MSCI IncMSCI
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MSCI IncMSCI IncMSCI released the results of its 2026 Market Classification Review, announcing the reclassification of Bulgaria from Standalone to Frontier Market status and issuing warnings to Indonesia and Turkey over shareholder transparency and coordinated trading concerns. Bulgaria will be reclassified in one step across all MSCI indexes coinciding with the May 2027 Index Review, following material improvements in liquidity on the Bulgarian Stock Exchange and a smooth transition to the euro on January 1, 2026. For Indonesia, MSCI acknowledged recent transparency reforms by OJK, IDX, and KSEI but cautioned that if sufficient progress is not evident by the November 2026 Index Review, it may consider a consultation on reclassification from Emerging to Frontier Markets. For Turkey, MSCI noted the Capital Markets Board's new framework for excluding fund-held stakes from free float calculations but warned that a consultation on appropriate treatment could be launched by November 2026 if tangible progress is not seen. MSCI also welcomed the removal of floor prices in Bangladesh, cautioned that their reintroduction could prompt a consultation on reclassification from Frontier to Standalone status, and said it continues to monitor Korea's market accessibility measures, while confirming that Greece's reclassification from Emerging to Developed Markets will be implemented at the May 2027 Index Review.
MSCI Inc