FTSE EPRA-NAREIT Global Real Estate Index Ground Rules v4.8x

3. Status of <strong>Real</strong> Time Indices3.1. The <strong>FTSE</strong> <strong>EPRA</strong>/<strong>NAREIT</strong> <strong>Global</strong> <strong>Real</strong> <strong>Estate</strong> indices that are calculated in real time (seeAppendix 2) are made available with one of the following designations:a) Firmi. The indices are active and being calculated during Official Market Hours using prices onthe eligible exchanges. No message will be displayed against the index value.ii. The Official Closing Prices for the indices are described in Appendix 4.b) ClosedThe indices have ceased all calculations for the day. The message 'CLOSE' will be displayedagainst the index value calculated by <strong>FTSE</strong>.c) HeldDuring Official Market Hours, an index has exceeded pre-set operating parameters, and thecalculation has been suspended pending resolution of the problem. The message 'HELD' willbe displayed against the last index value calculated by <strong>FTSE</strong>.d) IndicativeIf there is a system problem or situation in the market that is judged to affect the quality ofthe constituent prices at any time when an index is being calculated, the index will bedeclared indicative (e.g., normally where a 'fast market' exists in the equity market). Themessage 'IND' will be displayed against the index value calculated by <strong>FTSE</strong>.e) PartIf the index is being calculated during the normal Official <strong>Index</strong> Period hours, but there areless than 75% of the constituents by capitalisation available with firm prices, then the indexwill be displayed with the message 'PART' to indicate that only a proportion of the securitiesprices are included. With the exception of the message 'PART', the index will continue to becalculated and displayed as if it were firm.<strong>Ground</strong> rules for the Management of the <strong>FTSE</strong> <strong>EPRA</strong>/<strong>NAREIT</strong> <strong>Global</strong> <strong>Real</strong> <strong>Estate</strong> <strong>Index</strong> SeriesVersion 4.8 June 20115