
Following continuous improvements and reforms by the Greek markets authorities that have been assimilated and tested by market participants, improvements for the Clearing and Settlement, Stock Lending, and Short Selling criteria were recognised as part of the 2025 Market Accessibility Review.
According to MSCI, the Greek market has made progress in aligning with the market accessibility standards commonly observed in Developed Markets in Europe. Additionally, Greece meets the economic development criteria for Developed Markets.
Following the enhancements implemented to the Size and Liquidity Requirements of the MSCI Market Classification Framework, a persistency rule was introduced requiring a minimum number of five companies to meet Developed Market Standard Index criteria over a sustained period for an upward reclassification.
Greece did not meet the newly introduced Size and Liquidity persistency requirements at the time of the MSCI 2025 Market Classification Review.
However, MSCI treats European countries classified as Developed Markets as a single entity for index construction and maintenance purposes. This approach reflects the high degree of integration observed across European equity markets, including harmonised market infrastructure, regulatory alignment, and cross-border accessibility.
Moreover, it acknowledges the perspective of many global institutional investors, who increasingly view Developed Markets Europe as a cohesive and unified investment landscape. In line with this framework, MSCI is seeking feedback from market participants on whether the persistency rule under the standard Size and Liquidity Requirements should be applied to European Markets, such as Greece, when consulting for their potential reclassification to Developed Market status.