Merrill Lynch have finalised the composition and weights for the 2008 Merrill Lynch Commodity index eXtraSM (MLCX).
The MLCX is designed to provide a benchmark for commodity market performance and for investment in commodities as an asset class. The MLCX contains six market sectors identified by Merrill Lynch, including: Energy, Base Metals, Precious Metals, Grains & Oil Seeds, Livestock and Soft Commodities & Others.
Merrill Lynch constructed the MLCX based on the liquidity of the constituent futures contracts and the value of the global production of each underlying commodity. The 2008 MLCX will include all of the futures contracts that are included in the 2007 MLCX. No new commodities will be added to the index or removed from the index.
The commodity weights have been recalculated and are based on global production value.