Definition
Constituent
A listed company that has passed the eligibility test and is included in the index at a defined weight as of the most recent rebalance date.
- Status
- Definition in force
- Method version
- 1.0
- Reviewed
- 2026-08-22
In the Live Index framework
Constituency is a status, not a description. A company can be central to the live-music economy and not be a constituent, because it does not disclose its live revenue separately, because its float cannot be sourced, or because its listing does not meet the liquidity condition. The framework treats these exclusions as facts about disclosure, not judgements about the company, and records them on the relevant segment page.
Each constituent record carries its ticker, primary listing, currency, segment assignment, measured exposure with its source, float-adjusted share count with its source, and the rebalance date at which its current weight was set. A record missing any of these is not a constituent; it is a candidate.
Constituency changes only at a rebalance date, except where a corporate action removes the listing entirely.