CASIQ
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Mission

The Centre d'analyse et de suivi de l'indice Québec (CASIQ) is a non-profit organization whose sole mission is to maintain and update indexes of the Index Québec range and the territorial indexes of the Canada Index range. It is the result of a partnership between the Department of Finance of the Université de Sherbrooke and the Institut de recherche en économie contemporaine (IREC).

To assist it in its mission, the CASIQ is supported by an advisory committee whose role is to establish and monitor the application of the index maintenance and follow-up policy. It is composed of six people working or having worked in the field of professional placement and the director of CASIQ.

The Index Québec range currently has two indexes. The Index Québec 120 (IQ-120), which is a general index showing the evolution of the values (price index) on the market and the Index Québec 30 (IQ-30), which is a sub-index of the general index. The latter includes large cap stocks and greater liquidity. To see its securities listed on the stock market index, a company must meet three so-called entry and exit criteria:

  • have its head office in Quebec;
  • be registered as a reporting issuer in the CVMQ or meet the requirements of similar legislation in other north american jurisdictions;
  • have his securities listed on one or more north american stock exchanges.

The indexes in the Index Québec range are distinguished first by the methodology used to define the Quebec aspect of the companies selected. This definition of "Québec content" and the inclusion or exclusion in the index are not made according to the sole criteria of domicile of companies. Rather, they depend on a set of indicators that define the contribution to Québec's economic activity: head office, board of directors, directors, employees, production centers and control of capital and/or activities, etc.

The second original element of the Index Québec 30, as well as the Index Québec 120, is the use of a 2/3 exponent applied to the market value of the companies' float (see methodology for calculating the index). This procedure smoothes the relative importance of each of the securities in the index, eliminating the need to impose an artificial ceiling (CAP) to avoid the preponderance of one or two securities in an index. These ceilings (CAPS) have the major disadvantage of not allowing to fully participate in the price increase while fully allowing participation in the declines. The procedure adopted for the Index Québec range allows to track all price movements of securities that make up the index.

The indexes of the Index Canada range are defined according to the same characteristics as those of the Index Québec range. They are designated by the name of the province or group of provinces was selected as the unit of cutting and calculating. The composition and management rules that apply to these indexes are the same as those applied to indexes in the Index Québec range. The entry and exit criteria are transposed and adapted according to the reference territories et related jurisdictions.

The Index Canada range includes the following indices: Index Ontario-40 (IO-40), Index Atlantique-15 (IA-15), Index Prairies-10 (IP-10), Index Alberta-25 (IAb-25) et Index Colombie britannique-20 (CB-20).