MSCI:Athens Stock Exchange set for Developed market status in May 2027

Raman Aylur Subramanian, Managing Director at MSCI, noted that Greece’s transition from Emerging to Developed Market status reflects both the progress achieved by the Greek authorities and the evolving perception of international investors, who increasingly view European developed markets as a single, integrated investment environment. He also highlighted that the Greek stock market infrastructure is now fully aligned with European standards and meets all required criteria.

MSCI indicated that the objections raised during the public consultation primarily concerned the implementation timeline, which prompted the decision to delay the reclassification.

The upgrade will be implemented in a single phase, covering all MSCI indices (Standard, Custom, and Derived) as part of the May 2027 review. Following completion, Greece will be incorporated into the Developed Europe indices, while existing stock selection rules will remain in place to minimize restructuring.

Since February 2026, MSCI has provided simulated indices reflecting Greece as a Developed Market and will continue to do so until the formal reclassification, facilitating investor planning.

Meanwhile, FTSE Russell and S&P Dow Jones have already announced their plans to include the Greek market in the Developed Markets category from September 2026, with Stoxx—currently monitoring ATHEX—expected to issue its decision shortly.

In a related statement, ATHEX emphasized that the upgrade represents recognition of the steady progress of the Greek capital market, based on feedback from both investment firms and institutional investors.

The transition to Developed Market status is expected to enhance liquidity, attract additional institutional investors, and strengthen the international profile of the Athens Stock Exchange.

This milestone coincides with ATHEX’s ongoing integration into the Euronext Group, further reinforcing its position within the European investment landscape.