- Egypt removed from the Watch List for potential demotion from Secondary Emerging to Frontier market status and retained as a Secondary Emerging market
- Oman added to the Watch List for possible reclassification from Frontier to Secondary Emerging market status
FTSE Russell, LSEG’s global index provider, has published the results of its annual country classification review for countries monitored by its global equity and fixed income indices.
Equities
As part of the latest review, FTSE Russell has determined that Egypt will be removed from the Watch List for potential demotion from Secondary Emerging to Frontier market status and retained as a Secondary Emerging market. This is following Egypt meeting the minimum securities count requirement based on data as of June 2026.
Oman is currently classified as a Frontier market; however, the market meets the required FTSE Quality of Markets criteria and the minimum size and securities count requirement for attaining Secondary Emerging market status. Therefore, FTSE Russell is pleased to announce that Oman is being added to the Watch List for possible reclassification from Frontier to Secondary Emerging market status.
The following equity market reclassifications were effective in conjunction with the FTSE Global Equity Index Series (GEIS) and FTSE Frontier Index Series September 2026 index reviews, effective from market open on Monday 21 September 2026:
- Greece reclassified from Advanced Emerging to Developed market status. Visit the FAQ for more details: Reclassification of Greece to Developed Market Status - Sep 2026
- Vietnam reclassified from Frontier to Secondary Emerging market status. Visit the FAQ for more details: Reclassification of Vietnam from Frontier to Secondary Emerging Market Status - FAQ
- Nigeria reclassified from Unclassified to Frontier market status.
Fixed Income
There have been no new developments within the Fixed Income Country Classification since our previous update in March 2026.
Fiona Bassett, CEO at FTSE Russell, comments: “FTSE Russell’s country classification framework is grounded in the principle of accessibility to global financial markets. Through ongoing, collaborative dialogue with the investment community, exchanges, regulators, and other key stakeholders, we maintain best practice, ensuring our indices accurately represent real investment opportunities and remain aligned with the needs of the market.”
More information on the September 2026 Equity Announcement and the September 2026 Fixed Income announcement can be found on our website. The next update will be published in April 2027.
