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Definition: Salomon Brothers World Equity Index – SBWEI
Salomon Brothers World Equity index (SBWEI) is a top-down, float capitalization weighted index which represents about 6000 companies located in 22 countries. The index measures the performance of fixed income and equity securities from domestic and international markets. It is represented by companies having a float of at least $ 100 million.
Each security within the SBWEI index carries a weight according to its float. The SBWEI tracks both the debt securities and stocks of the publicly traded companies worldwide. The Salomon Brothers World Equity Index follows a top-down approach for evaluating the company and every company which has a representation in the index is weighted according to the total value of its shares which are available for trade.
The Salomon Brothers World Equity Index is named after the Salomon Brothers who were once one of the largest Wall Street bulge bracket financial service companies. They provided a wide range of financial services and established their name in the financial markets through its fixed income trading department.