Market Classification
MSCI Annual Market Classification Review
During the Annual Market Classification Review, MSCI analyzes and seeks feedback on those markets it has placed under review for potential market reclassification. Every June, MSCI communicates its conclusions from the discussions with the investment community on the list of countries under review and announces the new list of countries, if any, under review for potential market reclassification in the upcoming cycle.
The review is based on the criteria set forth in the MSCI Market Classification Framework.
List of country indices currently under review for a potential reclassification to Developed Markets as part of the 2012 Annual Market Classification Review:
MSCI Korea Index
MSCI Taiwan Index
List of country indices currently under review for a potential reclassification to Emerging Markets as part of the extension of the 2012 Annual Market Classification Review:
MSCI Qatar Index
MSCI UAE Index
MSCI will communicate its final conclusions on these potential market reclassifications in June 2012.
Past market reclassifications:
| Country Indices | Market Reclassification | Date* |
|---|---|---|
| MSCI Trinidad & Tobago Index** | From Frontier Markets to Standalone | May 2011 |
| MSCI Israel Index | From Emerging to Developed Markets | May 2010 |
| MSCI Bangladesh Index | From Standalone to Frontier Markets | May 2011 |
| MSCI Argentina Index | From Emerging to Frontier Markets | May 2009 |
| MSCI Pakistan Index*** | From Standalone to Frontier Markets | May 2009 |
| MSCI Jordan Index | From Emerging to Frontier Markets | November 2008 |
| MSCI Lithuania Index | From Standalone to Frontier Markets | November 2008 |
| MSCI Serbia Index | From Standalone to Frontier Markets | November 2008 |
| MSCI Sri Lanka**** | From Standalone to Frontier Markets | November 2007 |
| MSCI Venezuela Index***** | From Emerging to Standalone | May 2006 |
| MSCI Greece Index | From Emerging to Developed Markets | May 2001 |
| MSCI Portugal Index | From Emerging to Developed Markets | November 1997 |
*As of the close of the last business day of the month
**Trinidad and Tobago was added to the MSCI Frontier Markets Index in May 2009
***Pakistan was removed from the MSCI Emerging Market Index in December 2008 and maintained as a standalone country index
****Sri Lanka was removed from the MSCI Emerging Markets Index in June 2001 and maintained as a standalone country index
*****Index was discontinued on January 2, 2008
MSCI Global Market Accessibility Review
Every June MSCI releases its Global Market Accessibility Review which includes the assessment of a series of accessibility measures for all markets covered in the MSCI Indices. The Global Market Accessibility Review aims to reflect international investors' experience in investing in a given market and provides a detailed assessment of market accessibility for each country market included in the MSCI Indices.
The assessment is intended to serve as the basis for a comparison of countries' market accessibility levels across investment universes. This review aims also to serve as a tool for international institutional investors to better track the evolution of market accessibility in individual countries as well as for regulators to be informed of the areas perceived as not meeting international standards and for which some improvements may be welcomed.