In order to ensure that the potential movement of countries is transparent to investors, FTSE Group created a Watch List of countries that may be subject to change in their classification if a number of conditions are met.
FTSE categorises countries into three classifications, i.e. Developed, Advanced Emerging and Advanced Emerging within FTSE Global Equity Index Series.
Greece will remain on the Watch List and continue to be assessed for “possible moves to Developed to Advanced Emerging Status.”
As it is reported some aspects remain restricted to foreign investors and the markets continue to fall short of the requirements of a developed market in respect of the following criteria:
• delivery free of payment allowed for transferring securities between accounts;
• off-exchange transactions freely allowed;
• omnibus custody account facilities available to international investors;
• short sales restrictions; and
• liquid stock lending market.