PFTS index is a benchmark index of PFTS Ukraine Stock Exchange, Ukraine's leading bourse. Beside PFTS Index, there are also the UX Index of the Ukrainian Exchange and the Ukrainian Average Index 50 (UAI-50) being composed by analysts of internet-publisher fundmarket.ua. PFTS Index was effectively created on October 1, 1997 as a capitalization-weighted index to track the percentage change of the basket of stocks from base period – i.e., from October, 1997. As of today it remains the only index of Ukrainian stocks to be recognized and closely tracked by the international financial community. Many companies included in PFTS Index specialize in raw materials extraction and processing, therefore heavily exposing the Index to the fluctuations of world commodities' prices. The Index is also disproportionately weighted towards industry sector of the economy. As of July 28, 2009, the total weight of industry firms in PFTS Index was 52.75%, with the rest (47.22%) accounted for by the services sector, thereby leaving agricultural sector unrepresented in the index. History Major events: 2003 In November, 2003, the PFTS Board adopted the amendments to the Rules of Calculation of PFTS Index whereby only the prices of securities in a free-float would be taken into account upon index calculation, excluding stock holdings which are in state ownership. These changes, which, in essence, substantially increased the influence of securities issued by privatized companies' on the index value, took effect in January of next year. 2004 During Orange revolution, the calculation of PFTS Index was suspended for 10 days – the longest pause in its history – due to sharp fall in liquidity induced by political instability. 2005 In July a special Committee was created to oversee the calculation of all PFTS Indices in order to ensure their maximum conformity with market conditions. Same month the calculation methodology was enhanced further. Effective since August, the newly introduced changes expanded the list of stocks that are excluded from index calculation. In addition to state-owned stock (excluded in 2003), all the securities held by the issuer of that stock or in possession of strategic investors or company's management and/or employees are not taken into account upon index calculation. 2006 The trading of Zaporizhstal shares is suspended in April due to high price volatility generated by the uncertainty over the positions of its minor and major shareholders. The company stock was subsequently removed from the index basket. Next month the basket