### Question
How does the law define narrow-based security index?


### Answer
Under *15 U.S.C. § 78c*, **narrow-based security index** is defined as:

> an index—


(i) that has 9 or fewer component securities

#### Citation:
  - *15 U.S.C. § 78c*
  - Heading: **CHAPTER 2B-SECURITIES EXCHANGES**

