Russian stocks will not be removed from S&P Dow Jones Indices after a consultation by the company concluded they should remain.
The company had proposed the removal of Russian stocks in the face of sanctions which have been placed upon Russia by the west as a result of ongoing tensions between it and Ukraine.
S&P Dow Jones said it discussed the potential move with clients and stakeholders who it said could have been “directly impacted” by the sanctions.
The consultation began on July 31 but the company today confirmed “no Russian stocks will be removed” and that “no adjustments will be made to indices at this time”.
“Based on comments received from stakeholders as well as our own research, it is S&P DJI’s understanding that Russian laws and regulations provide for sufficient advanced public notice of new equity issuances to allow index adjustments to be made with normal announcement periods if any such adjustment is deemed appropriate,” David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices said.
“S&P DJI would like to thank those clients and investors who responded to the consultation. We will continue to monitor developments going forward.”
