London stock exchange FTSE Russell, which is also responsible for the FTSE World Government Bond Index (WGBI), has announced that Israel is eligible to join the Index.
“Israel now meets the minimum Market Accessibility Level for the WGBI, in addition to the objective market size and credit quality criteria,” the exchange said in an announcement. “Should these criteria continue to be met for the September 2019 review, an announcement regarding a resulting index inclusion change and the timetable for implementation, which will include a minimum notice period of six months, will be made shortly thereafter.”
The WGBI includes 1,033 bond series issued by 23 countries, with over one-third consisting of U.S. government bonds. The market value of the bonds on the Index is over $20 trillion.
FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.