MSCI Finalizes Index Review and Advances Derivatives Partnership

MSCI Inc. announced the results of its November 2026 Index Review, confirming several deletions across its benchmark equity gauges. The scheduled changes will take effect at the close of trading on November 30, 2026. For its flagship MSCI USA Index, the index provider disclosed 24 deletions and one addition.

The updates mark the first exclusions under MSCI's tightened non-operating company methodology, which was adopted on October 15, 2026. The framework assesses whether an issuer maintains substantial operating assets and applies a secondary test based on five financial ratios. A current constituent faces removal if it fails the screening requirements across consecutive annual reporting periods. Six companies were marked for deletion under this screen, including Strategy Inc., Metaplanet, and Yellow Cake. Strategy had previously asked MSCI to withdraw the proposal in an August 31 letter, arguing that its corporate structure qualified as an operating business.

In addition to executing its benchmark reviews, MSCI is engaged in growth initiatives and regional market consultations. The company plans to collaborate with A5X on Brazilian index derivatives and is conducting a consultation regarding the potential reclassification of Indonesia to a Standalone Market. Analysts note that these operational developments directly influence the stability and visibility of the company's future index-linked fee streams.

Valuation models published by Simply Wall St recently assessed MSCI's stock at US$661.53, finding it broadly in line with its estimated intrinsic value under a discounted cash flow framework. That valuation assessment incorporates free cash flow of about $1.47b generated over the trailing twelve months alongside the company's price-to-earnings multiple of 34.2x. Over the past three years, MSCI shares have achieved a 31.3% return.

On November 11, 2026, MSCI also posted an updated corporate responsibility presentation on its investor relations website for use in upcoming meetings with analysts and investors.