TORONTO--(BUSINESS WIRE)--NEO is proud to announce that MSCI Inc. (“MSCI”), a leading provider of critical decision support tools and services for the global investment community, now recognizes the NEO Exchange as an eligible market for inclusion in MSCI Indexes under the MSCI Global Investable Market Indexes Methodology.
“This is a proud day for the NEO Exchange as we achieve recognition as an eligible market for inclusion by MSCI, a world-renowned provider of quality stock indexes,” remarked Jos Schmitt, President and CEO of NEO. “This accreditation by MSCI offers proof of NEO’s rightful position as a Tier 1 stock exchange, and further validates our persistent and ongoing efforts to provide much-needed competition in the Canadian capital markets. We are also very pleased to offer yet another benefit to NEO-listed issuers in addition to exceptional service, enhanced liquidity, and unfettered access to market data.”
NEO’s inclusion in the MSCI Global Investable Market Indexes follows its recognition by FTSE Russell as an eligible stock exchange, earlier this year.
Effective Thursday May 27, 2021 at the close of market, NEO-listed Mind Medicine (MindMed) Inc. (NEO:MMED, Nasdaq:MNMD) was added to the MSCI Canada Index, which is designed to measure the performance of the large and mid-cap segments of the Canada market. With 89 constituents, the MSCI Canada Index covers approximately 85% of the free float-adjusted market capitalization in Canada.
"As we pioneer a new asset class, psychedelic medicines, we are encouraged to see MindMed's inclusion in the MSCI Canada Index,” commented JR Rahn, Founder and CEO at MindMed. “We are also extremely proud to make this a first for a NEO-listed company."
As a senior stock exchange in Canada, the NEO Exchange is home to over 130 corporate and fund listings. NEO consistently facilitates close to 15% of all volume traded in Canadian-listed companies and roughly 20% of all volume traded in Canadian ETFs. Click here for a complete view of all NEO-listed securities.
About the NEO Exchange
The NEO Exchange is Canada’s stock exchange for the innovation economy, bringing together investors and capital raisers within a fair, liquid, efficient, and service-oriented environment. Fully operational since June 2015, NEO puts investors first and provides access to trading across all Canadian-listed securities on a level playing field. NEO is a non-venture stock exchange and lists senior companies and investment products seeking a stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.