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KSE to undergo 12 reviews for Global Indices in 2024

Starting from the end of February, the Kuwait Stock Exchange has scheduled 12 reviews for three global indices — Morgan Stanley, FTSE Russell, and Standard & Poor’s — throughout the current year. These reviews may attract additional foreign liquidity or witness liquidity exits, potentially impacting market weights and the standing of listed companies.

Each of the three global indices will undergo four reviews, with specific dates for decision announcements and implementation, reports Al-Jarida daily.

It is noteworthy that upgrade approvals on Fridays, considered trading days in global markets, will be applied in Kuwait on the last trading day of the same week, which is the preceding Thursday.

Investors are particularly keen on FTSE Russell’s announcement in August, which will reveal its annual review of markets eligible for the Advanced Emerging Markets Club.

The possibility of KSE’s promotion to this category hinges on the successful implementation of the central counterparty (CCP) for cash and modifications to the clearing and settlement system. Market participants are currently conducting extensive tests, with the preliminary phase expected to conclude in June, according to the Capital Markets Authority’s timeline.

FTSE Russell’s report in August may assess KSE achievements in meeting promotion criteria and could indicate the stock exchange’s candidacy for advancement. However, if the central counterparty operating system tests are not completed, the exchange’s inclusion in the advanced emerging markets index may be postponed until the August 2025 review.

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