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.

There are no country indexes currently under review for a potential reclassification to Developed Markets as part of the 2015 Annual Market Classification Review.

List of markets currently under review for a potential inclusion into Emerging Markets as part of the 2015 Annual Market Classification Review:

China A-shares

MSCI will communicate its final conclusions on this potential market inclusion in June 2015.

Past market reclassifications:

Country Indexes Market ReclassificationDate*
MSCI Qatar IndexFrom Frontier to Emerging MarketsMay 2014
MSCI UAE IndexFrom Frontier to Emerging MarketsMay 2014
MSCI Greece IndexFrom Developed to Emerging MarketsNovember 2013
MSCI Morocco IndexFrom Emerging to Frontier MarketsNovember 2013
MSCI Trinidad & Tobago Index**From Frontier Markets to StandaloneMay 2011
MSCI Israel IndexFrom Emerging to Developed MarketsMay 2010
MSCI Bangladesh IndexFrom Standalone to Frontier MarketsMay 2010
MSCI Argentina IndexFrom Emerging to Frontier MarketsMay 2009
MSCI Pakistan Index***From Standalone to Frontier MarketsMay 2009
MSCI Jordan IndexFrom Emerging to Frontier MarketsNovember 2008
MSCI Lithuania IndexFrom Standalone to Frontier MarketsNovember 2008
MSCI Serbia IndexFrom Standalone to Frontier MarketsNovember 2008
MSCI Sri Lanka****From Standalone to Frontier MarketsNovember 2007
MSCI Venezuela Index*****From Emerging to StandaloneMay 2006
MSCI Greece IndexFrom Emerging to Developed MarketsMay 2001
MSCI Portugal IndexFrom Emerging to Developed MarketsNovember 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 Indexes. 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 Indexes.

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.