2026-13654NoticeWallet

MSCI Index Limit Raised From 15 to 20 Percent

Published Date: 7/7/2026

Notice

Summary

The NYSE American and NYSE Arca exchanges are raising the limit on how much one company can count in the MSCI Emerging Markets Index from 15% to 20%. This change helps keep options tied to this index available for trading without disruption. The update kicks in quickly, making it easier for investors to trade these options smoothly and confidently.

Analyzed Economic Effects

3 provisions identified: 3 benefits, 0 costs, 0 mixed.

Index weight limit raised 15%→20%

The Exchanges increased the single-component concentration limit for the MSCI Emerging Markets Index from 15% to 20%. This change is intended to prevent EM Options from being delisted or restricted at the index's semi-annual review (next review referenced as July 1, 2026) and helps investors continue to open, roll, and hedge option positions (for example, TSM rose from 12.55% to 14.46% of the index by May 29, 2026).

Preserves cash-settled EM exposure

The filing explains EM Options are cash-settled and that cash settlement is often the only way for some investors to get emerging-markets exposure when they cannot take delivery of ETF shares. Keeping EM Options listed preserves that cash-settled access to emerging markets for investors who rely on options instead of physical delivery.

SEC gave accelerated approval July 1, 2026

The Securities and Exchange Commission approved the Exchanges' rule changes on an accelerated basis (order dated July 1, 2026), allowing the 15%→20% change to be implemented without waiting the full 30-day period. That accelerated approval was intended to avoid delay so investors maintain uninterrupted access to EM Options.

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Key Dates

Published Date
7/7/2026

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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