MDAX

MDAX is a German stock market index that tracks 60 Prime Standard shares of mid-cap companies. These are the largest German companies outside the DAX in terms of market capitalization and liquidity. The index is maintained by Deutsche Börse and was introduced in 1996, replacing the NEMAX 50 as a mid-cap benchmark. Constituents are listed on the Frankfurt Stock Exchange and are subject to periodic eligibility checks based on market capitalization and liquidity.

The index uses a free float-adjusted, capitalization-weighted methodology, so larger, more liquid stocks have greater influence on the index level. Changes to the composition occur to reflect shifts in size and trading activity, with new entrants replacing members that fall out of the top tier or fail to meet criteria.

MDAX serves as a benchmark for German mid-sized equities and is a common underlying index for exchange-traded funds, index funds, and other passive investment products. It is part of Deutsche Börse's family of indices that also includes the DAX, SDAX and TecDAX.