Effective from the beginning of 2009, ISE started to compute City Indices in order to monitor the price and return performances of those companies which have their main production premises or registered offices in the same city.

City Indices are computed in real-time since February 16, 2009, based on the closing value of ISE-100 Index on December 31, 2008, i.e. 26,864.07.

City Indices are calculated for cities with minimum 5 companies whose stocks are traded on the Exchange. The city indices currently being calculated are ISE Adana (XSADA), ISE Ankara (XSANK), ISE Antalya (XSANT), ISE Bursa (XSBUR), ISE Istanbul (XSIST), ISE Izmir (XSIZM), ISE Kayseri (XSKAY), ISE Kocaeli (XSKOC), ISE Tekirdag (XSTKR) and ISE Balıkesir (XSBAL).

City Indices will be calculated for other cities when the number of traded companies of a city reaches 5. The purpose is to ensure that city indices which reflect the stock performances of the companies in the city will be used as an underlying for the creation of a variety of new financial products including Exchange Traded Funds (ETFs) and thereby provide the investors to invest in a city through investing to an ETF.

Scope of the city indices
In production companies, the city where minimum 50% of the production takes place is taken into account. In service companies (except communication and construction companies and holdings), the city where minimum 50% of the operating income is derived is taken into account. If there is no city where minimum 50% of the production or operating income is realized/derived, then the city where the registered office is located is taken into account.

For communication companies, construction companies and holdings, the city where the registered office is located is taken into account.

Banks, insurance companies, financial leasing companies, factoring companies, investment trusts, real estate investment trusts, venture capital investment trusts, brokerage houses and companies operating in the retail sector are not included in the city indices.

Selection
For the stocks of a company to be included in the city indices, the scope of the city indices should cover the activities of the company and there should be an index being calculated for the city in which the company is covered.