Bloodstone Frontier Index

The Bloodstone Frontier Index is Bloodstone Research's proprietary universe of smaller, less liquid or less internationally accessible public equity markets with sufficient market depth and institutional relevance to warrant continuing research coverage.

Our starting point is the frontier and smaller-market universes recognised by MSCI and FTSE Russell. Bloodstone then applies additional tests covering the existence of an operational public equity market, the depth of the domestic listed-company universe, market liquidity, accessibility to international investors and institutional relevance.

A market does not qualify simply because it operates a stock exchange. The Bloodstone Frontier Index is intended to identify markets capable of supporting meaningful and recurring equity-market research.

Where MSCI and FTSE Russell disagree, Bloodstone assigns each market according to its underlying market characteristics. Bloodstone may also depart from both providers where market depth, liquidity, accessibility or research relevance supports a different treatment.

Selected unclassified markets may be monitored through the Frontier Watchlist where they do not yet satisfy the requirements for core inclusion.

Bloodstone classifications are designed for research coverage and do not replicate a third-party index.