• Indices
  • FTSE UK Index Series (inc. FTSE 100 Index)
    • Values
    • Constituents
    • Index Rules
      • Review Process
      • Eligibility Screens
      • Corporate Events
      • Index Governance
    • Index Changes
    • Index Reviews
    • Product Specifications
    • Performance Analysis
• FTSE Real-Time Vendor Codes
• Data Licences
• FTSE Index Standards
• Student Information

The FTSE 100 consists of the largest 100 UK companies, by full market value, which are eligible for inclusion in the index.

To qualify, companies must have a premium listing on the London Stock Exchange with a Sterling denominated price on SETS, subject to eligibility screens.

The FTSE Europe/Middle East/Africa Regional Committee will meet quarterly to review the constituents of the FTSE 100. The meetings to review the constituents will be held on the Wednesday after the first Friday in March, June, September and December. Any constituent changes will be implemented on the next trading day following the expiry of the LIFFE futures and options contracts, which normally takes place on the third Friday of the same month.

Market capitalisation rankings are calculated using data as at the close of business on the day before the review.

Companies must have a minimum trading record of 20 days at the review.

A security will be inserted at the periodic review if it rises above the position stated below when the eligible securities for each FTSE Index are ranked by market value:

- Risen to 90th or above

A security will be deleted at the periodic review if it falls below the position stated below when the eligible securities for each FTSE Index are ranked by market value:

- Fallen to 111th or below

Changes made to the FTSE 100 at the periodic review will be made automatically to the FTSE 350 and FTSE 350 Yield Indices.

Where a greater number of companies qualify to be inserted in an index than those qualifying to be deleted, the lowest ranking constituents presently included in the index will be deleted to ensure that an equal number of companies are inserted and deleted at the periodic review. Likewise, where a greater number of companies qualify to be deleted than those qualifying to be inserted the securities of the highest ranking companies which are presently not included in the index will be inserted to match the number of companies being deleted at the periodic review.

Companies that are large enough to be constituents of the FTSE 100 but do not pass the liquidity test shall not be included. At the next annual review they will be re-tested against all eligibility screens.

A constant number of constituents will be maintained for the FTSE 100.

The Secretary to the FTSE Europe/Middle East/Africa Regional Committee will be responsible for publishing the six highest ranking non-constituents of the FTSE 100 Index at the time of the periodic review. The appropriate Reserve List will be used in the event that one or more constituents are deleted from the FTSE 100 during the period up to the next quarterly review.

If a new issue is larger than 1% of the full market capitalisation of FTSE All-Share it will normally be included in the FTSE 100 after close on the first day of official trading. The lowest ranking constituent will be removed.