MSCI proposes eligibility screen that would remove non-operating companies like Metaplanet and Strategy from global indexes.
Macro & Markets ·
MSCI has proposed a new eligibility screen that would exclude non-operating companies from its global investable market indexes. The proposal would affect companies like Metaplanet and Strategy, which would face removal under the criteria being considered. The index provider released a consultation document outlining the screen's mechanics and seeking feedback from market participants.
The proposed rule would establish operational thresholds to determine which companies qualify for inclusion in MSCI's benchmark indexes. Companies failing to meet revenue or business activity requirements would be ineligible, creating a stricter standard than currently applied. This framework would represent a shift in how MSCI defines index membership and reflects broader industry discussion around what constitutes an investable business.
The consultation remains open, and MSCI's final decision on implementation has not yet been announced. The outcome will clarify whether this screen becomes mandatory across MSCI's index suite and the timeline for any transition period affecting currently included non-operating companies.