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 Methodology of ECI indices

ECI refers to a range of European Convertible Indices.

Convertible bonds are a separate asset class that cannot be compared directly to either stocks or bonds.
The European convertibles market requires a specific range of indices because of its size and distinct nature.

Our indices fulfil three requirements:
  • measure the daily performance of convertible markets;
  • show the structure of the European market and the euro zone using convertible bonds with satisfactory liquidity;
  • determine the market's overall behaviour and enable the standard analysis of convertible bonds - conversion premium, yield, stock sensitivity, fair value, etc.

  • The goal of accurately representing the market determines the number of convertibles in indices. The number can vary depending on market conditions: about 80 in the ECI Europe, 65 in the ECI Europe ex USD and 50 in the ECI Euro.

    The Top ECI 25 index is made up of a fixed number of 25 convertibles. The constituents are made up of the 25 convertibles in the ECI Europe ex USD index that have most of the sensitivity to interest rates, stocks, credit risk and volatility.
     List of ECI indices
    Last 1w Perf 1m Perf 3m Perf 1y Perf YTD
    ECI-Euro 3,850.87 -0.5% +0.0% +1.4% -0.1% +6.7% More
    ECI-Europe 8,055.30 -0.2% +1.0% +1.6% +3.2% +9.6% More
    ECI-Europe EUR-H 1,040.14 -0.4% +0.5% +0.6% +0.8% +7.6% More
    TOP-ECI 25 7,551.35 -0.4% +0.5% +2.3% +1.0% +9.5% More
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