S&P Dow Jones Indices to Remove Stocks Listed and/or Domiciled in Russia From Standard Indices

By Josh Beckerman

S&P Dow Jones Indices will remove all stocks listed and/or domiciled in Russia from its standard equity indices at a price of zero, effective prior to open on March 9, the S&P Global Inc. unit said Friday.

The removal includes American depositary receipts and global depositary receipts, S&P Dow Jones Indices said.

S&P DJI also said it would reclassify Russia from an emerging market to "standalone" at that time, noting "the deterioration in the level of accessibility of the Russian market."

The index provider said the changes would first be visible to clients in corporate actions and pro-forma files, where applicable, starting Friday.

"Subject to ongoing compliance with applicable law and availability of pricing," S&P DJI would continue to calculate and publish certain country indices including S&P Russia BMI and the Dow Jones Russia Index on a standalone basis, separate from broader regional and global benchmarks. They "will be calculated and maintained from a Russia-based investor perspective and therefore may include securities that would be ineligible from a U.S./U.K./EU investor perspective."

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

March 04, 2022 14:21 ET (19:21 GMT)

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