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DAX welcomes ten new members

Release date:
03 Sep 2021
| Deutsche Börse

DAX welcomes ten new members

- German flagship index expanded to 40 constituents
- Most comprehensive index reform in the history of the DAX concluded
- Changes will become effective on 20 September

(Zug, 3 September 2021) - Qontigo’s global index provider STOXX Ltd. today announced the new composition of the DAX index family. 

The German flagship index DAX is being increased to 40 constituents, marking a significant evolution of the index and of the German capital market. Simultaneously, the MDAX will be reduced from 60 to 50 members. 

Changes in DAX

Additions (from MDAX)

  • Airbus SE 
  • Zalando SE
  • Siemens Healthineers AG
  • Symrise AG
  • HelloFresh SE
  • Sartorius AG Vz 
  • Porsche Automobil Holding 
  • Brenntag SE 
  • Puma SE 
  • Qiagen N.V. 

All changes in MDAX, SDAX and TecDAX can be found in the attached document.

The expansion of the DAX concludes a comprehensive reform process which was started in the summer of 2020. Several new rules were implemented gradually during the last nine months: 

Effective since December 2020 
- DAX candidates must have a positive EBITDA in their two most recent annual financial statements.

Effective since March 2021
- Index eligibility extended to all issuers in the Regulated Market of the Frankfurt Stock Exchange.
- Financial reporting requirements with specified sanctions for non-compliance introduced.
- Adherence to certain provisions relating to audit committees in the German corporate governance Code. 
- Additional DAX review introduced for March according to Regular Entry and Regular Exit criteria.

Effective since September 2021
- Ranking according to the single parameter market capitalization.
- Introduction of minimum liquidity requirement.
- DAX expanded to 40 constituents and MDAX reduced to 50.

Stephan Flaegel, Chief Product Officer, Indices and Benchmarks at Qontigo said:
“We are completing the biggest DAX reform in our history, manifesting the DAX as the German Blue Chip index which will represent a larger spectrum of the German capital market. The qualitative improvements and alignment with international standards are largely owed to feedback from market participants. Together, we have put the DAX index family in the best possible position for the future.” 


The next scheduled index review is 3 December 2021. 


DAX®, MDAX®, SDAX® and TecDAX® are registered trademarks of Qontigo Index GmbH.

About Qontigo

Qontigo is a leading global provider of innovative index, analytics and risk solutions that optimize investment impact. As the shift toward sustainable investing acceler-ates, Qontigo enables its clients—financial-products issuers, capital owners and asset managers—to deliver sophisticated and targeted solutions at scale to meet the in-creasingly demanding and unique sustainability goals of investors and asset owners worldwide.
Qontigo’s solutions are enhanced by both our collaborative, customer-centric culture, which allows us to create tailored solutions for our clients, and our open architecture and modern technology that efficiently integrate with our clients’ processes.
Part of the Deutsche Börse Group, Qontigo was created in 2019 through the combi-nation of Axioma, DAX and STOXX. Headquartered in Eschborn, Germany, Qontigo’s global presence includes offices in New York, London, Zug and Hong Kong.

About STOXX 

STOXX Ltd. is Qontigo’s global index provider, currently calculating a global, comprehensive index family of about 13,000 strictly rules-based and transparent indices. Best known for the leading European equity indices EURO STOXX 50, STOXX Europe 50 and STOXX Europe 600, STOXX Ltd. maintains and calculates the STOXX Global index family which consists of total market, broad and blue-chip indices for the regions Americas, Europe, Asia/Pacific and sub-regions Latin America and BRIC (Brazil, Russia, India and China) as well as global markets. 
STOXX is the administrator of the STOXX® and DAX® indices under the European Benchmark Regulation and exercises control over all benchmark administration processes within Qontigo.
STOXX indices are licensed to more than 600 companies around the world as underlyings for Exchange Traded Funds (ETFs), futures and options, structured products and passively managed investment funds. 


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