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MDAX Index components | values (DE0008467416)

The MDAX (derived from Mid-Cap-DAX - Mid Cap stands for medium-sized companies or corresponding stock market values, see secondary value) is a German share index. It reflects the development of the 60 largest companies, which follow the 30 companies of the DAX in terms of market capitalization and order book turnover. The MDAX is part of the other DAX index family.


The MDAX was introduced on January 19, 1996; however, as with the DAX and SDAX, the index base is 1,000 points as of December 30, 1987. The index is recalculated up to this base date. This means that the development of the three indices can be directly compared from this point on. As part of a reorganization of its indices, Deutsche Börse reduced the second most important German share index on March 24, 2003 from 70 to 50 values. As of September 2018, the MDAX was expanded to 60 stocks in order to also include some companies that were previously exclusively listed in the TecDAX. In September 2021, the MDAX is to be reduced to 50 stocks again, as the DAX will be expanded to 40 stocks and 10 companies will move up from the MDAX to the DAX.


The MDAX is calculated as a performance index and a price index. However, usually only the performance index is considered.

The index is based on the prices of the electronic trading system Xetra. Its calculation begins every trading day at 9:00 a.m. CET and ends with the prices from the Xetra closing auction, which starts at 5:30 p.m. CET. Every trading day following the Xetra closing auction - between 5:45 pm and 8:00 pm CET - the so-called "Late Index" L-MDAX is calculated. This indicator for the development of the MDAX values ​​after Xetra close of trading is based on the floor trading prices on the Frankfurt Stock Exchange. The L-MDAX is calculated by Deutsche Börse AG, the operator of the Frankfurt Stock Exchange.

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