Decision by MSCI on Turkish Stock Market: Granted Until June 2027

Global index provider MSCI has decided to temporarily freeze certain index changes targeting the Turkish stock market, while stating that market status could be downgraded if sufficient progress is not made on transparency and auditing issues by June 2027.

Index Changes Temporarily Suspended

Global index provider MSCI has decided to temporarily freeze certain index changes targeting the Turkish stock market within the scope of the 2026 Market Classification Review.

In line with this decision, increases in the Foreign Investor Ratio and the number of shares are not being implemented, while the addition of new stocks to the index and transitions to higher categories have also been halted.

Rationale for the Decision and Investor Concerns

Institutional investors' concerns regarding the possibility of coordinated trading through fund shares linked to small-scale companies formed the primary basis of the decision.

It was stated that this situation could undermine the reliability of free float and public offering rates.

Transparency and Auditing Requirement for June 2027

MSCI called for the timely sharing of companies' shareholding data and the implementation of permanent measures against manipulative transactions.

It was reported that if sufficient structural progress is not seen by June 2027, a consultation process for a status change could be initiated.