Deutsche Börse prides itself on having strictly rule-based indices.
In other words, there is no longer a need for someone who thinks along and steers.
The beautiful new index world is fully automated.
The Linde case shows that this is not the case.
The delisting of a Dax heavyweight was not provided for in the rules.
To make matters worse, after the Wirecard disaster, numerous new rules were introduced that do not yet work fully automatically down to the last detail, for example the question of exactly which day a company is to be classified as profitable.
It needs people and their intellect, and that's a good thing.
The stock exchange is trying to quickly clarify the questions about Linde's departure and the definition of Commerzbank's profitability as a candidate for the Dax successor.
In doing so, it deviates from the usual procedure.
And it does this in the interests of ETF investors.
Some things could go faster, some things could be more transparent.
But in this special case, not just going according to the formula and the exact wording of the "Guide to the DAX Equity Indices", which is only published in English, is the right way.
And a good reason to think about the meaning of some rules, such as those on profitability.