Proposed methodology changes target non-operating companies, with potential removal of three firms from MSCI’s Global Investable Market Indexes.
MSCI is consulting on rule changes that could exclude non-operating companies from its Global Investable Market Indexes (GIMI). A May 2026 simulation flags MicroStrategy (MSTR), Metaplanet, and Yellow Cake for potential removal, while SharpLink and others may be placed on a watchlist.
The proposal evaluates companies based on operating asset intensity, cash flow, and reliance on capital raising for investment assets. Current eligibility criteria do not explicitly screen for non-operating firms. The consultation period ends September 30, with results expected by October 16 and implementation slated for the November 2026 index review.
No immediate market reaction was reported, as the proposal remains under review and is not yet finalized.