Bitcoin

This is the latest front in the index-provider power struggle: MSCI, FTSE Russell, and JPMorgan now wield more capital-allocation power than many sovereign regulators. EM reclassification risk is rising globally as index providers tighten free-float, foreign-ownership, and market-access criteria, forcing passive funds to pre-emptively de-risk.

Indonesian officials plan to meet with MSCI Inc. executives on Monday after MSCI threatened to reclassify Indonesia as a standalone market.