index in the United States. The NASDAQ OMX AeA Illinois Tech Index 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 Organization (iBIO). The statewide index will track public companies headquartered in Illinois from major sectors including high tech manufacturing, information technology, biotech, and life sciences.

The Mission of the Illinois Tech Index:

• Highlight Illinois' leading public technology companies and innovation assets
• Increase venture capital and technology investment activity in Illinois
• Attract and retain technology talent, jobs, and companies
• Support technology entrepreneurial growth

Eligibility Requirements for the Illinois Tech Index:

• Technology companies as defined by the American Electronics Association and iBIO’s definition of technology (using NAICS or SIC codes), as well as through a direct assessment of publicly available information concerning products, intellectual property and research & development expenditures.
  

• NASDAQ OMX, AMEX, NYSE listed high tech manufacturing, information technology, biotech, and life sciences companies with headquarters in Illinois. Subsidiaries of foreign-owned companies with their primary U.S. location in Illinois and meeting all other requirements are also eligible. 
  

• Subsidiaries of U.S.companies, securities listed on foreign exchanges, and OTC listed entities are excluded.
  

• Final determination for companies listed on the index is made by an advisory committee based on these eligibility requirements and businesses that, in part or as a whole, focus on creating, making, or innovating technology.

Changes and update to the Illinois Tech Index:

The Illinois Tech Index will be updated and rebalanced on a semi-annual basis to include new public companies which meet the eligibility criteria and to exclude securities that no longer meet the eligibility criteria.

• AeA will provide quarterly updates on the performance of the index and is exploring efforts to highlight many of Illinois’ leading private and numerous foreign exchange companies with US headquarters in Illinois.

Illinois Tech Index Calculation:

The NASDAQ OMX AeA Illinois Tech Index is a market capitalization-weighted index. 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. The Divisor serves the purpose of scaling such aggregate value to a lower order of magnitude which is more desirable for Index reporting purposes. 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 began on May 19, 2008 with a base value of 1000.00

The formula for Index value is as follows: Aggregate Adjusted 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.

Illinois Tech Index Listing and Licensing Information:

The NASDAQ OMX AeA Illinois Tech Index (NASDAQ: ILTI) is available on NASDAQ’s Partner Index website under the symbol ILTI. Licensing and posting information for the Illinois Tech Index can be obtained by contacting AeA directly. For additional questions about the Illinois Tech Index, please visit the FAQ page.

 
Illinois Tech Index Sponsors and Partners