The Canadian Securities Exchange (CSE) has introduced a new index comprising of its largest and most liquid stocks.
It is called the CSE25 Index and includes the top 25 securities by market cap contained in the CSE composite index, which was launched in 2015.
Richard Carleton, the chief executive at CSE, noted that as the exchange had grown rapidly in terms of trading volumes and market capitalization it was "appropriate that we give market participants a benchmark that monitors the performance of our largest and most liquid issues".
He described the CSE, which is home to over 300 stocks, as the 'exchange for entrepreneurs'.
Trading on the CSE has been exceptionally robust in 2016 and 2017 and turnover of the entire market measured by the value of trading divided by the total market cap has averaged 6.6% per month in 2017 so far.
Carleton said that was a level of market activity unrivalled in the Canadian exchange space.
The 25 companies of the CSE25 Index account for over 50% of the weighting in the larger index and are typically stocks that attract considerable trading volumes.
They include Liberty Health Sciences Inc (LHS), which accounts for the most weighting on the CSE 25 index at 14.31%. It is also home to CannTrust Holdings Inc (TRST), with 13%.
Lower down the scale, RESAAS Services Inc (RSS) accounts for 1.80% of the weighting.