TEMENOS Group AG (SWX:TEMN), a provider of integrated modular and core banking systems, today announced that Morgan Stanley Capital International (MSCI), a provider of global indices, benchmark products and services to investors world wide, has selected TEMENOS for its Small Cap Index Series as of close of May 28, 2004.
The decision was made to include TEMENOS in the fund as a result of MSCI's May 2004 Semi Annual Index Review. TEMENOS will be one of 195 securities added to the MSCI Small Cap Index Series; while 129 securities will be removed.
The MSCI Small Cap Index Series attempts to represent the business activities of small capitalization companies across developed markets. Companies with a full market capitalization between $200 million and $1,500 million are eligible for inclusion. MSCI then selects the most liquid securities relative to their market capitalization, and targets for index inclusion 40% of the full universe within each industry group and country. The market capitalization of index constituents is free float-adjusted.
Max Chuard, director of corporate finance and investor relations, TEMENOS, says: "We're delighted to be included in MSCI's portfolio. We are taking steps to broaden our investor base by creating stronger market awareness and enhancing our visibility. This in turn should continue to further improve liquidity in our stock. Our year end 2003 and first quarter 2004 earning figures are very healthy and validate our commitment to our shareholders and clients alike as we continue to gain market share."
TEMENOS has an established, 10 year pedigree in providing integrated, open, modular and scalable software to the wholesale, retail, private and universal banking sectors.