DXI™ Data Explorers
The DXI™ Data Explorers family of indices tracks the change in securities lending, a proxy for short selling, in relation to shares outstanding of the largest companies in each region. The advantage of the DXI™ methodology is that it is not impacted by changes in price or by changes in trade volume so securities lending activity is not obscured by cash market movements.
The top left graph, the DXI™ Global 50, covers the securities lending loan base for the 50 largest market capitalised companies in the global traditional securities lending markets.
The region-specific DXI™ US, UK, Europe (ex UK), Japan, and Asia (ex Japan) 30 each cover the securities lending loan base for the 30 largest market capitalised companies in each region, respectively.
A rising DXI™ index represents a relative increase in quantity on loan (i.e. short selling) while a falling index highlights a decrease in the quantity on loan (i.e. short covering).
Each index has a base as of 6 January 2010 and is rebalanced quarterly. The indices are not weighted.
Top 10 Shorts and Squeezes: Europe