S&P Pilots New Calculation for S&P 500 Closing Price
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Standard & Poor’s (S&P) will pilot calculating closing prices based on the American Stock Exchange’s (Amex) closing prices for twelve Nasdaq-listed stocks in the S&P 500 starting Dec. 1, it said last week. The pilot will run through early 2004.
The initiative is part of a program to assess whether the use of Amex’s closing prices will improve the accuracy of the S&P 500’s opening and closing prices, which are currently computed using Nasdaq’s closing prices.
"For a long time S&P has been aware of
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