What Happened
Rule Change Speeds Up Addition of Large-Cap Companies to Main Indexes
FTSE Russell has announced a rule change that will speed up the addition of newly listed large-cap companies to its main indexes. This change comes weeks ahead of SpaceX’s expected record-breaking initial public offering. Under the new policy, IPOs with investable market capitalizations above the cutoff for the Russell Top 500 will qualify for fast entry after their fifth trading day, rather than being assessed during quarterly reviews. This development was first reported by Bloomberg.