Capital Markets Index

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The Capital Markets Index (CPMKTS) was an investment tool that tracked the value of traditional investment-grade U.S. capital market securities. CPMKTS was a real-time, market-weighted index. It included approximately 9,500 equity, fixed income, and money market instruments.

CPMKTS index was launched by Dorchester Capital Management Company of Houston, Texas on May 4, 2006. The Capital Markets Index was carried on the American Stock Exchange under the symbol CPMKTS with updates every 15 seconds. The trademark was canceled on October 24, 2014.^[1]

Product details[]

CPMKTS measured the capital markets on a consolidated basis. Rather than further subdivide the market as other indexes do, CPMKTS viewed the capital markets on a broader basis and therefore included stocks, bonds, and money market instruments. It satisfied the needs of both professional and lay investors for a measurement tool for mixed or blended portfolios and provided the basis for a wide variety of investment instruments.

Other indexes within the CPMKTS family measured the sub-segments of the market.

The Amex also published sub-indexes CPMKTE, CPMKTB, and CPMKTL, tracking equities, bonds, and liquidity, respectively.

The CPMKTS and its family of indexes were created to meet the market's need for:

1. More sophisticated measures of capital market performance
2. Improved measures of risk and return
3. Better tools to make asset allocation and investment decisions

How it worked[]

Dorchester [www.cpmkts.com] has collected over 30 years of historical data—including government statistics and market changes—which are now stored in the company's computers (two systems in Houston and a redundant system in Chicago). Each day 200 million pieces of information are added.

The data is organized, processed, and updated every 15 seconds. This statistical selection removes the subjectivity associated with other indexes. It accurately represents the history, mix, and behaviour of the capital markets.

Company history[]

The index is inactive as of 2020 with the trademark being canceled in 2014, and the last available data is from December 2015.^[2]

References[]

Sources[]