FTSE Russell Amends Rules, SpaceX Likely to Be Quickly Included in Index After IPO

BlockBeats News, May 27: FTSE Russell has passed a rule amendment to accelerate the inclusion of newly listed large-cap stocks into its major indices, coinciding with SpaceX's anticipated IPO in the coming weeks. According to the new policy, IPOs with investable market capitalization exceeding the threshold of the Russell US Top 500 Index will be eligible for fast-track inclusion after the close of their fifth trading day post-listing. Previously, eligible companies were only evaluated during quarterly reviews. Arne Noack, Head of Americas Equity and Multi-Asset Indexes at FTSE Russell, stated in a release: "Introducing a fast-track inclusion mechanism for large-scale IPOs allows the index to more promptly reflect significant market developments." FTSE Russell is following Nasdaq's similar move earlier this year to accommodate potential mega IPOs, which shortened the waiting period for index inclusion from at least three months to 15 days. [Original Link]