Press Releases — April 22, 2022

Results of annual Emerging and Developed Markets classification review for STOXX indices

Zug (April 22, 2022) – Qontigo today announced the results of the annual Country Classification review for STOXX indices.

As of September 19, 2022, out of the 62 countries in the STOXX index universe, 25 will be classified as developed markets, and 20 will be classified as emerging markets. A full list of countries including their classification can be found under the dedicated country classification section of the STOXX website.

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There will be no changes in the classification of the 62 countries in the STOXX index universe.

The intermediary results indicated Czech Republic, Luxembourg and New Zealand as fluctuating between classification levels. As a result, these countries will be captured in the Watch List and maintain their last classification levels, following a STOXX governance decision and in line with section 4.3 of the STOXX Index Methodology Guide.

The STOXX market classification model relies on a completely rules-based and transparent methodology, and is the first such concept to exclude any subjective decisions from the process. The six criteria for the classification of a country as a developed marked include macroeconomic data, market cap, market liquidity, free currency convertibility on onshore and offshore markets, restrictions on capital flows, and governance based on political stability, control of corruption and regulatory quality. The data source for the diverse criteria are highly renowned and independent global organizations (i.e. World Bank, Thomson Reuters).

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