MSCI: Progress for Athens Stock Exchange, but no immediate upgrade

MSCI acknowledged improvements in the Greek market but did not include it on the watch list for upgrading to a developed market. According to the announcement, Greece has made progress in the criteria of Clearing and Settlement, Stock Lending and Open Sales.

MSCI notes that the Greek market has aligned with the accessibility standards of developed European markets and meets the economic development criteria.

However, Greece does not meet the new Size and Liquidity sustainability requirements, as it does not have the minimum number of five companies that meet the criteria of the Developed Markets Standard Index for an extended period.

MSCI is considering European countries as a single entity and is seeking feedback from market participants on the application of the sustainability rule to European markets, such as Greece, during consultations for a possible reclassification.

The company emphasizes that the improvements and reforms by the Greek market authorities have been adopted and tested by market participants.