# MAX Index

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{{Short description|Domestic government bond market benchmarks in Hungary}}
The '''MAX Index''' family is a set of widely used domestic government bond market benchmarks in Hungary.<ref>{{Cite web |title=Hungarian Government Bond (MÁK) |url=https://akk.hu/content/path=hg-bond |access-date=2017-05-28 |website=akk.hu}}</ref> The index family consists of the RMAX, MAX, MAX Composite and ZMAX indices. The indices calculated and published by the Hungarian Government Debt Management Agency Ltd.<ref>{{Cite web |title=Hungarian Government Debt Management Agency Ltd. Website |url=https://www.akk.hu/ |access-date=2017-05-28 |website=www.akk.hu}}</ref> on a daily basis. The index calculation method follows the [EFFAS](/source/EFFAS) Bond Commission's total return bond index recommendations.

==Index characteristics==
The inception date is December 31, 1996 and each index consists of local currency-denominated fixed-rate government [bonds](/source/Bond_(finance)) and [bills](/source/banknote) of the [Hungarian Republic](/source/Hungarian_Republic).
* RMAX Index consists of bills and bonds in maturity range of 91–365 days and rebalances every [fortnight](/source/fortnight)
* MAX Index consists of bonds in maturity range of over 365 days and rebalances monthly
* MAX Composite Index is the composite of the RMAX and MAX indices
* ZMAX Index consists of bills and bonds in maturity range of 14–182 days and rebalances weekly

==External sources==
* [https://web.archive.org/web/20110721110202/http://www.gdma.hu/ Government Debt Management Agency Ltd.]
* [https://web.archive.org/web/20110721110145/http://www.gdma.hu/object.9e09674c-aac0-4c4a-b5bd-4a1afe417719.ivy Detailed Index Descriptions]

==References==
{{Reflist}}

{{DEFAULTSORT:Max Index}}
Category:Economy of Hungary
Category:Government bond indices

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