FTSE Russell changes rules and SpaceX is expected to be quickly included in the index after listing

FTSE Russell has passed a rule change that will speed up the inclusion of newly listed large-cap stocks in its main index, a move that comes weeks before SpaceX is expected to launch an IPO. Under the new policy, IPOs with an investable market value that exceeds the threshold for the Russell Top 500 U.S. Index will be eligible for rapid inclusion after the end of the fifth trading day after listing. Previously qualified companies were evaluated only during the quarterly review period. Arne Noak, head of FTSE Russell Americas equities and multi-asset indices, wrote in a statement: "Introducing a rapid inclusion mechanism for large-scale IPOs allows the index to reflect major market developments in a more timely manner." FTSE Russell is following similar steps taken by Nasdaq earlier this year to cater to potential giant IPOs, which has shortened the waiting period for inclusion in the index from at least three months to 15 days.